Boyne Resorts Acquiring Ownership Of Seven Resorts And Scenic Chairlift Ride
Boyne Resorts takes on ownership of Loon. (Loon/Facebook)
Boyne Resorts has announced an agreement with Ski Resort Holdings, LLC, an affiliate of Oz Real Estate, to acquire six mountain resorts and a scenic chairlift attraction currently leased by the resort company.
Boyne, who has operated the resorts and owns additional resorts, has a 70-year history of ski industry innovations and is the third largest mountain resort company in North America.
Included resorts are Utah’s Brighton Resort, Loon Mountain in New Hampshire, Maine’s Sugarloaf and Sunday River, Summit at Snoqualmie in Washington, and Cypress Mountain in Vancouver, B.C. The Gatlinburg Sky Lift in Tennessee is also part of the package. The transaction is expected to close later this year and well ahead of the 2018/19 ski season.
"Our intention all along has been to regain and acquire ownership of these resorts," said Stephen Kircher, president and chief executive officer of Boyne Resorts, in a prepared statement. "We are pleased to see this come to fruition and also really proud of our long-term achievements and diligence that primed us for this acquisition. Boyne Resorts has been a long-term operator of these assets—some for decades. This transaction therefore poses no business interruption or integration risk. This opportunity now at hand will enable us to accelerate and fine tune the execution of our reinvestment plans for these spectacular properties, which will boost our competitive advantages and support our focus on continuous enhancement of the guest experience."
Boyne Resorts was founded by Everett Kircher in 1947 at Boyne Mountain, Michigan. In addition to the above mentioned resorts the corporation owns and operates Boyne Highlands and the Inn at Bay Harbor, both located in Michigan, and Montana’s Big Sky.