Northstar California Resort (one of the resorts purchased) is already looking ready for ski season. Northstar California Resort photo.
According to a press release from Business Wire, 15 major ski resorts were sold on Wednesday, November 2. EPR Properties bought the 15 resorts from CNL Lifestyle Properties.
Here's what you need to know.
Nothing will change for skiers and employees.
First off, the properties are just changing hands, nothing will change on the mountain.This is just one real estate investment trust (REIT) buying from another REIT.
All these mega companies care about is buying more properties, so they have more money from more leases, so they can increase their payments to their shareholder, which make their shareholders happy.
So EPR will act as owners of the resort but all the resorts will continue to operate the mountain as usual.
The ski resorts include:
Brighton Ski Resort, Utah
Crested Butte Mountain Resort, Colorado
Cypress Mountain, B.C., Canada
Gatlinburg Sky Lift, Tennessee
Jiminy Peak Mountain Resort, Massachusetts
Loon Mountain Resort, New Hampshire
Mount Sunapee Mountain Resort, New Hampshire
Mountain High Resort, California
Northstar Resort, California (operated by Vail, not owned).
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
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