Maryland’s Wisp Acquired Out Of Bankruptcy; Plans To Open Dec. 14

Posted by Peggi Simmons
Peggi Simmons
Peggi Simmons, Managing Editorial Director for SnoCountry.com, has written and
User is currently offline
on Friday, 07 December 2012 in News
Wisp Resort

A bankruptcy court judge in Greenbelt, Md., approved the sale of Wisp, the state’s only ski resort, for $23.5 million. The buyer was Entertainment Properties Trust (EPT) Ski Properties. Wisp plans a Dec. 14 opening.

 

The same judge also approved the sale of a golf course and other land to National Land Partners for $6.1 million. Closing is expected sometime this month.

 

Wisp Marketing Director Lori Epp told SnoCountry.com the company declined to comment or provide a quote on the sale or management plans "at this time."

 

Wisp had filed for bankruptcy protection in 2011 after defaulting on nearly $30 million in loans it had received from BB&T Corp. of Winston-Salem, N.C., to build a golf course community at the ski area. That development did not sell as anticipated.

 

EPT, a unit of EPR Properties, a Kansas City real estate investment trust (REIT), owns movie theater megaplexes and golf courses, as well as 11 other ski areas leased to Peak Resorts for operations.

 

Those resorts include Jack Frost/Big Boulder in Pa.; Boston Mills/Brandywine and Mad River Mountain in Ohio; Snow Creek in Missouri; Paoli Peaks in Indiana; Mount Snow in Vt.; and Attitash and Crotched Mountain in N.H. All of the properties are located near major metropolitan areas.

 

There has been no confirmation or denial at this point as to whether Peak Resorts would be involved in the operation of Wisp. 

 

Photo: Wisp Resort

Peggi Simmons, Managing Editorial Director for SnoCountry.com, has written and edited snow sports stories for more than 30 years and served as Global Managing Editor of OnTheSnow for 12 years. Her career spans both the advertising and public relations worlds. Simmons lives in the mountains of New Mexico.

Comments

Sandy Black Friday, 07 December 2012

I feel the sale of the Wisp Resort is a outstanding opportunity for its new owners, and the region's snowsports fan. The resort has wonderful snowmaking, grooming, a vast trail system, and great lift capacity in addition to a base lodge and connecting hotel facilities with several amenities. I hope the new ownership will enhance the resort even more. It is a new era for a great resort that has earned its rightful place in the snowsports industry as a mover and shaker. Sandy Black, retired snow sports columnist.

Leave your comment

Guest Tuesday, 02 September 2014

Get $5 off a Purchase

Enjoy the latest news from the world of snow, plus travel features, tips and deals on vacations and lift tickets.