The owner of two of the largest ski resorts in Maine is considering putting their properties up for sale.
But the sales are unlikely to affect operations at either Sugarloaf Mountain Resort in Carrabassett Valley and Sunday River Resort in Newry.
CNL Lifestyle Properties Inc. of Orlando, Florida, stated in a March 10 filing with the Securities and Exchange Commission that, “We will continue to work aggressively with our investment bankers and advisors to identify and execute strategic liquidity alternatives for the balance of the portfolio. Potential strategic alternatives could include the sale of the Company or our assets, a merger, or listing our common stock on a national exchange.”
As of Dec. 31, CNL Lifestyle owned 105 properties across the country with a combined value of $2.7 billion. The company’s holdings include ski and mountain resorts, theme parks and senior housing.
The two Maine resorts are managed by Boyne U.S.A. Resorts of Petoskey, Michigan, which has a lease on two facilities through 2046. Boyne purchased the two resorts in August 2007 from American Skiing Co. and then immediately sold the assets to CNL but retained the right to operate them.
CNL is a real estate investment trust that invests in income-producing properties with a focus on lifestyle-related industries.
Boyne has invested millions of dollars in the resorts since the acquisition.
Sugarloaf ski resort has 1,230 skiable acres with 161 trails and glades, and Sunday River has 870 skiable acres and 135 trails, according to their websites.
A telephone message was left with a Boyne spokesman on Sunday but not immediately returned.