Boyne Resorts to acquire Loon MountainStaff report
March 14. 2018 11:46PM
LINCOLN — Michigan-based Boyne Resorts has agreed to acquire six mountain resorts — including Loon Mountain in Lincoln — and a scenic chairlift attraction from Ski Resort Holdings, an affiliate of New York-based Oz Real Estate.
The companies did not disclose financial terms of the deal, which also include Cypress Mountain in Vancouver, British Columbia; Gatlinburg Sky Lift in Gatlinburg, Tenn,; and Sugarloaf and Sunday River resorts in Maine. The acquisition is expected to close later in the year.
Boyne Resorts had been leasing and operating the properties. The transaction is expected to close later this year.
“Our intention all along has been to regain and acquire ownership of these resorts,” said Stephen Kircher, president and chief executive officer of Boyne Resorts, in a statement Tuesday.