The Sun Valley Resort’s parent company could soon be part of a new, larger, publicly-traded company.
But SEC filings note the resort and sister properties aren’t part of the deal.
HollyFrontier of Dallas, TX announced it would acquire Sinclair Oil Corp. and Sinclair Transport and combine them with HollyFrontier’s other businesses. A new holding coming – HF Sinclair would join the New York Stock Exchange.
Though a news release didn’t mention the hotel and resort businesses, HollyFrontier’s SEC filings reviewed by BoiseDev indicate the world-famous Idaho resort as well as Grand America Hotel in Salt Lake City, UT and Westgate Hotel in San Diego, CA won’t be part of the deal.
The agreement says Sinclair will hold on to the “hospitality business” and several other units – specifically listing Sun Valley. A small Sinclair-branded gas station next to the resort is also to be retained.
The Sinclair Companies are controlled by the Holding family of Salt Lake City. The late Robert Earl Holding purchased Sun Valley from the Janss Investment Company in 1977 after negotiations to sell the resort to the Walt Disney Corporation faltered. Holding died in 2013. His wife Carol, remains Chairman of the Board of Sinclair.
“My husband, Earl, and I have always known that employees are the key to our company’s success,” she said in a news release on the HollyFrontier deal. “I am grateful for the efforts of each of the people who have worked alongside of us. Together, we have dreamed impossible dreams and many came true.”
The Sinclair HollyFrontier deal is expected to be complete next year.