Booth Creek Transfers Control of Loon and Summit-at-Snoqualmie To Boyne

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Publish Date

09/19/2007

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.

Comments

Ski School Fears

The unfortunate thing that Boyne has done at Crystal, and I fear they will do at the Summit, is essentially push out the concession ski schools. And while this is the only region in which ski schools operate this way, it is a tremendous part of the skiing fabric and network here. There is no way that the area-owned ski schools can pick up all of the business these schools represent. It's a new era, but I'm not sure if it's a good one in this day when we are trying increase the number of skier/riders, not push them out. It will be interesting to see the impact over the next 2 seasons.

Hope!

Keep your fingers crossed folks! Hopefully this will shake up the management team at Loon. A much need changing of the guards would help this resort greatly. \

OH NO!!!

Oh No! BOYNE!!??? What does this mean exactly for resort operations? Is this just a transfer of money between the white collars? I just moved from michigan to get away from the Boyne mentality....cough ...cutting corners (pretty much everywhere at the resort from employees to equipment). arghhh.
annonymous... ski area management class of 2004

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