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CNL Ski Resorts For Sale

post #1 of 8
Thread Starter 

In this Snowbrains article, it is reported that CNL Lifetime Properties owns 16 ski resorts in the US and Canada and has put them all up for sale in the interest of getting out of the ski resort business. 

The thing that struck me is the they own the resort where I work (Northstar) but all this time I've been working for Vail Resorts.

 

They also own other fan favorites, like the Village at Mammoth Mountain. 

 

Here is Snowbrain's List of resorts that CNL owns and who operates them. 

 

Interesting, eh? 

 

Quote:
 

CNL OWNED SKI RESORTS and WHO OPERATES THEM:

Sunday River in Maine (operated by Boyne Resorts)
Sugarloaf in Maine (operated by Boyne Resorts)
Bretton Woods in New Hampshire (operated by National Resort Management Group)
Loon Mountain in New Hampshire (operated by Boyne Resorts)
Mount Sunapee in New Hampshire (operated by Triple Peaks)
Jiminy Peak in Massachusetts (operated by Jiminy Peak Mountain Resort)
Okemo Mountain in Vermont (operated by Triple Peaks)
Crested Butte in Colorado (operated by Triple Peaks)
Brighton in Utah (operated by Boyne Resorts)
Northstar-at-Tahoe in California (operated by Vail Resorts)
Sierra-at-Tahoe in California (operated by Booth Creek Resorts)
Mountain High in California (operated by Mountain High Associates)
Cypress Mountain in BC, Canada (operated by Boyne Resorts) 
Stevens Pass in Washington (operated by Stevens Pass Mountain Resort)
Summit-at-Snoqualmie in Washington (operated by Boyne Resorts)

***

The Village at Northstar Lake Tahoe, CA
Village of Baytowne Wharf* Destin, FL
Village at Blue Mountain* Collingwood, ON, Canada
Village at Copper Mountain* Copper Mountain, CO
Village at Mammoth Mountain* Mammoth Lakes, CA
Village at Stratton* Stratton, VT
Village of Snowshoe Mountain* Snowshoe, WV
Whistler Creekside* Vancouver, BC, Canada

(*Where CNL Lifestyle Properties holds majority ownership, its partners have equal voting rights and share in key decision making.)

post #2 of 8

Vail Resorts has a long term lease on the Northstar land that CNL owns http://news.vailresorts.com/article_display.cfm?article_id=1206

 

I think the "Villages" they own, like Mammoth and Copper, do NOT include the ski area lifts.  I believe that Copper Mountain is mostly on USFS land and that SUP is run by Powder Corp. 

post #3 of 8
Thread Starter 
Quote:
Originally Posted by MEfree30 View Post
 

Vail Resorts has a long term lease on the Northstar land that CNL owns http://news.vailresorts.com/article_display.cfm?article_id=1206

 

I think the "Villages" they own, like Mammoth and Copper, do NOT include the ski area lifts.  I believe that Copper Mountain is mostly on USFS land and that SUP is run by Powder Corp. 


I was new to the Tahoe area when Northstar was acquired by Vail, so that article details evidently slipped my mind. 

 

This will be interesting to see how these sales play out. 

post #4 of 8
CNL is a large non traded REIT, with poor management and high fees.
They pretty much have to liquidate and anyone that invested with them is screwed.
post #5 of 8
post #6 of 8
Strange that they own the village at Creekside, and yet WB has a bunch of their own shops and services there. Strange that they'd pay CNL rent when WB owns the mountain.
post #7 of 8

http://www.dailymail.co.uk/news/article-2995430/CNL-Lifestyle-Properties-sell-16-ski-resorts-Maine-California-worth-hundreds-millions-dollars.html

 

Looks like the announcement to sell was made back in March with a 'decision in the near future' about it's ski resorts.

CNL has already agreed to sell golf properties for $320million and senior housing for $790million. 

post #8 of 8

Not much of a surprise but CNL didn't find buyers in 2015 for most of their ski resorts.  Bretton Woods was sold to Omni late in the year.  Omni Hotels and Resorts has been the operator of Bretton Woods since 2009.  Boyne operates six of the CNL resorts.  Triple Peaks operates three.

 

Sunday River in Maine (operated by Boyne Resorts)
Sugarloaf in Maine (operated by Boyne Resorts)
Loon Mountain in New Hampshire (operated by Boyne Resorts)

Cypress Mountain in BC, Canada (operated by Boyne Resorts)

Brighton in Utah (operated by Boyne Resorts)

Summit-at-Snoqualmie in Washington (operated by Boyne Resorts)

Jiminy Peak in Massachusetts (operated by Jiminy Peak Mountain Resort)

Okemo Mountain in Vermont (operated by Triple Peaks)

Mount Sunapee in New Hampshire (operated by Triple Peaks)
Crested Butte in Colorado (operated by Triple Peaks)

 

Northstar-at-Tahoe in California (operated by Vail Resorts)
Sierra-at-Tahoe in California (operated by Booth Creek Resorts)
Mountain High in California (operated by Mountain High Associates)
Stevens Pass in Washington (operated by Stevens Pass Mountain Resort)

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