The car park at San Moritz Condos.
Western State College student Isaac Phillips, from Gunnison. Colo. uses his winter break from school to earn money by shoveling walkways of homes in Crested Butte, Colo. on Tuesday. Over 103 inches have been reported by the Crested Butte Mountain Resort. (FR37383 AP | Nathan Bilow)
Crested Butte’s 24 hour total snow fall is 12 inches, bringing it a huge seven day total of 48 inches (4 feet!) and it’s still dumping. More snow is expected next week.
The Crested Butte crew is packing down the 36 inch natural snow base and they’ve also been able to open seven lifts and a total of 390 accessible acres. There are now 58 trails to choose from and 322 acres of groomed terrain. 62% of total terrain is open right now and the Painter Boy Lift is slated to open tomorrow.
The Silver Queen Lift opened today giving access to some of Crested Butte’s favorite runs like Windy Gap, Triangle, Lower North Star, and International from top to bottom!
And the good news keeps on coming because snow is expected today through to Monday! Current natural snow depth is 26 inches! Five lifts are up and running giving access to 225 glorious acres of which 181 have been groomed including Paradise Bowl. Even some of the advanced terrain is open for the season.
If you have never witnessed ice carving demonstration, then grab the kids and come check out some World Champion carvers show you their amazing talents! Rock on Ice returns to Crested Butte this December 19th and 20th! This 2 day event will feature a series of ice carving demonstrations and interactive sculptures. A dazzling ice sculpture garden will be created in the outdoor courtyard at the Mountaineer Square. Kids can even have their names carved into their very own block of ice prior to the Saturday night finale!
Tim and Diane Mueller, owners of Triple Peaks, LLC, announced today a long term equity partnership with CNL Lifestyle Properties, a Real Estate Investment Trust with extensive holdings in the ski resort industry. The effective result of this new arrangement will mean additional capital funds and financial stability for CBMR as it continues to become a leading destination community.
According to CMBR representatives, the new financial structure provides stable long term capital without the short term risk of refinancing every few years. It is referred to as a sale – leaseback. That is, the assets are sold but are leased back to the Muellers for 40 years. The net effect of it is that the Muellers will still be the owners of the operating company, while CNL owns the underlying resort assets excluding primary real estate interests.
“In this time of economic instability, for CNL to commit sizable dollars to our resorts is a testament to their confidence in us and our entire Team.” said Tim Mueller. “Triple Peaks’ resorts are recognized for operational excellence and success within the ski industry. In today’s environment, there are not a lot of companies able to complete transactions of this nature. This is also indicative of CNL’s financial strength and confidence in our management team and in the ski industry. They are a well capitalized, stable company and we are pleased to be associated with them.” Mueller continued.
This change in financing and ownership structure is the capstone in a series of planned strategic shifts says the CBMR team. It started over a year ago when the Muellers initiated a re-branding and business strategy for the area. The shift continued as the much of the upper management and key customer service positions within the company were changed. Next, a long term plan of mountain improvements, the expansion of lift-serviced skiing onto nearby Snodgrass Mountain and future real estate developments were laid out in the Master Vision. Now the final piece of these major shifts has come together that will provide stable and substantive capital to fund the ongoing upgrades.
The partnership will allow the Muellers to apply their renowned hands-on leadership to all Triple Peak resorts. This financial flexibility and strength is good news for the community, guests and employees.