Neither company disclosed the purchase price for the ski and summer resort in the San Bernardino Mountains, and ski industry analyst Jeff Harbaugh of Mercer Island, Wash., tells GlobeSt.com that estimating the price of such properties is nearly impossible "unless you know the internal numbers."
Snow Summit Ski Corp. owns the Snow Summit Mountain Resort, near Big Bear, and also owns Sierra Summit Mountain Resort located northeast of Fresno, Calif.
Snow Summit has wanted to buy Bear Mountain for several years, according to President and CEO Chris Ryman of Booth Creek, who says the sale is expected to close in mid to late September, subject to various closing conditions.
Snow Summit and Bear Mountain are less than two miles from one another. Dick Kun, president of Snow Summit, says the company willnow market the properties jointly to visitors. The company plans to offer interchangeable lift tickets for the resorts' 24 lifts. The two properties combined include 430 acres of runs, a variety of freestyle parks and halfpipes, and two modern snowmaking systems.
Booth Creek, the fourth-largest ski resort operator in the country, says the sale will leave it with six resorts across the United States, including Northstar-at-Tahoe and Sierra-at-Tahoe in Calif; Waterville Valley, Cranmore Mountain Resort and Loon Mountain in N.H.; and The Summit at Snoqualmie near Seattle, Wash.
Snow Summit, which has operated for 50 years, averaged about 500,000 skier and snowboarder visits per season for the last 24 seasons. It's a day and weekend resort at an elevation of 7,000 feet, about a two-hour drive northeast of Los Angeles.
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