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Not sure what this means but I will double post it in Resort news too.
Windham, NY (Monday, October 24, 2005) -
Snow Time, Inc., owner of Ski Roundtop, Liberty Mountain Resort and Whitetail Mountain Resort, all in Pennsylvania, and Windham Mountain in the Catskill Mountains of eastern New York State, announced today that it has entered into an agreement to sell Windham Mountain to a group led by investors with connections to the Windham community.
Leaders of the group are Dan Frank, president of Windham Mountain; Dick Jordan, a successful local developer; and Stu Berelson, an attorney and long-time Windham skier. Frank, Jordan and Berelson have formed Windham Mountain Partners, LLC, and plan to complete the acquisition of Windham Mountain and its adjoining real estate by mid-November. Terms of the deal have not been disclosed, but the partnership plans to maintain the resort's current management team led by Frank and General Manager Tim Woods.
Irvin S. Naylor, owner and founder of Snow Time, Inc., was approached this past summer regarding the potential sale of the resort. The investors claim to have a long-term connection to Windham Mountain and are committed to further the growth of the resort by investing in the operation and adjoining real estate. "We want to build on the outstanding foundation provided by Snow Time and take Windham to the next level of service and convenience," said Frank. "We intend to infuse significant resources into the resort for the 2006-07 winter season. It will be an exciting time for the staff, community and our guests."
Snow Time will continue to own and operate its Pennsylvania resorts: Ski Roundtop, Liberty Mountain Resort and Whitetail Mountain Resort. "I have no interest in selling the Pennsylvania resorts, individually or collectively," said Naylor. "The sale of Windham Mountain will allow Snow Time management to focus its efforts in one state and one marketplace. We expect this sale to benefit all parties involved."