You guys are slipping...(Okemo sold?!?!)

[Highway Star]

Could be a hoax, but here it is anyway....

http://www.killingtonzone.com/forums/viewtopic.php?f=1&t=24913

 

[noski]

Could be a hoax, but here it is anyway....

http://www.killingtonzone.com/forums/viewtopic.php?f=1&t=24913

I doubt it's a hoax since it's in the Wall Street Journal.

 

[frozencorn]

Wonder if we'll now add Okemo to the New England pass next season?

 

[thetrailboss]

That was posted on KZone this morning....it's not like this is last week's news. Sounds like a refinancing deal.

 

[ctenidae]

http://online.wsj.com/article/SB122843720196781403.html?mod=googlenews_wsj

Does appear to sort of a sale and lease-back. Really, it makes a lot of sense. The Meullers are operators, not land owners. CNL are land owners, not operators. So, the the operators operate and the owners own.

 

[tcharron]

Could be a hoax, but here it is anyway....

http://www.killingtonzone.com/forums/viewtopic.php?f=1&t=24913

Huh. Probably just a transfer of investment properties.

 

[andyzee]

Instead of slipping, I think it's more a case of "Who Cares" But we do thank you for showing off your reading comprehension skills.

 

[deadheadskier]

That's too bad, I like the idea of owner operated better. I like the idea of family businesses that get passed down generations.

 

[thetrailboss]

That's too bad, I like the idea of owner operated better. I like the idea of family businesses that get passed down generations.

The taxes and expenses involved in owning the land make it too cost prohibitive I imagine....especially in Vermont.

 

[deadheadskier]

The taxes and expenses involved in owning the land make it too cost prohibitive I imagine....especially in Vermont.

I would think their involvement with Crested Butte would be the major reason to consider a sale. During poor economic times, I'd imagine those kind of places suffer the most.

 

[Puck it]

How can this be for Mt. Sunapee? This is owned by the state and they lease it from state? CNL taking over the lease?

 

[drjeff]

How can this be for Mt. Sunapee? This is owned by the state and they lease it from state? CNL taking over the lease?

My guess would be that Sunapee and its lease just got bundled in with the CNL deal and there will be absolutely NO change as to how Sunapee is operated. Sounds like CNL wants to add to the real estate at Crusty Butt and Jackson Bore all the while letting the Mueller's run the mountains in the way that have brought them a loyal customer base and great results.

 

[marcski]

Big News....CNL to buy Okemo and Mueller's holdings

http://www.firsttracksonline.com/Ne...-Okemo-Sunapee-and-Crested-Butte-Ski-Resorts/

 

[drjeff]

Highwaystar beat you by about 3 hours there marcski

http://forums.alpinezone.com/43553-you-guys-slipping-okemo-sold.html

 

[marcski]

See, he was right, I slipped for 3 hours.

 

[ski_resort_observer]

Wow..that is amazing as they were by far already the biggest NE resort owner before this latest acquisition.

 

[thetrailboss]

Merged.

 

[drjeff]

Wow..that is amazing as they were by far already the biggest NE resort owner before this latest acquisition.

How much longer will Les Otten not be part of this

 

[Telemechanic]

Wonder if we'll now add Okemo to the New England pass next season?

I wish! ...but not likely. The Muellers (Triple Peaks) are staying on as operators and the New England Pass is a Boyne thing. What we need is a CNL-Ski-gasm Pass.

I still want to know how the State Of NH fits in here.

 

[ski_resort_observer]

How much longer will Les Otten not be part of this

Actually Les is loving life being back in Maine fulltime and his new business seems to be doing pretty good, despite the economy. I think he was pretty much done with the ski business after he and Cook got back-doored and cut off at the knees by ASC in their pursuit of SR and the Loaf. Cook thought it was such a done deal that he had already met with some of the local officials to give them the heads up on their purchase and general plans.

I am starting to wonder if the powers that be are taking notice of CNL becoming such a dominant player in the NE, much like when they forced Les to shed a couple of resorts after he acquired SKI ltd.