CrossHarbor Capital Partners LLC and Boyne Resorts, owner of Big Sky Resort, has entered into an agreement to purchase Moonlight Basin Resort, which straddles the other side of Lone Mountain. The acquisition will create the largest ski resort in the Lower 48.
This follows on the heels of the partnership recently acquiring the rights to neighboring residential community Spanish Peaks for a $26.1 million purchase price. No details on the purchase price of Moonlight Basin were made public.
In a joint statement, CrossHarbor and Boyne, said, "the move is the next step in the creation of one of largest and most compelling mountain resort experiences in North America.”
Big Sky, Spanish Peaks and Moonlight Basin combined would create a resort with over 5,700 acres, a 4,350-foot vertical drop, 23 chairlifts and 10 surface tows. It would outdo Vail by more than 400 acres, which currently holds the title. Boston-based CrossHarbor also owns the Yellowstone Club, a private operation located next to Big Sky. The Yellowstone Club, Spanish Peaks and Moonlight Basin have all filed for bankruptcy in the past.
“The investment reflects the broader potential we see for the region and sets the foundation for long-term growth,” the partners also said in the statement.
No information was currently available on when the consolidation is to actually take place, or how it will impact lift ticket and season pass prices when it takes place.
“The alliance to acquire Moonlight Basin and Spanish Peaks with CrossHarbor Capital Partners, another long-term strategic player in the Big Sky area, creates the opportunity for a stable and coordinated effort in helping the community and the region fulfill its experiential and economic potential," said Stephen Kircher, President of Boyne’s Eastern Operations. "For over 37 years, Boyne Resorts has been a steady custodian of growth of Big Sky Resort. We are truly excited about the positive impact this alliance will have on Big Sky Resort and surrounding communities in Southwestern Montana and permanently solidifying the ‘Biggest Skiing in America’."
It all began 60-some years ago when Everett Kircher, Stephen's father, purchased the hillside land in northern Michigan destined to become Boyne Mountain for $1 It's now the largest family-owned company in the snowsports industry with resorts in Maine, New Hampshire, Michigan, Montana, Utah, Washington and British Columbia.
Top Photo: Moonlight Basin Resort/Facebook; Bottom photo: Big Sky Resort