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CNL looking to sell, Boyne will continue to operate SR, Sugarloaf, Loon, Brighton

marzNC

Angel Diva
Recently there was mention that the resorts in New England that are managed by Boyne are up for sale. The owner is CNL Lifestyle Properties, which is a REIT that owns 16 resorts. Boyne has long term leases to operate Sunday River and Sugarloaf in Maine, Loon Mountain, NH, and Brighton in Utah. Other CNL ski resorts include Bretton Woods,and Mount Sunapee in New Hampshire, Okemo Mountain in Vermont, Crested Butte in Colorado, , and Northstar-at-Tahoe and Sierra-at-Tahoe in California. CNL announced on March 14, 2015 they are looking to sell as part of an expected "exit strategy" since the REIT is nearing its expected endpoint as an investment venture.

* * * From an ABC News article on 3/14/15:
A Boyne official said skiers needn't worry about the potential sale of their beloved ski mountains.

"For the skier, it's a nonevent," said Steve Kircher, president of eastern operations for Boyne, which will remain the lease holder, regardless of ski resort ownership, for several more decades.
 

santacruz skier

Angel Diva
Recently there was mention that the resorts in New England that are managed by Boyne are up for sale. The owner is CNL Lifestyle Properties, which is a REIT that owns 16 resorts. Boyne has long term leases to operate Sunday River and Sugarloaf in Maine, Loon Mountain, NH, and Brighton in Utah. Other CNL ski resorts include Bretton Woods,and Mount Sunapee in New Hampshire, Okemo Mountain in Vermont, Crested Butte in Colorado, , and Northstar-at-Tahoe and Sierra-at-Tahoe in California. CNL announced on March 14, 2015 they are looking to sell as part of an expected "exit strategy" since the REIT is nearing its expected endpoint as an investment venture.

* * * From an ABC News article on 3/14/15:
A Boyne official said skiers needn't worry about the potential sale of their beloved ski mountains.

"For the skier, it's a nonevent," said Steve Kircher, president of eastern operations for Boyne, which will remain the lease holder, regardless of ski resort ownership, for several more decades.
I thought Vail Resorts owned Northstar…. Actually I'm positive of that...
 

marzNC

Angel Diva
I thought Vail Resorts owned Northstar…. Actually I'm positive of that...
It's very confusing. Vail both owns and manages a bunch of ski resorts. Same for Boyne, but Boyne manages more places than they own. Vail operates Northstar but does not own it. Just as Vail operates Canyons but it's still owned by Talisker. I thought Boyne owned and operated Brighton, but turns out Boyne is only the operator with a long term lease.

Found this list on the National Ski Areas Assoc. (NSAA) website:

Vail Resorts, Inc. (NYSE : MTN)
Afton Alps, Minnesota
Beaver Creek Resort, Colorado
Breckenridge Ski Resort, Colorado
Canyons Resort, Utah (1)
Heavenly Mountain Resort, California/Nevada
Keystone Resort, Colorado
Kirkwood Mountain Resort, California
Mount Brighton, Michigan
Northstar-at-Tahoe, California (2)
Park City Ski Area, Utah
Vail Mountain, Colorado

(1) Resort is operated under long-term agreement by Vail Resorts, Inc. Resort is owned by Talisker Corporation.

(2) Resort is operated under long-term agreement by Vail Resorts, Inc. Resort is owned by CNL Lifestyle Properties.
 

santacruz skier

Angel Diva
It's very confusing. Vail both owns and manages a bunch of ski resorts. Same for Boyne, but Boyne manages more places than they own. Vail operates Northstar but does not own it. Just as Vail operates Canyons but it's still owned by Talisker. I thought Boyne owned and operated Brighton, but turns out Boyne is only the operator with a long term lease.

Found this list on the National Ski Areas Assoc. (NSAA) website:

Vail Resorts, Inc. (NYSE : MTN)
Afton Alps, Minnesota
Beaver Creek Resort, Colorado
Breckenridge Ski Resort, Colorado
Canyons Resort, Utah (1)
Heavenly Mountain Resort, California/Nevada
Keystone Resort, Colorado
Kirkwood Mountain Resort, California
Mount Brighton, Michigan
Northstar-at-Tahoe, California (2)
Park City Ski Area, Utah
Vail Mountain, Colorado

(1) Resort is operated under long-term agreement by Vail Resorts, Inc. Resort is owned by Talisker Corporation.

