VAIL, Colo.—Vail-based Booth Creek Ski Holdings Inc. has agreed to sell its stakes in two resorts to Boyne USA Resorts, giving Michigan-based Boyne interests in 10 ski areas.
Booth Creek said Wednesday it was selling interests in Loon Mountain Recreation Corp., which operates Loon Mountain resort in New Hampshire, and Ski Lifts Inc., which operates The Summit at Snoqualmie in Washington state, for an undisclosed price.
CNL Income Properties Inc., based in Orlando, Fla., owns the resorts, but Booth Creek operated them in a lease deal. CNL will continue to own the assets after the deal with Boyne closes. The transaction was expected to close around the end of the month.
Last month, Boyne and CNL announced a similar deal involving Sugarloaf USA and Sunday River ski resorts in Maine. CNL bought the resorts but Boyne operates them under a 40-year lease.
“We will miss having Loon Mountain and the Summit as part of Booth Creek but know that they are joining an established resort operator in Boyne USA Resorts,” Booth Creek President Chris Ryman said in a written statement.
Booth Creek will continue operating four other resorts, including Northstar at Tahoe and Sierra at Tahoe. It owns and manages Cranmore Mountain Resort and Waterville Valley in New Hampshire.
Season passes valid for Loon Mountain, Waterville Valley and Cranmore Mountain will still be sold for the upcoming season.
Boyne, based in Boyne Falls, Mich., owns or operates resorts including Cypress Mountain near Vancouver, British Columbia; Big Sky Resort in Montana; Boyne Mountain and Boyne Highlands in Michigan; Brighton in Utah; Crystal Mountain in Washington; Sugarloaf USA and Sunday River Resort in Maine.
