Are you ready for the latest in mountain mergers and alpine acquisitions? EPR Properties of Kansas City is buying up 15 ski resorts from CNL Lifestyle Properties. This shouldn’t affect your ski winter – but its wild news with wicked big numbers.
The total ski package is $830 million in a complicate formula of stock, cash and holdings and assets.
Because of the long-term lease agreements between CNL and each of the 14 resorts, no operational or season passholder changes are expected from the sale to EPR, which is expected to close in the spring of 2017 according to Ski Area Management, SAM Magazine.
Karl Kapuscinski, president and CEO of Mountain High and Stevens Pass, said even though the lease for the properties is changing hands, it’s business as usual. “It’s similar to a home mortgage being sold to another bank. Nothing really changes except who you write the check to.”
The EPN/CNL ski resort sale includes
Brighton Ski Resort, Utah (Boyne Resorts)
Crested Butte Mountain Resort, Colo. (Triple Peaks)
Cypress Mountain, B.C., Canada (Boyne Resorts)
Gatlinburg Sky Lift, Tenn. (Boyne Resorts)
Jiminy Peak Mountain Resort, Mass. (Fairbank Group)
Loon Mountain Resort, N.H. (Boyne Resorts)
Northstar, Tahoe CA, managed by Vail Resorts
Mount Sunapee Mountain Resort, N.H. (Triple Peaks)
Mountain High Resort, Calif. (Mountain High Holdings LLC)
Okemo Mountain Resort, Vt. (Triple Peaks)
Sierra-at-Tahoe Resort, Calif. (Booth Creek)
Stevens Pass, Wash. (Stevens Pass Mountain Resort LLC)
Sugarloaf Mountain Resort, Maine (Boyne Resorts)
Summit-at-Snoqualmie Resort, Wash. (Boyne Resorts)
Sunday River Resort, Maine (Boyne Resorts)
Meanwhile Vail Resorts now owns or at least operates 13 ski resorts, and half of the 10 busiest ski areas on the continent, the top three being Whistler Blackcomb, Vail, and Breckenridge.
Beaver Creek, Colorado
Park City (and Canyons) in Utah
Heavenly, Lake Tahoe, California
Northstar (management contract only, purchased by EPR)
Kirkwood, Lake Tahoe, California
Whistler Blackcomb, BC Canada
Wilmot Mountain, Wisconsin
Afton Alps, Minnesota
Mt. Brighton, Michigan
Vail Resorts also holds the RockResorts brand, with luxury ski lodging properties including The Lodge at Vail, The Arrabelle at Vail Square, The Pines Lodge and The Osprey at Beaver Creek , One Ski Hill Place at Breckenridge, and the Grand Teton Lodge Company in Jackson Hole, Wyo.
Winter is coming ski friends…see you on the slopes soon!