SAM Magazine-Orlando, Fla., Oct. 29, 2010-In response to an earlier report on saminfo.com, CNL Lifestyle Properties has informed us that some of the statements in that report may be misleading. Here's a more complete description of the change in management at Northstar-at-Tahoe:

As with other CNL resort properties, CNL owns the land and all improvements on it: the buildings, ski lifts, and snowmaking infrastructure included. Vail Resorts purchased Booth Creek's management and operating contract and now manages resort operations as the tenant-operator, just as Booth Creek did previously. The lease is a long-term lease.

"I am excited about the strength that Vail Resorts brings as one of the industry's leading ski resort operators," said Byron Carlock, president and CEO of CNL Lifestyle Properties Inc. "Northstar-at-Tahoe skiers, and skiers at other Vail resorts, will be excited by the opportunity to ski more resorts through various season pass packages."

"In the last several years, Northstar-at-Tahoe has been one of the nation's fastest-growing ski resorts, thanks to efforts by Booth Creek and CNL Lifestyle Properties to invest in and improve facilities, ski terrain, snowmaking and the guest experience," CNL said in a statement.

Overall, CNL Lifestyle Properties is a nontraded real estate investment trust (REIT) that has a portfolio of 121 lifestyle properties, including 21 mountain properties-15 ski resorts and six mountain villages (for the whole list, see www.cnllifestylereit.com/lifestyle.asp).

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