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May 06, 2010

Brian Head Resort for Sale - $34.25M

Article here:

When Brian Head's primary owner, Jim Trees, 69, died suddenly of a heart attack in 2008, it was just a matter of time before the Trees family unloaded Dad's amusement. The family had not invested in the resort much since then and the last major improvement was the connecting bridge in 2007.

The long-awaited interconnect lift and ski trail system joined Navajo and Giant Steps mountains to allow skiers and snowboarders to circulate freely between the two areas. Now, it's official. CB Richard Ellis Golf & Resort Properties in Carlsbad, Calif., is listing southern Utah's only ski resort for sale. CB Richard Ellis also lists the bankrupt Tamarack resort in Idaho. They brokered the sale of Wyoming's exclusive Yellowstone Club last year.

The property includes 1,106 acres, eight chairlifts, a tubing hill, snowmaking facilities, lodges, a dozen finished real estate lots on 13 acres, 1,744 acres for the planned community of Alpine Creek, and a golf course. One hundred fifty-six acres at the base of Giant Steps has been zoned for residential and commercial development as part of a future ski resort village.

Not sure anyone would want any part of the investment at that price right now. I want to see some financials and skier visit numbers for this year.

Posted by Justin at May 6, 2010 04:12 PM