January 4, 2011

Sugarloaf: A brief history

1951: Amos Winter, a Kingfield general store manager, and other ski enthusiasts hire a trail designer and form the Sugarloaf Ski Club. That winter, the mountain hosts its first skiers.

1953: The first mechanical means of getting skiers up the mountain, a rope tow, is installed.

1955: The for-profit Sugarloaf Mountain Corp. is formed. It expands ski lift capacity and cuts additional trails.

1964: Sugarloaf starts to draw skiers from throughout New England with a 9,000-foot-long gondola to the summit.

1972: The Village Center, a complex of shops and restaurants, is built. Sugarloaf also branches out into real estate, building some of the first condominiums in Maine.

1974: After a winter with little snow, Sugarloaf installs the world’s highest snowmaking system.

1986: After a second year of poor winter business, Sugarloaf Mountain Corp. files for Chapter 11 bankruptcy.

1987: The company’s reorganization plan is approved by April, and by June the company emerges from bankruptcy. The plan involves $8 million in investment from its new board of directors, new financing arrangements and the sale of several real estate projects.

1994: SKI Ltd., the publicly held company that owns Killington and other New England resorts, purchases a 51 percent interest in Sugarloaf. It immediately announces a $4.5 million expansion, including a 7,000-foot, high-speed detachable quad chairlift.

1996: Les Otten, owner of the Sunday River Ski Resort in Newry, announces that his LBO Enterprises will merge with SKI in a $107 million deal. The new American Skiing Co. becomes the largest ski resort operator in North America and gives Otten a controlling interest in Sugarloaf.

2007: American Skiing sells Sugarloaf and Sunday River to Boyne USA for $77 million. Boyne, a Michigan-based owner and operator of U.S. ski resorts, in turn sells the assets to Florida-based CNL Income Properties, another large resort owner, but continues to operate Sugarloaf and Sunday River.

Were you interviewed for this story? If so, please fill out our accuracy form

Send question/comment to the editors




Further Discussion

Here at PressHerald.com we value our readers and are committed to growing our community by encouraging you to add to the discussion. To ensure conscientious dialogue we have implemented a strict no-bullying policy. To participate, you must follow our Terms of Use.

Questions about the article? Add them below and we’ll try to answer them or do a follow-up post as soon as we can. Technical problems? Email them to us with an exact description of the problem. Make sure to include:
  • Type of computer or mobile device your are using
  • Exact operating system and browser you are viewing the site on (TIP: You can easily determine your operating system here.)