Ski Resort Holdings, LLC|
New England Ski Presence: 2017-
Ski Resort Holdings, LLC, affiliated Och-Ziff Capital Management, owns the assets of numerous ski resorts across North America.
On February 16, 1994, Daniel Och established Och-Ziff Capital Management, reportedly with $100 million from the Ziff brothers, heirs to the Ziff Davis empire. The Ziff Davis magazine empire reportedly dates back to 1927, when William Ziff Sr. established a publishing company. The company grew over time, publishing many well known magazines, including Skiing Magazine. A New Jersey native, Daniel Och began a tenure at Goldman Sachs after graduating from the Wharton School at the University of Pennsylvania.
Och-Ziff Real Estate was established in July of 2003.
November 2007 marked Och-Ziff's IPO on the New York Stock Exchange, using ticker symbol OZM.
In 2016, Och-Ziff Capital Management agreed to a $412 million deferred-prosecution agreement with federal prosecutors to resolve charges under the Foreign Corrupt Practices Act. The SEC claimed Och-Ziff Capital Management paid bribes to Chad, Guinea, Niger, and the Democratic Republic of the Congo. Och described it as a "deeply disappointing episode."
On November 2, 2016, CNL Lifestyle Properties announced it would sell its remaining attractions and 14 ski areas to Ski Resort Holdings LLC and EPR Properties for an estimated $830 million. The deal closed on April 6, 2017, with EPR Properties acquiring the attractions and Sierra-at-Tahoe, while also providing $251 million in financing for Ski Resort Holdings LLC's purchase of the 13 remaining ski areas. The areas remained under the same management pursuant to their long term operating agreements.
In May 2018, Boyne USA Resorts acquired the assets to its Brighton, Cypress Mountain, Gatlinburg Sky Lift, Loon, Sugarloaf, The Summit at Snoqualmie, and Sunday River areas.
In June 2018, Vail Resorts announced it would be purchasing Crested Butte, Okemo, and Mt. Sunapee from Triple Peaks, which would also acquire the area assets for Vail as part of the transaction. The only remaining Ski Resort Holdings asset in New England following the deal would be Jiminy Peak.
Ski Resort Holdings, LLC Resources on NewEnglandSkiHistory.com:
Ski Resort Holdings, LLC External Links:
Oz Management - official site
Last updated: June 5, 2018