George N. Gillett and Booth Creek Senior Management Acquire Booth Creek Ski Holdings, Inc. from Existing Shareholders.Booth Creek Completes Sale-Leaseback of Four Resorts with CNL Income Properties CNL Income Properties is an unlisted Real Estate Investment Trust, a division of CNL Financial Group. The company buys resort properties across the nation, but has no day-to-day management involvement in the properties it owns. , Inc. * Day-to-Day Management and Operations of All Booth Creek Resorts Expected to Remain Unaffected VAIL, Colo. -- Booth Creek Ski Holdings, Inc. (Booth Creek), owner of six mountain resort properties and select real estate holdings, announced today that it has been purchased by three principals of the company: George Gillett George Gillett is the name of several people, including:
Booth Creek consists of six resorts across the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. including: Northstar-at-Tahoe[TM] Resort and Sierra-at-Tahoe[R] Resort in California; Waterville Valley, Cranmore Mountain Resort Cranmore Mountain Resort is located in North Conway, New Hampshire. Currently, it is one of New Hampshire's most successful ski resorts. It was founded in 1937 by a group of businessmen, led by Harvey Dow Gibson of Fryeburg, Maine, who wanted to establish North Conway as the and Loon loon, common name for migratory aquatic birds found in fresh- and saltwater in the colder parts of the Northern Hemisphere. Its strange, laughing call carries for great distances. Like the grebes, loons float low in the water and their legs are placed far back. [R] Mountain in New Hampshire New Hampshire, one of the New England states of the NE United States. It is bordered by Massachusetts (S), Vermont, with the Connecticut R. forming the boundary (W), the Canadian province of Quebec (NW), and Maine and a short strip of the Atlantic Ocean (E). and The Summit at Snoqualmie near Seattle, Washington  This page is protected from moves until disputes have been resolved on the .The reason for its protection is listed on the protection policy page. . Booth Creek today also closed the sale-leaseback of Northstar[TM] Resort, Sierra[TM] Resort, Loon[R] Mountain and The Summit-at-Snoqualmie with CNL Income Properties, Inc. Booth Creek Ski Holdings, Inc. continues to own Cranmore Mountain Resort and Waterville Valley. The company and the resorts plan to continue business as usual with day-to-day operations remaining unaffected. This transaction will not impact any resort products including multi-resort season passes or lift ticket products. "We are very pleased to be partnering with CNL Income Properties who is making a long-term commitment to both Booth Creek and the industry," said Gillett. "The company is one of the most active investors in lifestyle, leisure and recreational real estate in the nation with a reputation for honesty and integrity." "CNL Income Properties is a solid financial partner who is committed to our company and the resorts," added Ryman. "This partnership will benefit the guest experience at all of the resort properties and will allow Booth Creek to accelerate its resort growth strategy, particularly at Northstar-at-Tahoe[TM] Resort and Loon[R] Mountain." Booth Creek Moving Forward with Accelerated Growth Strategy: Northstar-at-Tahoe[TM] At the forefront of Booth Creek's current business plan has been the on-going development of Northstar-at-Tahoe[TM] Resort. Welcoming guests during the 2006-2007 season: * A new base Village including 100,000 square feet of commercial space encompassing over 30 different specialty retailers, art galleries, restaurants and cafes. The new Village at Northstar[TM] also features a 9,000-square-foot ice rink, and other recreational and entertainment amenities. * $10.5 million in mountain improvements including the new Tahoe Zephyr Zephyr or Zephyrus: see Eos. Express high-speed six-pack chairlift accessing 13 trails and 137 acres of new terrain. * Additional on-mountain improvements to snowmaking snow·mak·ing n. Production of artificial snow in the form of granular ice particles for use on ski slopes. , terrain parks A terrain park is an outdoor area that contains terrain that allows snowboarders and skiers to do tricks. Jibs Jibs are any type of fixture which can be ground, buttered, or tricked off of. and the addition of the Lookout Link surface lift, providing improved access to Lookout Mountain Lookout Mountain, actually a plateau, is located at the northwest corner of Georgia, the northeast corner of Alabama, and along the southern border of Tennessee near Chattanooga. It is one of the southernmost ridge mountains of the Ridge-and-valley Appalachians. . Ongoing at Northstar[TM] Resort is the development by Northstar Mountain Properties and East West Partners of: * 135,000 square feet of commercial space within the new Village at Northstar[TM] bringing the existing total of retail shops and restaurants in the village to roughly 40 distinct offerings * 1,800 new residential units with ski-in/ski-out access * An on-mountain ski-in/ski-out Ritz-Carlton Hotel and residential resort community * Club amenities including golf, on-mountain dining, slope-side lockers, on-mountain dining, Lake Tahoe lakeside dining and lake access, and comprehensive exercise and spa facilities Loon[R] Mountain Highlights include: * The Loon[R] ski area expansion of South Peak will open in December 2007 with two lifts including a new high-speed quad servicing new intermediate and advanced terrain with new snowmaking. Future planned phases will include more lifts, trails and skier amenities. * At the base of the new expansion terrain, the development of South Peak Resort, by Centex Destination Properties, into a four-season luxury mountain destination. About Booth Creek Ski Holdings, Inc. Booth Creek consists of six resorts across the United States including: Northstar-at-Tahoe[TM] Resort and Sierra-at-Tahoe[R] Resort in California; Waterville Valley, Cranmore Mountain Resort and Loon[R] Mountain in New Hampshire; and The Summit at Snoqualmie near Seattle, Washington. Booth Creek is the fourth largest ski resort owner in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . For more information, visit www.boothcreek.com. About CNL Income Properties, Inc. CNL Income Properties, Inc. is a real estate investment trust that owns a portfolio of 54 properties in the United States and Canada in the lifestyle and recreation sectors. Headquartered in Orlando, Fla., CNL Income Properties specializes in the acquisition of golf courses, ski resorts, marinas, campgrounds, merchandise marts, destination retail and entertainment centers, and attractions, among other asset types. For more information, visit www.cnl CNL CityNightLine (German Rail) CNL Cancel CNL Clinical Nurse Leader Cnl Colonel CNL Center for Naval Leadership CNL Compensated Neutron Log (oil industry) .com. |
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