The amount of the sale is not being released by the parties involved and was not otherwise immediately available. The acquisition was financed in part with a loan from NCW Community Bank of Wenatchee that is guaranteed by the Spokane District Office of the US Small Business Administration.
Scrivanich says he is impressed by the quality of the resort experience at Mission Ridge and the fiscal performance of the resort over the past five seasons. He plans to reinvest the earnings from Mission Ridge into various projects that will improve on-mountain facilities and guest amenities.
"I immediately saw Mission Ridge as a jewel of a resort; It's a very special place with an unquestionably promising future," says Scrivanich. "The people who live and work in the Wenatchee area have greatly supported Mission Ridge. We'll do our best to continue to earn their trust."
Harbor Resorts still owns and operates ski properties in the Pacific Northwest, including Stevens Pass in Skykomish, WA, and Schweitzer Mountain Resort located in Sandpoint, Idaho. The company says it will honor all its cross-resort marketing programs created for the 2003-2004 ski season.
Harbor Resorts VP of operations Ron Nova says he spoke with several potential buyers before finalizing the Mission Ridge sale recently with Scrivanich. The resort was sold because "it didn't meet specific criteria outlined in the company's business plan," he says.
Harbor Resorts is a subsidiary of Harbor Properties, a Seattle-based full-service real estate firm that owns, manages and develops a broad spectrum of real estate, including office, retail, multifamily residential and resort properties.
Mission Ridge Ski Area, located about 12 miles from Wenatchee, is open each December through April. Operation of the winter ski area is a partnership between the Wenatchee National Forest, the Washington Department of Fish and Wildlife and the Mission Ridge Ski Area. Despite the sale, Mission Ridge's management and operations staff will remain intact.
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