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Mammoth Mountain is also the owner of the June Mountain ski area in the small Mono County town of June Lake, California. On June 21, 2012, the CEO of Mammoth Mountain announced that June Mountain would be closed for the 2012–2013 season, after more than 50 years of operation. [17] June Mountain reopened for the 2013-2014 ski season. [18]
Snow Summit is a ski resort that was established in 1952 and is in the San Bernardino Mountains in Southern California. [2] It is located by Big Bear Lake along with its sister resort Bear Mountain; these two resorts which operate under the same management are collectively known as Big Bear Mountain Resorts (BBMR).
In 1983, a consortium of investors was loaned $13.5 million by the Sunrise Savings and Loan to buy the hotel, in part based on an appraisal that the hotel was worth $5 million more than it actually was. The borrowers defaulted, Sunrise sank into receivership over a series of bad loans in 1985, and efforts began to sell the property.
In 2005, McCoy announced that he was retiring after running the ski area for 68 years. Mammoth Mountain Ski Area was sold to Starwood Capital Group in a deal that valued Mammoth at $365 million, significantly more than the $135,000 he borrowed in 1953 to build the first lift. [2]
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Mammoth is a ski, snowboard, and snowmobile mountain during the winter months. Mammoth is the highest ski resort in California and is notable for the unusually large amount of snowfall it receives compared to other Eastern Sierra peaks—about 400 in (1,000 cm) annually and about 300 out of 365 days of sunshine—due to its location in a low ...
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