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.