The summer is turning out to be a tumultuous time for some area ski resorts. Seven Springs and Whitetail were both in the process of receiving new ownership, but their sales have fallen through. Meanwhile, the Timberline Ski Resort has announced that it will sell half of its property, in an effort to fend off reported cash flow problems.
In late June, Booth Creek Ski Holdings, Inc. backed out of purchasing Pennsylvania’s Seven Springs Resort. The Colorado-based developer had been in negotiation to purchase Seven Springs since last year, at a cost of $87.5 million. Sale of the resort was dependent on agreement by the resort’s three owners, the Herman Dupre, Luitgarde Dupre Sujansky, and Lois Dupre Shuster families. However, the families fell into conflict, failing to reach an agreement about the sale and landing the argument in court. According to a Post-Gazette article, Booth Creek backed out of the deal after tiring of the extended court battle and lack of progress. However, a Seven Springs board member is reported as stating that Booth Creek could not afford to follow through with the purchase.
To the east of Seven Springs, Pennsylvania’s Whitetail Resort has also been making news this summer. As reported by DCSki, the sale of Whitetail to the Mercersburg General Purpose Authority fell through after the county was unable to sell the requisite number of bonds. Whitetail has now been placed on the auction block, with most of its full-time staff laid off until a new buyer is found. The upcoming ski season may be threatened if a buyer is not found soon. Summer activities such as mountain biking remain operating under normal conditions.
Meanwhile, West Virginia’s Timberline Resort is having its own problems. The resort announced earlier this week that it plans to sell half of its property - a total of 500 acres. SAM Resort News reports that the resort was placed in a bind after mounting tax bills and environmental rulings prohibiting further real estate development. A buyer has not been named.
M. Scott Smith is the founder and Editor of DCSki. Scott loves outdoor activities such as camping, hiking, kayaking, skiing, and mountain biking. He is an avid photographer and writer.
There are no reader comments on this article yet.
Join the conversation by logging in.
Don't have an account? Create one here.