CNL Lifestyle Properties

Topics of a general nature regarding snowsports, which don't easily fit into one of our other Liftlines categories. This is also the place to post Letters to the Editor.

CNL Lifestyle Properties

Postby Admin » Sun Oct 30, 2011 5:59 am

An interesting piece by Jason Blevins of the Denver Post provides rare insight into CNL's operations:
http://www.denverpost.com/business/ci_19221365
Image

Image
User avatar
Admin
Site Admin
 
Posts: 9976
Joined: Wed Sep 22, 2004 9:32 am
Location: Salt Lake City, Utah

Re: CNL Lifestyle Properties

Postby Tony Crocker » Sun Oct 30, 2011 1:42 pm

This caught my eye:
But the party comes to a close in 2015, when the CNL Life style REIT expires and the company will liquidate everything in the portfolio. By this time next fall, CNL will begin plotting the sale of its lifestyle properties.

I suppose from the area operators' perspective this may not matter much because of the long term lease contracts that would still apply to the new owner/REIT.
http://bestsnow.net
Ski Records
Season length: 21 months, Nov. 29, 2010 - July 2, 2012
Days in one year: 80 from Nov. 29, 2010 - Nov. 17, 2011
Season vertical: 1,610K in 2016-17
Season powder: 291K in 2011-12
User avatar
Tony Crocker
 
Posts: 9821
Joined: Thu Sep 23, 2004 10:37 am
Location: Avatar: Charlotte Bay, Antarctica 2011
Location: Glendale, California

Re: CNL Lifestyle Properties

Postby EMSC » Sun Oct 30, 2011 9:49 pm

Tony Crocker wrote:This caught my eye:
But the party comes to a close in 2015, when the CNL Life style REIT expires and the company will liquidate everything in the portfolio. By this time next fall, CNL will begin plotting the sale of its lifestyle properties.

I suppose from the area operators' perspective this may not matter much because of the long term lease contracts that would still apply to the new owner/REIT.


Which is the part I don't get. REIT status doesn't simply disappear on a certain year. So the 'long term' view of CNL and the leases and then they are going to give up on the properties after only a decade or so? Then the article goes on to mention a new REIT that was just set up and that mountain assets will be in that REIT as well. The way it is written up doesn't make tons of sense to me. Somewhere in there is a 'read between the lines' moment. Such as: we plan to dump the stinkers in our original REIT by no later than 2015 while shifting ("selling") the truly good ones into our new REIT. Just a guess on my part but that's what I read when look at it. The question being does Vail want to buy back Northstar or not for example. Or is that one of the 'good performing' ones that will simply be shifted around.
User avatar
EMSC
 
Posts: 2009
Joined: Wed Apr 11, 2007 6:54 pm
Location: Front Range of Colorado

CNL Lifestyle Properties

Postby lookn4powder » Sun Oct 30, 2011 10:18 pm

Interesting article.

I was taken by the statement that "no CNL Lifestyle tenant has ever gone bankrupt." CNL has a very savvy business analysis group. Snowshoe WV could really use the financial discipline this group maintains. Their ski operation always makes money, but hey keep going bankrupt on side operations like a golf course, riding stables, over leveraged property, etc. (yes, they are bankrupt again, I hear.)
When encountering a skier, turn. Same goes for a tree.
-2nd Law of Skiing
User avatar
lookn4powder
 
Posts: 186
Joined: Fri Mar 18, 2005 9:10 pm
Location: Rockville, MD; Avatar: Late Spring descent inside the cirque on Mt. Bachelor.

Re: CNL Lifestyle Properties

Postby soulskier » Mon Oct 31, 2011 6:50 pm

Thanks for sharing, it's very interesting to learn more about CNL.
http://www.MountainRidersAlliance.com
User avatar
soulskier
 
Posts: 409
Joined: Thu Oct 08, 2009 10:48 pm
Location: Planet Earth


Return to General Discussion

Who is online

Users browsing this forum: No registered users and 2 guests


All content herein copyright © 1999-2017 First Tracks!! Online Media

Forums Terms & Conditions of Use