GREER, AZ-Following a long-term hold and renovation of Snowy Mountain Inn in Arizona's White Mountains, the resort's owners have opted to dispose of the eight-cabin asset (and restaurant) through a public auction process. The auction is scheduled for Aug. 10 in Greer, which is 230 miles northeast of the Phoenix metro area.

Snowy Mountain Inn was built in 1955 and offers lodging, a restaurant, and outdoor activities to guests. The owners have held the property for years, during which time they designed a condo replat; Apache County will approve the design soon, which would allow for eight residential units per acre on the 9.1-acre property.

A spokeswoman for the auction company handling the property, Auction Systems Select, the real estate arm of Auction Systems Auctioneers & Appraisers, says the property isn't in any kind of distress. Rather, the owners felt an auction might be the quickest way to dispose of the asset. "Though there's a perception among the general public that when a property goes to auction it indicates some sort of financial struggle on the seller's part, that's not the case here," she tells GlobeSt.com, adding that auction is fast becoming the sale approach for a variety of luxury property types. This is especially the case with a boutique resort property like Snowy Mountain Inn, she says.