What changed in this filing

/stocks — the workspaceLOADING

Item 2. Properties

2021-09-23 compared with 2020-09-24 · 85 added, 171 removed, 12 unchanged (96% of the section changed)

The following table sets forth the principal properties that we own or lease for use in our operations:

Afton Alps, MN

Ski resort operations, including ski lifts, ski trails, clubhouse, buildings, commercial space and other improvements

Alpine Valley Resort, OH

Ski resort operations, including ski lifts, ski trails, golf course, clubhouse, buildings, commercial space and other improvements

Arrowhead Mountain, CO

Ski resort operations, including ski lifts, ski trails, buildings and other improvements, property management and commercial space

Attitash Mountain, NH (279 acres)

Ski trails, ski lifts, buildings and other improvements

BC Housing RiverEdge, CO

Employee housing facilities

Bachelor Gulch Village, CO

Ski resort operations, including ski lifts, ski trails, buildings and other improvements, property management and commercial space

Beaver Creek Resort, CO

Ski resort operations, including ski lifts, ski trails, buildings and other improvements, property management, commercial space and real estate held for sale or development

Location Ownership Use

Afton Alps, MN Owned Ski resort operations, including ski lifts, ski trails, clubhouse, buildings, commercial space and other improvements

Alpine Valley Resort, OH Owned Ski resort operations, including ski lifts, ski trails, golf course, clubhouse, buildings, commercial space and other improvements

Arrowhead Mountain, CO Owned Ski resort operations, including ski lifts, ski trails, buildings and other improvements, property management and commercial space

Attitash Mountain, NH (279 acres) SUP Ski trails, ski lifts, buildings and other improvements

BC Housing RiverEdge, CO 26% Owned Employee housing facilities

Location Ownership Use

Bachelor Gulch Village, CO Owned Ski resort operations, including ski lifts, ski trails, buildings and other improvements, property management and commercial space

Beaver Creek Resort, CO Owned Ski resort operations, including ski lifts, ski trails, buildings and other improvements, property management, commercial space and real estate held for sale or development

Beaver Creek Mountain, CO (3,849

Ski trails, ski lifts, buildings and other improvements

Beaver Creek Mountain Resort, CO

Golf course, clubhouse, commercial space and residential condominium units

Big Boulder Mountain, PA

Ski trails, ski lifts, buildings and other improvements

Boston Mills/Brandywine, OH

Ski trails, ski lifts, buildings and other improvements

Breckenridge Ski Resort, CO

Ski resort operations, including ski lifts, ski trails, buildings and other improvements, property management, commercial space and real estate held for sale or development

acres) SUP Ski trails, ski lifts, buildings and other improvements

Beaver Creek Mountain Resort, CO Owned Golf course, clubhouse, commercial space and residential condominium units

Big Boulder Mountain, PA Owned Ski trails, ski lifts, buildings and other improvements

Boston Mills/Brandywine, OH Owned Ski trails, ski lifts, buildings and other improvements

Breckenridge Ski Resort, CO Owned Ski resort operations, including ski lifts, ski trails, buildings and other improvements, property management, commercial space and real estate held for sale or development

Breckenridge Mountain, CO (5,702

Ski trails, ski lifts, buildings and other improvements

Breckenridge Terrace, CO

Employee housing facilities

Broomfield, CO

Corporate offices

Colter Bay Village, WY

Concessionaire contract

Lodging and dining facilities

Crested Butte Mountain Resort, CO

Buildings, other improvements and land used for operation of Crested Butte Mountain Resort

Crested Butte Mountain Resort, CO (4,350 acres)

Ski trails, ski lifts, buildings and other improvements

Crotched Mountain, NH

Ski trails, ski lifts, buildings and other improvements

Double Tree by Hilton Breckenridge, CO

Lodging, dining and conference facilities

Eagle-Vail, CO

Warehouse facility

Administrative offices

Falls Creek Alpine Resort, Victoria, Australia (1,112 acres)

Ski resort operations, including ski lifts, ski trails, buildings and other improvements

Headwaters Lodge & Cabins at Flagg Ranch, WY

Concessionaire contract

Lodging and dining facilities

Heavenly Mountain Resort, CA & NV

Ski resort operations, including ski lifts, ski trails, buildings and other improvements and commercial space

acres) SUP Ski trails, ski lifts, buildings and other improvements

Breckenridge Terrace, CO 50% Owned Employee housing facilities

Broomfield, CO Leased Corporate offices

Colter Bay Village, WY Concessionaire contract Lodging and dining facilities

Crested Butte Mountain Resort, CO Owned Buildings, other improvements and land used for operation of Crested Butte Mountain Resort

Crested Butte Mountain Resort, CO (4,350 acres) SUP Ski trails, ski lifts, buildings and other improvements