(2) Resort is operated under long-term agreement by Vail Resorts, Inc. Resort is owned by CNL Lifestyle Properties.

Well that is interesting…. I don't even think Northstar employees realize that. There are many shops in Northstar village that (employees) claim they are owned by Vail Resorts, such as North Face, Patagonia, Oakley, Burton…. Thanks for the clarification!
 

ZealouslyB

Ski Diva Extraordinaire
Hmmm... interesting as @lisamamot and I were just talking about the 2015-16 New England Pass (Sunday River, Sugarloaf and Loon- all Boyne). The price dropped significantly for next year, they also changed and eliminated several pass holder benefits then added a new MAX Pass option. First time in a decade at least since they lowered prices.
 

MaineSkiLady

Angel Diva
The price dropped significantly for next year, they also changed and eliminated several pass holder benefits
Clueless/duh - have totally forgotten what the pre-late-April pass prices were last year. Weren't golds 999 for early purchase last year? Besides no more Big Sky options incorporated into passes, what other benefits are no longer there? I don't take advantage of too many but thought the Big Sky lift ticket deal (with Big Sky accommodations purchase) appeared to be the only change. 4-for-55-each ticket purchase option and ski shop discount is still there for gold. ??
 

MaineSkiLady

Angel Diva
* * * From an ABC News article on 3/14/15:
A Boyne official said skiers needn't worry about the potential sale of their beloved ski mountains.

"For the skier, it's a nonevent," said Steve Kircher, president of eastern operations for Boyne, which will remain the lease holder, regardless of ski resort ownership, for several more decades.
I'll believe it when I see it. There is a rather complex formula that lease holders abide by, in terms of putting back into the resorts, and an equally complex equation that determines which resorts get which dollars for improvement. Sugarloaf has been sitting at the bottom of the barrel for as long as I've been here (14 years), and it shows. Boyne is doing the best it can with what dollars it has for this, but we are decades overdue up here for lift improvements, have only seen one thus far. We deal, but....some further improvements would be great. Now one wonders if there will be no news come this spring. Bets are on.
 

MissySki

Angel Diva
Hmmm... interesting as @lisamamot and I were just talking about the 2015-16 New England Pass (Sunday River, Sugarloaf and Loon- all Boyne). The price dropped significantly for next year, they also changed and eliminated several pass holder benefits then added a new MAX Pass option. First time in a decade at least since they lowered prices.

I don't see any price drop at all.. I paid $999 last spring for the Gold pass and that's the same price now through April 30th.
 

marzNC

Angel Diva
I'll believe it when I see it. There is a rather complex formula that lease holders abide by, in terms of putting back into the resorts, and an equally complex equation that determines which resorts get which dollars for improvement. Sugarloaf has been sitting at the bottom of the barrel for as long as I've been here (14 years), and it shows. Boyne is doing the best it can with what dollars it has for this, but we are decades overdue up here for lift improvements, have only seen one thus far. We deal, but....some further improvements would be great. Now one wonders if there will be no news come this spring. Bets are on.
Someplace I read that CNL plans to have a full "exit strategy" in place by Dec 2015. I get the impression that the REIT was not intended as a long term investment venture. As you say, who knows what will actually happen in the next 2-5 years.
 

ZealouslyB

Ski Diva Extraordinaire
4-for-55-each ticket purchase option and ski shop discount is still there for gold. ??

Used to be 10 tickets a year at either $50 or $55 don't remember which. The benefits at other Boyne resorts were pretty huge... unlimited free tix for Gold passes when you stayed at a Boyne resort, up to 15 for silver at half off.

Pretty sure our silver passes last year were $700 or higher, and there has been a $50 increase annually for the last umpteen years, so we're looking at a savings of like $100 a piece. May breakdown and just buy a gold this year...
 

