Ski industry news over the last six-plus months has been flooded with stories about Vail Resorts and Alterra Mountain Company and their Pokémon-like quest to buy up or partner with every ski resort they possibly can to add to their constantly growing ski resort empires. With this bombardment of "Epic v. Ikon" news, many smaller resort companies seem to have fallen off the map, until recently.
Announced earlier this week, Boyne Resorts, based out of Michigan, has purchased six ski resorts across North America, stretching from Maine to Vancouver. Boyne, who previously only owned a few resorts across Michigan as well as Big Sky in Montana, more than doubled their property count with the addition of Brighton in Utah, Loon Mountain in New Hampshire, Sugarloaf and Sunday River in Maine, The Summit at Snoqualmie in Washington, and Cypress Mountain in British Columbia.
While terms were not disclosed on the deal, the final purchase came after years of long-term lease agreements between Boyne and the acquired resorts' previous owners, Och-Ziff Capital Management (OZ Management), a hedge fund group based in New York City. Though Boyne had helped run the resorts in the past, they now own them outright.
Boyne's purchase makes them the fourth largest mountain resort company in North America, behind Vail Resorts, Alterra Mountain Company, and Peak Resorts, Inc, which owns 12 resorts across the Midwest and Northeast.
Looking ahead to next year, the Boyne properties of Big Sky, Loon Mountain, Sugarloaf, and Sunday River will all be available on Alterra's Ikon Pass, while the rest of their mountains remain unattached to any multi-resort pass offerings.