16 Ski Resorts Worth Hundreds Of Millions Could Be Sold

CNL Lifestyle Properties owns 16 resorts including Sunday River and Sugarloaf in Maine, Bretton Woods, Loon Mountain and Mount Sunapee in New Hampshire, Okemo Mountain in Vermont, Crested Butte in Montana, Brighton in Utah, and Northstar-at-Tahoe and Sierra-at-Tahoe in California. CNL will evaluate options for its remaining properties including ski resorts, theme parks and marinas "in the near future," said Steve Rice, senior managing director of CNL Financial Group. Besides selling them, alternatives include a private buyout or listing on a publicly traded exchange. CNL Lifestyle Properties was valued at as much as $3 billion in 2012 with ownership of more than 100 water parks, ski resorts, marinas and senior housing developments before the value dropped in the aftermath of a real estate downturn.

 

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