Rumor Mill

[Brew Ski]

Someone I work with said his Sunday River friends mentioned that Sunday River is up for sale again.

Anyone hear about this? Didn't Boyne just buy them a couple years ago?

Bueller, Bueller, ...anyone?...Bueller.

[Hawk]

First I heard of this. I will inquire. That would surprise me greatly. SR is their cash cow.

[Hawk]

BTW.....Boyne bought Sunday River and Sugarloaf the summer of 2007.

[Brew Ski]

Figured you'd be able to get the inside scoop.

[Hawk]

No one has heard anything like this. Actually the opinions are contrary. They are saying that SR is doing well this year with near normal visits. People are still going there because of the reliability of the snowmaking. Oh and Boyne only manages the resort. CNL Lifestyle Properties actually owns Sunday River and Sugarloaf.

[ski_resort_observer]

For anyone that's interested here is a list of who owns what ski resorts in NA. Regarding SL it's sale by ASC was very interesting. Les Otten's group looked like it had an inside track to buying SL but ASC instead sold the place, including the Loaf, to Boyne who then turned right around and sold it to CNL with a contract to manage the resorts.

http://www.mrablog.com/ski-resort-ow...s-what-part-1/

[notorious]

Brewski's co-worker may have read the article in this month's SKI mag which reports on the real estate investment trust which owns SR. (It is the largest owner of ski areas, by far, in North America). Under the terms of the investment trust, liquidation of assets to return investor funds appears mandatory within a couple of years. So SR could be on the block. Management probably won't change as it is long-term leased from the REIT. The return of funds to investors has little to do with the success of the individual areas. It is just how the investment trust is organized.

[Hawk]

Ah, I see. That would explain it. I will have to inquire with a different source. Thanks Notorius. Friday Ski C;ub for you???? We are headed up tonight.

[Xskier]

I hope not. I have land up there waiting to be built on once I sell my sugarbush house, which may take years. Only $1million dollar properties sell up there these days..

[Brew Ski]

Yup, Notorious is right. I followed up with my co-worker. He said his friends who have places at SR were concerned about ownership switching hands. Had to do with the REIT. A little panic in the homeowners there.