AG Wants More Detail On Vail's Deal To Buy Mount Sunapee Resort
New Hampshire's Attorney General's office says it has few details on a deal that could transfer ownership of Mount Sunapee Resort to Colorado-based Vail resorts.
When Vail resorts announced an agreement to buy Triple Peaks LLC, the company that owns the Sunapee Resort, Okemo Mountain in Vermont, and Crested Butte in Colorado, Vail said the land lease transfers for the properties in New Hampshire and Vermont will require permission from state regulators.
But Attorney General Gordon MacDonald says New Hampshire's right to intervene is not absolute. He says when hedge fund Och-Ziff acquired previous leaseholder, CNL lifestyle properties, last year, the state could not intervene because of the way the deal was structured. He says the state needs more oversight.
"This lease agreement needs to change so that when that asset is transferred, by means of this transfer of ownership mechanism, that the state is protected."
Governor Sununu says he learned of the Sunapee deal minutes before it was announced. He called Vail highly reputable and said that it could be a great partner for New Hampshire, but he wanted to know more.