Where to Ski And Snowboard - Biggest US ski resort sale planned

Biggest US ski resort sale planned

19th March 2015, by Abi Butcher

Crested Butte in Colorado is one of 16 US resorts that could make history

The sale of 16 ski resorts in the US could make history if it goes through. The resorts, which include Crested Butte in Colorado, Sugarloaf in Main and Sierra-at-Tahoe in California, could soon be up for sale and if they all go to one buyer it would be the largest single ski transaction in the history of the sport.

CNL Lifestyle Properties, which owns the 16 ski resorts along with more than 100 water parks, marinas and housing developments is said to be planning its “exit strategy” from the ski business following a drop in value. The company was valued at $3billion three years ago, but following a slump in house prices it last June it sold off 48 golf properties for $320 million and in December sold housing for $790 million.

The future of the ski areas, which also include the smaller resorts of Sunday River in Maine, Bretton Woods, Loon Mountain and Mount Sunapee in New Hampshire, Okemo Mountain in Vermont and Brighton in Utah, is currently being evaluated.

But CNL is keen to point out that any sale will have little impact on skiers, because each resort is operated under leases that will stay in place.

“For the skier, it’s a non-event,’ said Steve Kircher of operations for Boyne in Michigan, where the leaseholder will continue operating the resort for several more decades, regardless of its ownership.