WINDHAM, New York ??вЂќ The sale of Windham Mountain from Snow Time, Inc. to a group of local investors has been completed. The resort, located just 2.5 hours from New York City in the Catskill Mountains, is now owned by a group with ties to Wall Street and major league baseball.
Majority owners Randy Frankel and Steven Starker were senior partners at Spear, Leads & Kellogg and managing directors at Goldman Sachs. Frankel is also an owner of the Tampa Bay Devil Rays. Also among the ownership group are Randy MacDonald, a senior vice president at IBM; Dick Jordan, developer of the Enclave Club Condominium and Brainard Ridge; Stuart Berelson, attorney, counsel to Wormer, Keily, Galef and Jacobs and avid Windham skier; and Dan Frank, resort president for the past 23 years. The group, called Windham Mountain Partners, plans to maintain the resort’s current management team led by Frank and General Manager Tim Woods.
“To say that this is a great stocking stuffer is an understatement,” said Frank, who has been working hard to finalize the deal for the past several weeks. “We all have extensive personal experience with Windham Mountain and realize its extraordinary potential. Now our mission is to transform that potential into reality.”
Snow Time, Inc. will focus its energy on running three resorts in Pennsylvania – Liberty Mountain, Whitetail Mountain and Ski Roundtop – and has no plans to sell those properties.