Crotched Mountain, NH Owned Ski trails, ski lifts, buildings and other improvements

Double Tree by Hilton Breckenridge, CO Owned Lodging, dining and conference facilities

Eagle-Vail, CO Owned Warehouse facility

Edwards, CO Leased Administrative offices

Falls Creek Alpine Resort, Victoria, Australia (1,112 acres) Leased Ski resort operations, including ski lifts, ski trails, buildings and other improvements

Headwaters Lodge & Cabins at Flagg Ranch, WY Concessionaire contract Lodging and dining facilities

Heavenly Mountain Resort, CA & NV Owned Ski resort operations, including ski lifts, ski trails, buildings and other improvements and commercial space

Heavenly Mountain, CA & NV

(7,050 acres)

Ski trails, ski lifts, buildings and other improvements

Hidden Valley Resort, MO

Ski trails, ski lifts, buildings and other improvements

Hotham Alpine Resort, Victoria, Australia (791 acres)

Ski resort operations, including ski lifts, ski trails, buildings and other improvements

Hotham Airport, Victoria, Australia

Regional airport

Hunter Mountain, NY

Ski resort operations, including ski lifts, ski trails, golf course, clubhouse, buildings, commercial space and other improvements.

Jack Frost Ski Resort, PA

Ski trails, ski lifts, buildings and other improvements

(7,050 acres) SUP Ski trails, ski lifts, buildings and other improvements

Hidden Valley Resort, MO Owned Ski trails, ski lifts, buildings and other improvements

Hotham Alpine Resort, Victoria, Australia (791 acres) Leased Ski resort operations, including ski lifts, ski trails, buildings and other improvements

Hotham Airport, Victoria, Australia Owned Regional airport

Hunter Mountain, NY Owned Ski resort operations, including ski lifts, ski trails, golf course, clubhouse, buildings, commercial space and other improvements.

Jack Frost Ski Resort, PA Owned Ski trails, ski lifts, buildings and other improvements

Jackson Hole Golf & Tennis Club,

Golf course, clubhouse, tennis and dining facilities

Jackson Lake Lodge, WY

Concessionaire contract

Lodging, dining and conference facilities

Jenny Lake Lodge, WY

Concessionaire contract

Lodging and dining facilities

Keystone Conference Center, CO

Conference facility

Keystone Lodge, CO

Lodging, spa, dining and conference facilities

Keystone Resort, CO

Ski resort operations, including ski lifts, ski trails, buildings and other improvements, commercial space, property management, dining and real estate held for sale or development

Keystone Mountain, CO (8,376 acres)

Ski trails, ski lifts, buildings and other improvements

Keystone Ranch, CO

Golf course, clubhouse and dining facilities

Kirkwood Mountain Resort, CA

Ski resort operations, including ski lifts, ski trails, buildings and other improvements, property management and commercial space

Kirkwood Mountain, CA (2,330 acres)

Ski trails, ski lifts, buildings and other improvements

Liberty Mountain Resort, PA

Ski resort operations, including ski lifts, ski trails, golf course, clubhouse, buildings, and other improvements

Mad River Mountain, OH

Ski trails, ski lifts, buildings and other improvements

Mount Snow, VT (894 acres)

Ski resort operations, including ski lifts, ski trails, golf course, clubhouse, buildings, commercial space and other improvements.

Mount Sunapee Resort, NH (850 acres)

Ski resort operations, including ski lifts, ski trails, buildings and other improvements and commercial space

Ski resort operations, including ski lifts, ski trails, buildings, commercial space and other improvements

Mansfield, VT (approximately 1,400 acres)

Ski trails, ski lifts, buildings and other improvements used for operation of Stowe Mountain Resort

WY Owned Golf course, clubhouse, tennis and dining facilities

Jackson Lake Lodge, WY Concessionaire contract Lodging, dining and conference facilities

Jenny Lake Lodge, WY Concessionaire contract Lodging and dining facilities

Keystone Conference Center, CO Owned Conference facility

Keystone Lodge, CO Owned Lodging, spa, dining and conference facilities

Location Ownership Use

Keystone Resort, CO Owned Ski resort operations, including ski lifts, ski trails, buildings and other improvements, commercial space, property management, dining and real estate held for sale or development

Keystone Mountain, CO (8,376 acres) SUP Ski trails, ski lifts, buildings and other improvements

Keystone Ranch, CO Owned Golf course, clubhouse and dining facilities

Kirkwood Mountain Resort, CA Owned Ski resort operations, including ski lifts, ski trails, buildings and other improvements, property management and commercial space

Kirkwood Mountain, CA (2,330 acres) SUP Ski trails, ski lifts, buildings and other improvements

Liberty Mountain Resort, PA Owned Ski resort operations, including ski lifts, ski trails, golf course, clubhouse, buildings, and other improvements

Mad River Mountain, OH Leased Ski trails, ski lifts, buildings and other improvements

Mount Snow, VT (894 acres) SUP Ski resort operations, including ski lifts, ski trails, golf course, clubhouse, buildings, commercial space and other improvements.

