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Skyline International Development Inc. Announces New Chief Executive Officer

2016-02-17 22:29 ET - News Release

(via Thenewswire.ca)

Blake D. Lyon joins Skyline as CEO

TORONTO / TheNewswire / February 17, 2016 - Skyline International Development Inc. (TASE: SKLN ) (" Skyline " or the " Company " ) is pleased to inform that its Board of Directors have appointed Mr. Blake D. Lyon as the new CEO of the Company effective February 17, 2016, following the end of Mr. Michael Sneyd's tenure as chief executive. The appointment is subject to shareholders' approval at the next annual general meeting of shareholders.

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Mr. Lyon joins Skyline with extensive experience in hotel, resort and commercial asset management in Canada and around the world. Mr. Lyon was formerly the Vice President of Finance and Chief Financial Officer of Brookfield Asset Management, a position he held for five years. More recently, Mr. Lyon has held senior executive and board positions in several large family offices and corporations, where he executed on investment transactions and asset management of real estate and other diversified assets. Mr. Lyon holds a Bachelor of Administrative Studies degree in Accounting and Business Administration from York University along with a Chartered Accountant (CA, CPA) designation.

" Blake Lyon is joining Skyline at a very important time", said Gil Blutrich, Chairman and President of the Company. "Skyline is undergoing a gradual and important shift from a mainly hospitality and development company into a diversified investment company, with a portfolio of investments that will also include investments in rental real estate opportunities that bring significant cash flow and upside. I am confident Blake's insights, experience and connections in the North American real estate market will propel Skyline forward on a path of even greater success."

About Skyline International Development Inc.

A leading Toronto-based developer of hospitality properties and destination communities, Skyline International Development owns over two million square feet of real estate, has over 2,600 acres with development rights for almost 7,000 residential units and nearly 1,300 rooms in its holdings, employing more than 1,500 staff. Its unique asset mix includes part ownership of Toronto's iconic Omni King Edward Hotel, as well as ownership of, under the Skyline Hotels & Resorts brand, the city's contemporary boutique Pantages Hotel and Spa . Skyline's resort assets include landmark Deerhurst Resort with 45,000 sq. ft. of meeting space lakeside in Muskoka and Horseshoe Resort , home to Toronto's closest ski area and an adventure park. The Company is also creating residential communities at Deerhurst, Horseshoe and, at the historic lakefront of Port McNicoll , Ontario, a restored gateway to the 30,000 Islands, a UNESCO World Biosphere Reserve. In 2013, the company launched Skyline Vacation Club , Ontario's first drive-to, members-only, points-based urban and country vacation club. In April 2013, Skyline acquired 50% of the retail component in both the village and surrounding the golf course at Blue Mountain and the remaining developable land. In late 2014 the Company acquired Bear Valley Ski Resort in California, expanding its American asset base that included an ownership of the iconic Hyatt Regency Arcade hotel and shopping center in Cleveland, Ohio. In early 2014, Skyline became a public company trading on the Tel Aviv Stock Exchange as (TASE: SKLN). For more information, please visit: www.skylineinvestments.com .


Vadim Shub

Chief Financial Officer

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