Mar 17, 2015 8:01 AM
16 ski resorts worth hundreds of millions could be sold
The Associated Press
More than a dozen ski resorts could be changing hands as a real estate investment trust considers getting out of the snow business.
CNL Lifestyle Properties owns 16 ski resorts, including Loon, Mount Sunapee, The Omni Mount Washington Resort in New Hampshire. If CNL succeeds in selling all of them to one buyer, then it would be the largest single ski resort transaction in the history of the sport.
Industry officials say the transaction won't have any significant impact on skiers because the resort operators' long-term contracts will remain in place even if the properties change hands.
Last year, CNL enlisted Jefferies LLC to evaluate alternatives as the trust neared the end of its projected lifespan. Options include a sale, private buyout or listing on a publicly traded exchange.