Stevens Pass Ski Resort is under new ownership. New York hedge fund manager Och-Ziff will assume ownership of 14 properties located across the United States including Stevens Pass and The Summit at Snoqualmie Pass from Florida-based CNL Lifestyle Properties
The company reports that skiers won’t see a big impact. Long-term leases will remain in place, so mountain operators will remain unchanged after the properties change hands.
CNL will receive about $830 million in cash and stock under the purchase and sale agreement. When the deal closes, it will be the largest ski resort transaction in the history of the sport.