RANGELEY – Saddleback ownership is looking at multiple scenarios to sell the ski resort after they “exhausted all reasonable financing options” to finance a new ski lift, according to a statement posted on the company’s Facebook last night.
The ski mountain, the third largest in the state and an employer for up to 300 people during peak winter season, previously announced that it would be unable to open for ski operations this year unless it secured $3 million in financing to purchase a new four-person chairlift. That lift would replace a 51-year-old double chair that provides access to the top of Saddleback Mountain.
The Berry family purchased the ski area in 2004, leading to several years of rapid growth and expansion. In 2004, Saddleback employed 66 people and drew about 15,000 skiers annually. In 2012 the family reported Saddleback employed more than 225 people during peak winter season, and by then they had added $40 million in infrastructure improvements, drawing as many as 100,000 visitors annually.
In 2012, the family put 400 acres of their 8,000-acre parcel up for sale for $12 million through Malone Commercial Brokers, a Portland firm, including Saddleback’s 66 trails and glades, four chairlifts, the lodge and condominiums.
According to the Facebook post, mountain ownership is working through a number of scenarios to sell the resort. The post cited legal restrictions and the need for confidentiality as commercial transactions moved forward in not being more specific.
One scenario would involve a buyer that would purchase the resort and install a quad lift this season, while another buyer would close the mountain for a year and install the lift next summer. Two other potential buyers would operate the mountain without any changes this year, then make improvements next summer. Saddleback has also discussed a leasing option.
“The Berry Family is evaluating all options with the goal of a sustainable future for Saddleback,” the statement reads.
It concluded by thanking customers for the “outpouring of support” in a “tough time for all of us.”
“We understand the frustration about the unpredictability of the future and not being able to make winter plans,” the statement said. “We assure you we are doing everything in our power to resolve these questions as soon as possible.”
The best of luck to Saddleback and to the Berry family! Both are true gems in Franklin County!!!
Thank you Bill and Irene for your continued commitment to a high-quality experience while always keeping the best interests of the community in mind. Let’s all hope for the best outcome for you and the area!