CNL Resorts Report Big Increases Over Holidays, MLK
CNL Lifestyle Properties, a real estate investment trust (REIT) based in Orlando, Fla. Is reporting a 37 percent increase in paid visits over the MLK weekend and a 41 percent increase year-over-year at the sane time.
The big MLK jump comes less than a month after a strong Christmas and New Years result at its 17 properties. Paid visit jumped 37 percent between Dec. 24, 2012 and Jan. 1, 2013, while revenues also rose by 37 percent. 37 seems to be the magic number.
CNL officials attribute the strong results to ample cold temperatures and early snowfall, capital investments that have opened more terrain and boosted snowmaking capacity at some of its resorts.
CNL has reportedly spent more than $220 million in ongoing capital investments as well as $105 million in capital maintenance funding since acquiring its ski and resort properties.
Photo: Bretton Woods