Florida-based investment trust CNL Lifestyle Properties has reached an agreement to sell the resorts to a New York hedge fund manager. The properties, from Maine to California, will sell for $830 million in cash and stock.
The sale won’t change anything for skiers and how the resort operates, said Scott Clarkson, vice president of marketing and sales for Crested Butte Mountain Resort.
"It’s almost like we have a different landlord, but we’re a tenant with a renewable lease," Clarkson said. "There really isn’t any change. It’s just a difference in who the rent gets paid to.”
The deal is expected to be finalized next year. If it closes, it’ll be one of the largest single ski resort transaction in the history of the sport.