Press Release March 12 2018: Boyne Falls Mich - By Iris Dorbian
Boyne Resorts to Acquire Seven resorts and attractions
“Boyne Resorts has agreed to acquire six mountain resorts and a scenic chairlift attraction from Ski Resort Holdings, an affiliate of Oz Real Estate. As operator of the assets and owner of additional resorts, Boyne Resorts has a 70-year history of ski industry innovations and is the third largest mountain resort company in North America. Included in the transaction are Brighton Resort in Big Cottonwood Canyon near Salt Lake City, Utah; Cypress Mountain in Vancouver, B.C.; Gatlinburg Sky Lift in Gatlinburg, Tennessee; Loon Mountain in New Hampshire; Sugarloaf and Sunday River resorts in Maine; and The Summit at Snoqualmie near Seattle, Washington. The transaction is expected to close later this year and well ahead of the 2018/19 ski season, once regulatory approvals are granted.
Boyne Resorts has been a long-term operator of these assets—some for decades. This transaction therefore poses no business interruption or integration risk. This opportunity now at hand will enable us to accelerate and fine tune the execution of our reinvestment plans for these spectacular properties, which will boost our competitive advantages and support our focus on continuous enhancement of the guest experience.”
Boyne Resorts and its eleven resorts and attractions are ideally positioned for continued and notable growth within the ski, outdoor recreation and resort industries. Founded in 1947, Boyne Resorts the first in North America to Develop, patent and proprietary snowmaking systems, installation of the world’s first triple and quad, America’s first high-speed six-place chairlifts, and being the first to transform ski resorts into four-season operations are just a few examples of a lengthy list of additional innovative launches exemplifying the pioneering spirit that has been celebrated throughout the company’s history.
Boyne Resorts is the third largest mountain resort company in North America;. A Michigan-based corporation, Boyne Resorts’ award-winning mountain and golf resorts and attractions located throughout the United States and Canada include Cypress Mountain near Vancouver, British Columbia, the official freestyle skiing and snowboard venue of the 2010 Olympic Winter Games.”
Loon has been owned for the past dozen years by two different real estate investment trusts. They have not harmed the reputation in any way, but keeping an asset on your books until you can sell generally means no large scale projects will be taken on. The Local community at Loon has been itching for the south mountain expansion bring terrain in to the village of Lincoln and providing more trails to spread out folks more effectively. Question: will this mean new terrain & Lifts?
#loonmtrealtor - www.steveswhitemountainblog.com