MaineSkiLady

Angel Diva
Never paid much attention to gold prices, as we have always been silver. And we still gag when we hear about epic pass prices....:rolleyes:
But we've even moved on from that now (never mind...), as I "get" a "new" discount and DH is with Maine Adaptive Sports, so he gets one with them.

:focus: I still think if there is a sale, there will be ripples felt at the ski resorts.
 
Last edited:

marzNC

Angel Diva
I think this is the complete list of ski resorts currently owned by CNL, half in New England and half out west.
  • Cypress Mountain, British Columbia, managed by: Boyne USA
  • Summit-at-Snoqualmie Resort, Washington, managed by: Boyne USA
  • Brighton Ski Resort, Utah, managed by: Boyne USA
  • Loon Mountain Resort, New Hampshire, managed by: Boyne USA
  • Sugarloaf USA, Maine, managed by: Boyne USA
  • Sunday River, Maine, managed by: Boyne USA
  • Northstar-at-Tahoe Resort, California, leased by: Vail Resorts
  • Sierra-at-Tahoe Resort, California, managed by: Booth Creek Inc.
  • Mountain High Resort, California, managed by: Mountain High Resort Associates LLC
  • Bretton Woods, New Hampshire, managed by: Celebration Associates
  • Jiminy Peak, Massachusetts, managed by: Jiminy Peak Mountain Resort, LLC
  • Cranmore:, NH, managed by: Jiminy Peak Mountain Resort, LLC
  • Stevens Pass, WA, managed by: Stevens Pass Mountain Resort, LLC
  • Crested Butte, Colorado, managed by: Triple Peaks LLC
  • Okemo, Vermont managed by: Triple Peaks LLC
  • Sunapee, New Hampshire, managed by: Triple Peaks LLC
 

santacruz skier

Angel Diva
I think this is the complete list of ski resorts currently owned by CNL, half in New England and half out west.
  • Cypress Mountain, British Columbia, managed by: Boyne USA
  • Summit-at-Snoqualmie Resort, Washington, managed by: Boyne USA
  • Brighton Ski Resort, Utah, managed by: Boyne USA
  • Loon Mountain Resort, New Hampshire, managed by: Boyne USA
  • Sugarloaf USA, Maine, managed by: Boyne USA
  • Sunday River, Maine, managed by: Boyne USA
  • Northstar-at-Tahoe Resort, California, leased by: Vail Resorts
  • Sierra-at-Tahoe Resort, California, managed by: Booth Creek Inc.
  • Mountain High Resort, California, managed by: Mountain High Resort Associates LLC
  • Bretton Woods, New Hampshire, managed by: Celebration Associates
  • Jiminy Peak, Massachusetts, managed by: Jiminy Peak Mountain Resort, LLC
  • Cranmore:, NH, managed by: Jiminy Peak Mountain Resort, LLC
  • Stevens Pass, WA, managed by: Stevens Pass Mountain Resort, LLC
  • Crested Butte, Colorado, managed by: Triple Peaks LLC
  • Okemo, Vermont managed by: Triple Peaks LLC
  • Sunapee, New Hampshire, managed by: Triple Peaks LLC
still surprised about north star…. our tahoe local pass was about $450 which included Saturdays at Northstar, kirkwood, and heavenly with blackouts at obvious holidays (xmas, martin luther's, president's day)….. heard walk up window prices were $120… Yikes…..and people are actually paying that… Met some folks in the gondola who said they didn't realize they could get better prices… This is with limited snow….sounds like east coast resorts are way more… back in the 80's season passes in tahoe were about $1000 or more...
 

BackCountryGirl

Angel Diva
The REIT has always had an expiration date and it's been common knowledge that CNL has to sell to pay off investors. -- SKIING or SKI magazine had an article on this last year and we all were told this in our employee orientation this season. Since the sales have to be made subject to the Boyne leases, there's unlikely to be much change in operations.
 

MaineSkiLady

Angel Diva
Daily operations aren’t the concern as much as whether much-needed capital improvements at some locations will attain any funding, some of which comes from CNL (or>did). Given this pending transition, I tend to doubt it - and some resorts are in serious need, as mentioned above. Some have had capital improvement projects on the back burner since Boyne took over in 2007, hoping to attain necessary funding. Still there....
 

elemmac

Angel Diva
Sugarloaf has been sitting at the bottom of the barrel for as long as I've been here (14 years), and it shows. Boyne is doing the best it can with what dollars it has for this, but we are decades overdue up here for lift improvements, have only seen one thus far.

