New Sugarloaf owner acquires more resorts

VAIL, Colo. – Vail-based Booth Creek Ski Holdings Inc. has agreed to sell its stakes in two resorts to Boyne USA Resorts, giving Michigan-based Boyne interests in 10 ski areas.

Booth Creek said Wednesday it was selling interests in Loon Mountain Recreation Corp., which operates Loon Mountain resort in New Hampshire, and Ski Lifts Inc., which operates The Summit at Snoqualmie in Washington state, for an undisclosed price.

Last month, Boyne and CNL Income Properties announced a deal involving Sugarloaf USA and Sunday River ski resorts in Maine. CNL bought those resorts but Boyne will operate them under a 40-year lease.

CNL, based in Orlando, Fla., will continue to own the assets after the deal with Boyne closes.

“We will miss having Loon Mountain and the Summit as part of Booth Creek but know that they are joining an established resort operator in Boyne USA Resorts,” Booth Creek President Chris Ryman said in a written statement.

Booth Creek will continue operating four other resorts, including Northstar at Tahoe and Sierra at Tahoe. It owns and manages Cranmore Mountain Resort and Waterville Valley in New Hampshire.