6 New England Ski Resorts May Go Up For Sale

[Raven]

http://start.new.toshiba.com/news/read/category/US/article/the_associated_press-real_estate_investment_trust_looking_to_sell_16_sk-ap

CNL Lifestyle Properties owns 16 resorts including Sunday River and Sugarloaf in Maine, Bretton Woods, Loon Mountain and Mount Sunapee in New Hampshire, and Okemo in Vermont, any of which could soon be yours...

 

[sardog1]

I already own a piece of Sunapee. Unlike CNL Lifestyle Properties, which is merely a sub-lessee of the premises.

 

[KRobi]

I already own a piece of Sunapee. Unlike CNL Lifestyle Properties, which is merely a sub-lessee of the premises.

As do I. How would this affect the state and other "owners"?

 

[Raven]

As do I. How would this affect the state and other "owners"?

The article made it sound like you wouldn't necessarily notice the change if all of their properties were bought by a single entity.

 

[peakbagger]

The quality of some of the reporting is confusing. It looks like CML owns the land under the resorts and then the actual ski operations are covered by long term leases.? So one company makes money off developing the land and one company makes money on the actual ski operations. If that is correct, the potential impact if there is a adversarial between the future land owner and the current ski area leaseholder. This has happened locally on a smaller basis at time share condo complexes located around a golf course. The time share owners were "guaranteed" access to facilities at low no cost. Once the time shares were built out, the original developer cashed out and facilities ended up under a different owner leaving the time share folks having to pay for facilities that they thought they were guaranteed when they bought their units.

 

[kltilton]

I believe CNL may be the mortgage holder for many of these resorts. I believe that is the case at Cranmore.