NYT Covers Stevens Pass Purchase by CNL Lifestyle Properties

Interesting to note that the acquisition of Stevens Pass by CNL Lifestyle Properties was picked up by the New York Times In Transit blog, CNL Adds Stevens Pass to Its Ski Resorts. The blog post paints the acquisition in a positive light:

CNL has no plans to exert broad, cookie-cutter development plans across its resorts but expects skiers to feel its influence indirectly, particularly in capital improvements that previous owners might otherwise have had trouble financing, said Steve Rice, a one-time ski patroller at Stowe who oversees the portfolio that includes the ski areas.

And gives us a little more background on CNL:

This Orlando-based company has in the last decade quietly surpassed the giants Vail Resorts and Intrawest to become the largest owner of ski resorts in the nation. Often, CNL buys the properties and then leases them back to the former owners.

Unfortunately no quotes from Stevens Pass or CNL on the acquisition. And while some people fear that this will mean reduced competition amongst our ski areas (CNL owns Snoqualmie and manages Crystal), Crystal and Stevens appear to be fierce competitors fighting to one-up each other on deals.

Leave a Reply

Your email address will not be published. Required fields are marked *