Booth Creek Transfers Control of Loon and Summit-at-Snoqualmie To Boyne
SAM Magazine--September 19, 2007--Vail, CO--Booth Creek Ski Holdings, Inc., entered into an agreement with Boyne USA for the sale and transfer of Booth Creek's equity interests in Loon Mountain, N.H., and the Summit-at-Snoqualmie, Wash. Upon closing of the stock transfer, Loon and the Summit will continue to operate the respective resorts under long-term lease arrangements with CNL Properties, the owner of the assets comprising the two resorts.
This is not the first time that CNL and Boyne have worked together--they recently announced that CNL-owned SugarLoaf and Sunday River in Maine will be run by Boyne. CNL also recently purchased Mountain High in California.
Booth Creek will continue to operate Northstar-at-Tahoe and Sierra-at-Tahoe, Calif., under long-term lease arrangements with CNL. In New Hampshire, Booth Creek retains its ownership and management of Cranmore and Waterville Valley. In addition, the Threedom Pass, which is valid at Loon, Waterville and Cranmore, will continue to be in place and sold for the 2007-08 season.
The transaction is anticipated to close on September 30, 2007.