Mid-Atlantic Blue Mountain Resort sold

[gwasson]

Hope they run this better than Camelback.

Blue Mountain Resort sold for $32 million to group that includes Camelback operator

Blue Mountain Resort has officially been sold, ushering in a new chapter for the longtime Carbon County ski destination that involves a familiar name who has led the operation for the last 15 years…

www.mcall.com

Blue Mountain Resort has officially been sold, ushering in a new chapter for the longtime Carbon County ski destination that involves a familiar name who has led the operation for the last 15 years as well as a private equity-backed hospitality company.
Tuthill Corp. sold 33 parcels in Lower Towamensing Township to Denver-based BMR Resort LLC for nearly $31.9 million, according to a deed recorded July 13.
BMR Resort traces to KSL Capital Partners, a Denver private-equity firm that focuses on investments within hospitality, recreation, clubs, real estate and travel services. KSL Capital is affiliated with KSL Resorts, which operates Camelback Resort in the Poconos and confirmed in May that it would manage Blue Mountain.
What wasn’t clear until the deed became public was whether KSL was taking an ownership interest in Blue Mountain.
A KSL Resorts spokesperson confirmed Monday that BMR Resort is the company formed to buy the land, buildings and assets of Tuthill Corp., the prior operator of Blue Mountain.
Blue Mountain President and CEO Barbara Green, who took over the resort in 2007 from her father, founder Ray Tuthill, “remains as an owner” of BMR Resort and continues as CEO.

 

[Living Proof]

The initials BMR have been associated with the Blue Mountain Racing program for many years. I think it is the largest racing program in the state.

My read of the above is Barbra Green continues as CEO of the former family operated business, while she is an owner, almost certainly a minority share. It takes a shrewd manager to make a financial profit at a ski area on the southern edge of the east coast skiing, and, she has always been very cost-control conscious. Minimal staffing levels and lifts not spinning are common, and, frustrating to locals.

This sale has been long anticipated, it's no longer the era of family-owned resort businesses. The open question is how KSL intends to grow the resort into more of a 4 season business, land is available for development.. In the short term, Blue can't change very much ithout significant capitol investment. An example is the trail map for several years showed a new trail "coming soon". This past season it finally opened on a very limited basis without snow making.