Deal announced to merge Big Sky, Moonlight Basin

2013-08-16T01:00:00Z Deal announced to merge Big Sky, Moonlight Basin Montana Standard
August 16, 2013 1:00 am

BOZEMAN (AP) — The owners of Big Sky Resort and the Yellowstone Club in southwestern Montana are planning to buy Moonlight Basin with the aim of creating a giant resort of more than 5,700 skiable acres north of Yellowstone National Park.

The deal would combine Big Sky’s and Moonlight Basin’s operations for one ski resort on both sides of Lone Mountain with 23 chairlifts and 10 surface lifts over 4,350 vertical feet, according to the Wednesday announcement by CrossHarbor Capital Partners LLC and Boyne Resorts.

CrossHarbor, the Boston-based investment firm that owns the ultra-exclusive Yellowstone Club, and Boyne Resorts, which owns Big Sky, also recently purchased the nearby

Spanish Peaks resort community for $26.1 million.

The companies said they entered into a purchase agreement with a Lehman Brothers Holdings Inc. subsidiary to buy Moonlight Basin as “the next step in the creation of one of the largest and most compelling mountain resort experiences in North America.”

Future development of the three resorts will be coordinated for economic stability and growth, while promoting stewardship and environmental sensitivity, according to the statement from the two companies.

Terms of the agreement were not disclosed. The deal is expected to close in the next several weeks, the Bozeman Daily Chronicle reported in a story published Thursday.

CrossHarbor spokesman Greg Hitt declined to provide further details about the deal.

Lehman Brothers bought Moonlight Basin in 2012, three years after the resort filed for bankruptcy when the New York-based bank foreclosed on an outstanding $170 million loan. The resort had put up its lodge, spa, golf course and other assets as collateral against the loan.

Lehman Brothers turned over management of the resort to Alvarez & Marshal, a firm that oversees its real estate holdings, with the understanding that it would continue searching for a buyer.

Copyright 2015 Montana Standard. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

No Comments Posted.

Civil Dialogue

We provide this community forum for readers to exchange ideas and opinions on the news of the day. Passionate views, pointed criticism and critical thinking are welcome. Name-calling, crude language and personal abuse are not welcome. Moderators will monitor comments with an eye toward maintaining a high level of civility in this forum. Our comment policy explains the rules of the road for registered commenters. If you receive an error after submitting a comment, please contact us at

If your comment was removed or isn't appearing online, perhaps:

  1. You called someone an idiot, a racist, a dope, a moron, etc. Please, no name-calling or profanity (or veiled profanity -- #$%^&*).
  2. You rambled, failed to stay on topic or exhibited troll-like behavior intended to hijack the discussion at hand.
  3. YOU SHOUTED YOUR COMMENT IN ALL CAPS. This is hard to read and annoys readers.
  4. You have issues with a business. Have a bad meal? Feel you were overcharged at the store? New car is a lemon? Contact the business directly with your customer service concerns.
  5. You included an e-mail address or phone number, pretended to be someone you aren't or offered a comment that makes no sense.
  6. You accused someone of a crime or assigned guilt or punishment to someone suspected of a crime.
  7. Your comment is in really poor taste.
Add Comment
You must Login to comment.

Click here to get an account it's free and quick


Follow the Montana Standard

Montana Videos

The 4:06 – trending topics and hot headlines

Missoulian reporter Kate Haake presents the latest news you need to know about today's headlines in about t…

The 4:06 – trending topics and hot headlines

The 4:06 – trending topics and hot headlines

Missoulian reporter Martin Kidston presents the latest news you need to know about today's h…

Featured Offers & Deals

Great Butte Businesses

Vote now! Question of the Week


Do you think Gov. Steve Bullock should call a special session to revisit the defeated infrastructure bill? Go online to to vote.

View Results