Mount Sunapee Resort, NH (850 acres) Leased Ski resort operations, including ski lifts, ski trails, buildings and other improvements and commercial space

Brighton, MI Owned Ski resort operations, including ski lifts, ski trails, buildings, commercial space and other improvements

Mansfield, VT (approximately 1,400 acres) Leased Ski trails, ski lifts, buildings and other improvements used for operation of Stowe Mountain Resort

Northstar California Resort, CA

(7,200 acres)

Ski trails, ski lifts, golf course, commercial space, dining facilities, buildings and other improvements

Northstar Village, CA

Commercial space, ski resort operations, dining facilities, buildings, property management and other improvements

Okemo Mountain Resort, VT

Ski resort operations, including ski lifts, ski trails, buildings and other improvements, property management and commercial space

Okemo Mountain, VT (1,223 acres)

Ski resort operations, including ski lifts, ski trails, dining facilities, buildings and other improvements

Okemo Valley Golf Club, VT

Golf course, dining facilities and commercial space

Paoli Peaks, IN

Ski trails, ski lifts, buildings and other improvements

(7,200 acres) Leased Ski trails, ski lifts, golf course, commercial space, dining facilities, buildings and other improvements

Northstar Village, CA Leased Commercial space, ski resort operations, dining facilities, buildings, property management and other improvements

Okemo Mountain Resort, VT Owned Ski resort operations, including ski lifts, ski trails, buildings and other improvements, property management and commercial space

Okemo Mountain, VT (1,223 acres) Leased Ski resort operations, including ski lifts, ski trails, dining facilities, buildings and other improvements

Paoli Peaks, IN Owned/Leased Ski trails, ski lifts, buildings and other improvements

Park City Mountain, UT

(8,900 acres)

Ski resort operations including ski lifts, ski trails, buildings, commercial space, dining facilities, property management, conference facilities and other improvements (including areas previously referred to as Canyons Resort, UT)

(8,900 acres) Leased Ski resort operations including ski lifts, ski trails, buildings, commercial space, dining facilities, property management, conference facilities and other improvements (including areas previously referred to as Canyons Resort, UT)

Park City Mountain, UT

Ski trails, ski lifts, dining facilities, commercial space, buildings, real estate held for sale or development and other improvements

(220 acres) Owned Ski trails, ski lifts, dining facilities, commercial space, buildings, real estate held for sale or development and other improvements

Perisher Ski Resort, NSW, Australia

(3,335 acres)

Owned/Leased/Licensed

(3,335 acres) Owned/Leased/Licensed

Ski trails, ski lifts, dining facilities, commercial space, railway, buildings, lodging, conference facilities and other improvements

Red Cliffs Lodge, CA

Dining facilities, ski resort operations, commercial space, administrative offices

Red Sky Ranch, CO

Golf courses, clubhouses, dining facilities and real estate held for sale or development

River Course at Keystone, CO

Golf course and clubhouse

Roundtop Mountain Resort, PA

Ski resort operations, including ski lifts, ski trails, buildings, commercial space and other improvements

Seasons at Avon, CO

Leased/50% Owned

Administrative offices and commercial space

Snow Creek, MO

Ski trails, ski lifts, buildings and other improvements

Red Cliffs Lodge, CA Leased Dining facilities, ski resort operations, commercial space, administrative offices

Red Sky Ranch, CO Owned Golf courses, clubhouses, dining facilities and real estate held for sale or development

River Course at Keystone, CO Owned Golf course and clubhouse

Roundtop Mountain Resort, PA Owned Ski resort operations, including ski lifts, ski trails, buildings, commercial space and other improvements

Seasons at Avon, CO Leased/50% Owned Administrative offices and commercial space

Snow Creek, MO Owned Ski trails, ski lifts, buildings and other improvements

SSI Venture, LLC (“VRR”) Properties;

CO, CA, NV, UT, MN & BC, Canada

Approximately 265 rental and retail stores (of which approximately 120 stores are currently held under lease) for recreational products, and 6 leased warehouses

Ski Tip Lodge, CO

Lodging and dining facilities

Stevens Pass, WA

Employee housing and guest parking facilities

Stevens Pass Mountain, WA (2,443 acres)

Ski trails, ski lifts, buildings and other improvements

Stevens Pass Ski Resort, WA

Ski resort operations, including ski lifts, ski trails, buildings and other improvements and commercial space

Stowe Mountain Resort, VT

Ski resort operations, including ski lifts, ski trails, buildings and other improvements and commercial space