In 2010 Sugarloaf unveiled it's 2020 plan, which includes 10 years of improvements. Within the last 5 they've invested a lot of money into their snowmaking systems, and have more improvements in the plan. They've cut, and opened Brackett Basin and Burnt Mt, which added 300 acres of skiing, with Phase 3 still in the forecast. They spent $3 million on the last lift replacement in 2011, and are evaluating options for additional lift replacements.

Who knows what selling the mountain may do to their plan for additional improvements, but I'd say that Boyne has done a pretty solid job with the improvements that they've completed thus far.
I also may be biased because I absolutely LOVE Brackett Basin. :bounce:
 

MaineSkiLady

Angel Diva
It’s my home mountain, so I’m well aware of the 2020 plan. If you are a Brackett fan, you must know about some of the plans, forever pushed to the back burner, to replace and lengthen the King Pine lift - and where King Pine is intended to get moved. These are costly projects.

Every spring at passholders’ barbecue, general manager talks about what’s in store. Every year we hold our breaths. Skyline was the epitome of happiness. In terms of lift projects, not much else has happened since Boyne - or long before.

The 2011 Skyline replacement likely would not have happened when it did had Spillway not failed. This is the first new lift Sugarloaf has had since 1997 (Whiffletree). The Bucksaw chair dates to the mid 1960's. Double Runners aren’t too far behind. The gondola mid-station only just came down in 2008. The gondola summit building remains, decaying. There has not been, since the mid 1990's, any funding to either restore and improve it or demolish it. 20 years of nothing.

Good PR and marketing have focused on the improvements, of course, as they should. There is no argument from anyone, however, on the status of the lifts. Even the Superquad has had more issues than any detachable should have, with innumerable rebuilds of various systems just in the last few years.
 

elemmac

Angel Diva
I wouldn't argue that there is still a lot of improvements that are needed, especially on the lifts. 100%, wholeheartedly agree with you. I was just looking to give Boyne a little credit on what they have done. I think they've done a pretty good job at both Sugarloaf and Sunday River on the improvements they have accomplished.
 

MaineSkiLady

Angel Diva
Brackett was Huge news, granted. Put the place back on the map, especially with the upsurge in sidecountry and AT skiers. That all of it is patrolled is even more amazing. The place swallows untold numbers of skiers on a good-snow day.

But access is tricky, and return is worse. (Been down to the log yard yet? No Easy Way Out.) Burnt Mountain access was only good during the heavy Feb snows - and I’ve heard it’s an all-day trip.

And the core focus on groomed-run skiers has been somewhat lost, beyond the snowmaking guns improvement (for which all are grateful). We get the base village buildings painted. Well, they needed it. This doesn’t represent “improvement” to me as much as “regular maintenance?”

This whole downward spiral began, of course, with American Skiing Corporation and its focus - which never was on Sugarloaf, not once. ASC possibly wanted to let it “ride on its reputation.” It didn’t work.

Day visits are up now, resort operated in black last year and aiming for repeat this year, management is pleased. 2nd weekend of April is one of their biggest of the season.
 

ZealouslyB

Ski Diva Extraordinaire
At SR the only improvements I've really seen are a few new glade trails (they cut a few and opened a few lift lines to skiing), and tons of upgrades to snowmaking. Which I cannot complain about because before this year we had a string of rough winters and having skied other Eastern resorts more of late I take for granted how spoiled we are with snow quality. But. This has driven pass prices up, and in the meantime all of the lodges have been left unattended/unchanged. Most of the lodges have gross old bathrooms and old plumbing, for instance. White Cap is really aging and instead of upgrades there have been rumbles about tearing it down completely, which would a shame. A change in operator could mean years more of inattention. On some level it means less vacationer traffic, but that's just convenient for us regulars and not necessarily what's best for the resort!

@MaineSkiLady - I'd like to see a magical transporter to get people from the parking lot to the base area at Sugarloaf, when do you think that's coming?? ;-)
 

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