Alterra Mountain Co., a Denver-based hospitality company, has entered into an agreement to purchase ski operations at the Schweitzer ski resort, near Sandpoint.

MKM Trust LLC, also of Denver, has owned Schweitzer for 18 years and will retain non-ski operations and real estate holdings in addition to the development of future real estate projects in the community, a press release states.

Alterra’s purchase of Schweitzer is expected to be completed later this year and depends upon closing conditions and regulatory approval. Neither party disclosed terms of the transaction.

In the release, Alterrra President and CEO Jared Smith, says, “Schweitzer has everything we look for in a destination.”

That release states that Tom Chasse will remain as president and CEO of Schweitzer Mountain and continue to be responsible for overseeing the daily operations and future capital improvement plans.

Such capital improvement plans include the development of Schweitzer Creek Village, adding 1,400 parking spots accessible to the resort’s Creekside Quad lift, in addition to a new day lodge and other amenities.

Over $100 million has been invested at Schweitzer in the last decade on improvements that include a terrain expansion, new lifts, a mountain lodge, and a 31-unit hotel, according to the release.

With the purchase of Schweitzer, Alterra’s portfolio will increase to 17 year-round mountain properties in the U.S., including Crystal Mountain, in western Washington.

Schweitzer is located in the Selkirk Mountains overlooking Sandpoint, Idaho, which is about 80 miles northeast of the city of Spokane. The property has 2,900 acres of mountain terrain.

Representatives of Alterra and Schweitzer couldn’t immediately be reached for comment.