As of November 2, 2016, CNL Lifestyle Properties has agreed to sell its portfolio of real estate backed lifestyle properties to EPR Properties; a Kansas City based Real Estate Investment Trust. Simultaneously with the closing of the sale to EPR Properties, EPR Properties will sell most of the ski related assets in the portfolio to an asset management group, New York City based Och-Ziff. Those ski related assets include Sugarloaf, Sunday River, Loon, Sunapee, Okemo, Boyne, Boyne Highlands, Crested Butte, Brighton (Utah), Summit at Snoqualmie, Stevens Pass, Mountain High and Cypress. Also included is the Gatlinburg Skyride. The question I was asked by journalists and resort operators as a result of the announcement is, “what does this mean?”