The Arrabelle at Vail Square, CO

Lodging, spa, dining and conference facilities

The Lodge at Vail, CO

Lodging, spa, dining and conference facilities

The Osprey at Beaver Creek, CO

Lodging, dining and conference facilities

The Tarnes at Beaver Creek, CO

Employee housing facilities

Tenderfoot Housing, CO

Employee housing facilities

The Pines Lodge at Beaver Creek, CO

Lodging, dining and conference facilities

Vail Mountain, CO

Ski resort operations, including ski lifts, ski trails, buildings and other improvements, property management, commercial space and real estate held for sale or development

Vail Mountain, CO (12,353 acres)

Ski trails, ski lifts, buildings and other improvements

Whistler Blackcomb Resort, BC, Canada

Ski resort operations, including ski lifts, ski trails, buildings and other improvements, property management, commercial space and real estate held for sale or development

Whistler Mountain and Blackcomb Mountain, BC, Canada

Ski resort operations, including ski lifts, ski trails, buildings and other improvements

Whistler Blackcomb Resort, BC, Canada

Employee housing facilities

Whitetail Resort, PA

Ski resort operations, including ski lifts, ski trails, golf course, buildings, commercial space and other improvements

Wildcat Mountain, NH

Ski trails, ski lifts, buildings and other improvements

Wilmot Mountain, WI

Ski trails, ski lifts, buildings and other improvements

CO, CA, NV, UT, MN & BC, Canada Owned/Leased Approximately 265 rental and retail stores (of which approximately 120 stores are currently held under lease) for recreational products, and 5 leased warehouses

Ski Tip Lodge, CO Owned Lodging and dining facilities

Stevens Pass, WA Owned Employee housing and guest parking facilities

Location Ownership Use

Stevens Pass Mountain, WA (2,443 acres) SUP Ski trails, ski lifts, buildings and other improvements

Stevens Pass Ski Resort, WA Owned Ski resort operations, including ski lifts, ski trails, buildings and other improvements and commercial space

Stowe Mountain Resort, VT Owned Ski resort operations, including ski lifts, ski trails, buildings and other improvements and commercial space

The Arrabelle at Vail Square, CO Owned Lodging, spa, dining and conference facilities

The Lodge at Vail, CO Owned Lodging, spa, dining and conference facilities

The Osprey at Beaver Creek, CO Owned Lodging, dining and conference facilities

The Tarnes at Beaver Creek, CO 31% Owned Employee housing facilities

Tenderfoot Housing, CO 50% Owned Employee housing facilities

The Pines Lodge at Beaver Creek, CO Owned Lodging, dining and conference facilities

Vail Mountain, CO Owned Ski resort operations, including ski lifts, ski trails, buildings and other improvements, property management, commercial space and real estate held for sale or development

Vail Mountain, CO (12,353 acres) SUP Ski trails, ski lifts, buildings and other improvements

Whistler Blackcomb Resort, BC, Canada 75% Owned Ski resort operations, including ski lifts, ski trails, buildings and other improvements, property management, commercial space and real estate held for sale or development

Whistler Mountain and Blackcomb Mountain, BC, Canada MDA Ski resort operations, including ski lifts, ski trails, buildings and other improvements

Whistler Blackcomb Resort, BC, Canada Leased Employee housing facilities

Whitetail Resort, PA Owned Ski resort operations, including ski lifts, ski trails, golf course, buildings, commercial space and other improvements

Wildcat Mountain, NH SUP/Owned Ski trails, ski lifts, buildings and other improvements

Wilmot Mountain, WI Owned Ski trails, ski lifts, buildings and other improvements

Many of our properties are used across all segments in complementary and interdependent ways.

(1) The operations of Northstar are conducted on land and with operating assets owned by affiliates of EPR Properties under operating leases which were assumed by us.

The leases provide for the payment of a minimum annual base rent with periodic increases in base rent over the lease term.

In addition, the leases provide for the payment of percentage rent based on a percentage of gross revenues generated at the property over certain thresholds.

The initial term of the leases expires in fiscal 2027, and is subject to three 10-year renewal options.

(2) The operations of portions of Park City are conducted pursuant to a long-term lease on land and with certain operating assets owned by TCFC LeaseCo, LLC and TCFC PropCo, LLC.

The lease provides for the payment of a minimum annual base rent with periodic increases in base rent over the lease term and participating contingent payments of a percentage of the amount by which EBITDA for resort operations exceeds certain thresholds, also subject to periodic increases over the lease term.

The initial term of the lease expires in fiscal 2063 and is subject to six 50-year renewal options.

Additionally, in connection with the lease, we entered into certain ancillary agreements with third parties, including leases and easements, allowing for various resort operations.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 2. Properties