Booth Creek Sale Finalized

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SAM Magazine--Vail, Colo., January 22, 2007--Booth Creek Ski Holdings, Inc. (Booth Creek), owner of six mountain resort properties and select real estate holdings, announced today that it has been purchased by three principals of the company: George Gillett, chairman; Chris Ryman, president; Elizabeth Cole, chief financial officer. Jeff Joyce, a long-time business partner of Gillett, is a fourth principal involved in the purchase. 

Booth Creek consists of six resorts across the United States including: Northstar-at-Tahoe Resort and Sierra-at-Tahoe Resort in California; Waterville Valley, Cranmore Mountain Resort and Loon Mountain in New Hampshire and The Summit at Snoqualmie near Seattle, Washington.

Booth Creek today also closed the sale-leaseback of Northstar Resort, Sierra Resort, Loon Mountain and The Summit-at-Snoqualmie with CNL Income Properties, Inc. 

Booth Creek Ski Holdings, Inc. continues to own Cranmore Mountain Resort and Waterville Valley. The company and the resorts plan to continue business as usual with day-to-day operations remaining unaffected. This transaction will not impact any resort products including multi-resort season passes or lift ticket products. \