Skiing & Winter Sports

The $5 million deal is subject to certain customary adjustments, the company said in a statement, and includes a two-year right of first refusal of the buyer for certain developmental land owned by Mount Snow Ltd. (but not used in its ski resort operations) known as the Howe Farm.

The sale also allows Mount Snow Ltd. to continue to draw water from sources at Haystack in amounts which approximate Mount Snow’s historical use, and continued use of Haystack by the local community.

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Closure on the deal is subject to buyer completion of a 90-day due diligence period as well as satisfaction of customary contingencies, the company stated. The money is expected to be used for additional liquidity, to fund capital expenditures and reduce debt.

Operated separately from the main area of Mount Snow Resort, Haystack has traditionally operated only on weekends and peak guest traffic periods. Mount Snow Ltd. will continue to own and operate Mount Snow Resort.