Michigan-based ski resort operator Boyne Resorts has reached an agreement to assume outright ownership of six ski resorts it’s operating under long-term lease agreements from Maine to Washington State.
The agreement covers Brighton Resort near Salt Lake City; Cypress Mountain in Vancouver, British Columbia; Loon Mountain in New Hampshire; Sugarloaf and Sunday River in Maine; and The Summit at Snoqualmie near Seattle. Also included is the Gatlinburg Sky Lift in Gatlinburg, Tennessee.
The deal with a subsidiary of Oz Real Estate is expected to close later this year.
Boyne President and CEO Steve Kircher says the company has long wanted to own the properties. He says in a statement Monday that the change of ownership will allow the company to accelerate investments in the seven properties.