marzNC
Angel Diva
The ski industry ownership list is about to change, although it won't make any difference to most skiers and boarders. Boyne Resorts is about to buy the six ski resorts they have been operating for real estate holding companies under long-term lease agreements. The sale should be complete in 2018, well before the 2018-19 season starts. Includes the Gatlinburg Sky Lift in TN in addition to:
Excerpt from press release on 3/12/18:
Boyne Resorts to Acquire Ownership of Seven Resorts and Attractions
Included in the transaction are Brighton Resort in Big Cottonwood Canyon near Salt Lake City, Utah; Cypress Mountain in Vancouver, B.C.; Gatlinburg Sky Lift in Gatlinburg, Tennessee; Loon Mountain in New Hampshire; Sugarloaf and Sunday River resorts in Maine; and The Summit at Snoqualmie near Seattle, Washington. The transaction is expected to close later this year and well ahead of the 2018/19 ski season, once regulatory approvals are granted.
"Our intention all along has been to regain and acquire ownership of these resorts," said Stephen Kircher, president and chief executive officer of Boyne Resorts. "We are pleased to see this come to fruition and also really proud of our long-term achievements and diligence that primed us for this acquisition. Boyne Resorts has been a long-term operator of these assets—some for decades. This transaction therefore poses no business interruption or integration risk. This opportunity now at hand will enable us to accelerate and fine tune the execution of our reinvestment plans for these spectacular properties, which will boost our competitive advantages and support our focus on continuous enhancement of the guest experience."
- Brighton, UT
- Loon, NH
- Sunday River, ME
- Sugarloaf, ME
- The Summit at Snowqualmie, WA
- Cypress Mountain, BC
Excerpt from press release on 3/12/18:
Boyne Resorts to Acquire Ownership of Seven Resorts and Attractions
Included in the transaction are Brighton Resort in Big Cottonwood Canyon near Salt Lake City, Utah; Cypress Mountain in Vancouver, B.C.; Gatlinburg Sky Lift in Gatlinburg, Tennessee; Loon Mountain in New Hampshire; Sugarloaf and Sunday River resorts in Maine; and The Summit at Snoqualmie near Seattle, Washington. The transaction is expected to close later this year and well ahead of the 2018/19 ski season, once regulatory approvals are granted.
"Our intention all along has been to regain and acquire ownership of these resorts," said Stephen Kircher, president and chief executive officer of Boyne Resorts. "We are pleased to see this come to fruition and also really proud of our long-term achievements and diligence that primed us for this acquisition. Boyne Resorts has been a long-term operator of these assets—some for decades. This transaction therefore poses no business interruption or integration risk. This opportunity now at hand will enable us to accelerate and fine tune the execution of our reinvestment plans for these spectacular properties, which will boost our competitive advantages and support our focus on continuous enhancement of the guest experience."
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