15 of the Most Popular Ski Resorts in North America SOLD in Massive Deal:

SnowBrains | | Industry NewsIndustry News
Crested Butte trail map.
Crested Butte trail map.

15 ski resorts are being sold in a large group sale by CNL Lifestyle Properties, Inc.  CNL has entered into a purchase and sale agreement for its large portfolio of waterparks, amusement parks, and its 15 ski resorts.

Some of these ski resorts are absolutely legendary like:  

  • Crested Butte, CO
  • Brighton, UT
  • Stevens Pass, WA
  • Sunday River, ME
  • Okemo, VT

CNL has been trying to sell these resorts off for the the past 2 years.

Brighton, UT trail map.
Brighton, UT trail map.

The details of the deal are complex:

“In the deal, EPR Properties of Kansas City, Mo., will purchase Northstar-at-Tahoe and CNL’s attraction properties for $456 million. An affiliate of Och-Ziff Real Estate (OZRE), Ski Resort Holdings LLC, is purchasing the 14 other ski resorts from CNL for a total of $374 million, with EPR providing $244 million of five-year secured debt financing to OZRE.

CNL’s compensation from EPR for the portfolio of properties includes $647 million in EPR common stock, and $53 million in cash. Ski Resort Holdings will pay CNL $130 million in cash. In all, CNL’s recreational assets are being sold for $830 million. Once the transaction is finalized, current CNL stakeholders have the option of selling their shares of EPR, or holding onto them.” – Ski Area Management magazine, yesterday

Stevens Pass, WA trail map.
Stevens Pass, WA trail map.

Supposedly, nothing is going to change at these 15 ski resorts.

“It’s similar to a home mortgage being sold to another bank. Nothing really changes accept who you write the check to.” – Karl Kapuscinski, president and CEO of Mountain High and Stevens Pass


“It’s not an event from a skier’s perspective.” – Steve Kircher from Michigan-based Boyne Resorts, which has leases to operate seven of the ski resorts in this deal

CNL was valued at $3 billion in 2012 when they owned over 100 waterparks, ski resorts, marinas, and senior housing developments.

Sunday River, ME trail map.
Sunday River, ME trail map.


  • Brighton Ski Resort, Utah
  • Crested Butte Mountain Resort, Colorado
  • Northstar-at-Tahoe Resort, California
  • Okemo Mountain Resort, Vermont
  • Sierra-at-Tahoe Resort, California
  • Stevens Pass, Washington
  • Sugarloaf Mountain Resort, Maine
  • Summit-at-Snoqualmie Resort, Washington
  • Sunday River Resort, Maine
  • Loon Mountain Resort, New Hampshire
  • Cypress Mountain, B.C., Canada
  • Gatlinburg Sky Lift, Tennessee
  • Jiminy Peak Mountain Resort, Massachusetts
  • Mount Sunapee Mountain Resort, New Hampshire
  • Mountain High Resort, California
Okemo trail map.
Okemo trail map.

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