CNL unable to complete ski resort transaction by year's end

CNL Lifestyle Properties, a real estate investment trust based in Orlando, Fla., recently sold a number of assets including its senior housing portfolio, a dozen marinas, four attractions, and the Mount Washington Hotel and Bretton Woods ski area in New Hampshire. However, the company is still seeking buyers for 15 ski resorts as well as remaining attractions and marinas, an issue that the company has announced will not be concluded by the end of the year.

In a statement to The Los Angeles Times, the REIT's senior managing director, Steve Rice, said it "continues to evaluate strategic options for the remainder of its ski and mountain properties as it seeks to provide liquidity to its shareholders."

Virtual Event

HOTEL OPTIMIZATION PART 2 | SEPTEMBER 10 & 24, 2020

Survival in these times is highly dependent on a hotel's ability to quickly adapt and pivot their business to meet the current needs of travelers and the surrounding community. Join us for Optimization Part 2 – a FREE virtual event – as we bring together top players in the industry to discuss alternative uses when occupancy is down, ways to boost F&B revenue, how to help your staff adjust to new challenges and more, in a series of panels focused on how you can regain profitability during this crisis.


The ski resorts being sold include the 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.

In 2012, CNL was valued at as much as $3 billion.

Suggested Articles

The hotel will implement a new, branded mobile app that delivers control to guests and GEMS, a back-office tool that streamlines operations.

The U.S. is now the only region that has yet to turn a positive month of profit since the COVID-19 pandemic took hold.

While occupancy largely was flat week over week during the seven-day period ending Sept. 19, rate and revenue both declined.