Quote:
Originally Posted by pedalbiker
Boyne of Michigan has been advertising their season passes on the radio this week and mentioning 1/2 price tickets at their other resorts. They are also saying something about 3 more additions to be announced soon. Any ideas on what might be in the works?
Thanks
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Rumor around NE is that Boyne has picked up operation of Snoqualmie (WA) from Booth Creek and is anticipated to do the same with Loon Mountain (NH) and possibly Waterville Valley (NH) and/or Mt. Cramnore (NH).
It's all rather hard to follow as a result of Booth Creek's meltdown (second one for George Gillette - Vail before). Last year the senior management of Booth pooled resources and took private ownership/operation of Waterville. The assets of the remaining Booth Creek properties were sold to CNL Investments and leased back on long-term leases. Those properties being Loon, Northstar (CA), Sierra @ Tahoe (CA), and Snoqualmie.
Not sure what happened with Mt. Cranmore in all of the changes, but the Threedom Pass (Loon, Waterville, Cranmore) is actively being sold. It could be that Waterville's new owners don't have the funding they need and may be working a deal with CNL investments to sell that mountain as well. Since CNL and Boyne have a long term relationship, they may be setting Boyne up as tenants for Loon and Waterville under such an arrangement.
Then again, CNL also bought Bretton Woods in 2006 and leases it to Croslin Celebrity (can't remember the exact name), who in turn signed a deal with National Resort Management to manage/operate Bretton Woods. The president of National Resort had a long-term deal with a PGA property yanked out from under him one year into the agreement, so maybe the same thing is up with Bretton Woods. Maybe CNL has convinced Croslin that Boyne is a far better resort operator and Croslin will punt National Resort and have Boyne operate Bretton Woods??
So many possibilites it makes your head spin... but when it's all covered by nice white fluffy stiff and the lifts are running, who cares!
