SAM Magazine--October 13, 2011--Spanish Peaks, Mont., a swanky private ski and golf community on Lone Peak, closed its doors and laid off its staff on October 10. According to the "Bozeman Daily Chronicle," the 5,700-acre resort cited the troubled real estate market and substantial operating losses for its closure.

The beleaguered club attempted to restructure debts and attract new investors to no avail, which forced the decision to close. It remains to be seen whether the resort files for bankruptcy.

Spanish Peaks operated three aerial lifts and connected to the terrain at Big Sky and Moonlight Basin.

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