Sale of Crested Butte won't happen by year's end

Posted at 5:07 PM, Dec 27, 2015
and last updated 2015-12-27 19:07:10-05

A real estate investment trust isn't going to meet its goal of selling more than a dozen ski resorts from Maine to California by year's end.

Florida-based CNL Lifestyle Properties has sold its senior housing, many marinas and attractions, and the Mount Washington Hotel and Bretton Woods ski area in New Hampshire.

But it continues to seek buyers for 15 additional ski resorts, including Sunday River and Sugarloaf in Maine, Loon Mountain and Mount Sunapee in New Hampshire, Okemo Mountain in Vermont, Crested Butte in Colorado, Brighton in Utah and Sierra-at-Tahoe in California.

The transaction won't have a big impact on skiers since operator leases for the resorts will remain intact. CNL told shareholders this month that it will provide an update in the first quarter of 2016.


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