Brian Head resort is for sale, you can own it for only $34 million

Posted By: Selma Al-Faqih on April 2, 2010 12:32 pm

Primary owner Jim Tree passed away of a heart attack at 69 in 2008 leaving the resort to his family. He purchased the property in 1992 and made many improvements. The Tree heirs have no interest in keeping up the resort themselves, and so it has become the only resort for sale in Southern Utah. Interested? Here are some numbers for the property from the listing company, CB Richard Ellis Golf & Resort Properties:

-Average revenue from ski operations the past three years — $6.8 million
-Average earnings before interest, taxes, depreciation and amortization (EBITDA) in that period — $1.7 million
-Projected EBITDA this year — $2.2 million
-Average annual skier days — 141,000
-Snowfall this season of 280 inches, and an 80-inch base heading into April.
The listing also sites Brian Head Resort’s 1,744 acres include 156 acres zoned for residential and commercial development, plans for 1,350 residential units, another dozen ski-in/ski-out residential lots and 500 acres set aside for golf and skiing.

In today’s economy it’s a fairly high price, but the resort’s earnings are up 10% while other Utah resorts have reported being down up to 35%.

 

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