Snow Summit and Bear Mountain Up for Sale

SAM Magazine has reported that the Snow Summit Ski Corporation board of directors has retained Houlihan Lokey to market the company, with the possibility of selling it to one of a number of interested buyers.  The corporation owns and operates both, which average more than 700,000 visits annually. 

Based on sales of other ski resorts since 2011, the process is likely to take 6 months to a year.  But several resorts that changed hands this year were sold under the umbrella of a bankruptcy case.  Houlihan Lokey was unsuccessful in selling the Wisp Ski Resort, but the resort was ultimately sold as part of the resort’s chapter 11 bankruptcy case.  The Greek Peak ski resort in Cortland, NY and Sno Mountain in Pennsylvania were also sold in the last 90 days in their respective bankruptcy cases.

 

Montage Takes Over Sno Mountain Ski Resort

After gaining Bankruptcy Court Approval for the transaction, Montage Mountain is back with the acquisition of the former Sno Mountain.  To kick off the business on the right foot, the ski resort’s water park offered free admission for three hours on 6/18/13 during a promotional event.  Montage participated in the World’s Largest Swimming Lesson to promote water safety.