marzNC
Angel Diva
After looking around more carefully, became clear that VR does not own Northstar. They only hold a long-term lease to be the operator. EPR is the owner. That's the real estate company that bought all the ski resorts that were being held by CNL for a while.Below are the dates of VR acquisitions starting in 2010:
2010 - Northstar, CA (Tahoe)
Turns out that EPR is also the owner of several of Peak Resorts resorts. Peak only operates Mount Snow and Hunter. I assume Peak was taking the same approach that Boyne Resorts took when they sold several resorts to CNL and got long-term leases as the operator, but kept ownership of Big Sky, Boyne Mountain, and Boyne Highlands. That was a way to avoid borrowing too much money. A few years ago Boyne figured out a way to raise enough money to buy back their resorts from EPR. Peak found a different way out.
OWNED BY EPR, OPERATED BY PEAK RESORTS as of July 2019
Mount Snow in Vermont
Hunter Mountain in New York
Jack Frost and Big Boulder in Pennsylvania
Alpine Valley, Boston Mills, Brandywine and Mad River Mountain in Ohio