Boyne Resorts today announced closing of a purchase transaction with Ski Resort Holdings, LLC, an affiliate of Oz Real Estate, to acquire six mountain resorts and a scenic chairlift attraction previously leased by the resort company. Boyne Resorts has been the long-term operator of the seven newly acquired assets and also owns three resorts in northern Michigan and Big Sky Resort in Montana. As third largest based on skier visits, Boyne Resorts' portfolio of mountain properties is the most geographically diverse among all North American ski resort companies.
"Having focused for several years on regaining and acquiring ownership of these resorts, today is exceptionally gratifying." said Stephen Kircher, president and chief executive officer of Boyne Resorts. "We are proud of the achievements reflected in these acquisitions and excited about the opportunities ahead at all of our properties, as well as for our team members, guests and the communities we are part of."
Included in the transaction with Oz Real Estate are Brighton Resort in Big Cottonwood Canyon near Salt Lake City, Utah; Cypress Mountain in Vancouver, B.C.; Gatlinburg SkyLift in Gatlinburg, Tennessee; Loon Mountain Resort in New Hampshire; Sugarloaf and Sunday River Resort in Maine; and The Summit at Snoqualmie near Seattle, Washington.
"We have valued our relationship with Oz Real Estate and look forward to working with them in the future on new opportunities," said Roland Andreasson, chief financial officer of Boyne Resorts.
For nearly 70 years, Boyne Resorts has maintained a heritage of innovative firsts including a recent announcement to install an eight-seat, high-speed chairlift—the first in North America at its Big Sky Resort in Montana. Development of patented and proprietary snowmaking systems, installation of the world's first triple and quad chairlifts plus America's first high-speed six-place chairlift, and being one of the first to transform ski areas into four-season resorts are highlights from a history of this pioneering spirit that remains very much alive throughout the company's operations today.