Stevens Pass Ski Resort Sold

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Stevens Pass, Washington, USA - December 28, 2015: Stevens Pass Ski Area and the Top Philight Ski and Snowboard Terrain Park lit up by lights at night

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.

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Steve Hair
Steve Hair is a 40-year veteran broadcast journalist who comes to NCW LIFE TV after a long career in radio. Steve and his wife Lynette and their three sons moved to the Wenatchee Valley from Central California in 1992. Steve served as News Director for KPQ News where he covered a multitude of stories of importance to North Central Washington, including two of Washington State’s largest wildfires. During his radio career Steve has received many awards from organizations such as the Associated Press, (Sacramento and Seattle Bureaus) The Washington State Farm Bureau, and the California Medical Association. Steve is a sports addict. Time off usually finds him sprawled out on the couch watching the Seahawks, Mariners or anything that prevents him from doing house chores.