Saddleback Mountain Hotel Development JV Opportunity
Hospitality
Marketing description
CBRE Hotels, as the exclusive advisor, is pleased to present, the co-investment opportunity with Arctaris Impact Fund to develop a ski-in ski-out hotel/resort on fee-simple land at the base village of Saddleback Mountain (“Saddleback”) in Rangeley, Maine, one of the largest ski resorts in Maine (a year-round destination and hosts nearly 100,000 skiers annually). While Arctaris believes the primary opportunity is in transient lodging product, there is openness to a range of accommodation types. Possible configurations could include suites, fractional units and/or other for sale products in the lodging phase of development.
Sign a CBRE CA: https://www.cbredealflow.com/buyer/agreement?pv=jDVs-GqVt8Kq_JBkzz2nxt_8pdN7-eviABnqaW-hZ24DPjPQLEXauxwKa53WWRfk
Saddleback Mountain is renowned for its natural beauty, challenging terrain, and welcoming community. Named the “Best Ski Mountain” in Maine by Down East Magazine readers for three consecutive years (2022-2024), ranked No. 1 in Overall Satisfaction by New England Ski Journal, No. 2 in the East and No. 4 in North America by SKI Magazine, Saddleback is also a top Indy Pass destination in the East.
Originally opened in 1960, Saddleback boasts one of the highest base lodges in New England at 2,460 feet, offering pristine snow conditions and breathtaking views not only of Rangeley Lake, but a series of lakes in Western Maine. With over 600 skiable acres, including 88 acres of glades, 55 kilometers of groomed cross-country skiing trails, and lift serviced mountain biking, Saddleback provides an expansive playground to all levels of outdoor enthusiasts.
Saddleback’s resurgence is fueled by the commitment of Arctaris Impact Investors, a Boston-based impact investment firm dedicated to revitalizing underserved communities. Arctaris’ investment enabled Saddleback to reopen in 2020 after a five-year closure, enhance its infrastructure, and solidify its position as an economic driver in the Rangeley region.
Investment highlights
Sign a CBRE CA: https://www.cbredealflow.com/buyer/agreement?pv=jDVs-GqVt8Kq_JBkzz2nxt_8pdN7-eviABnqaW-hZ24DPjPQLEXauxwKa53WWRfk
Significant Development Potential
The offering represents the potential to develop a hotel/resort on fee-simple land at the base of Saddleback Mountain, currently located in a Planned Development Subdistrict (D-PD), which allows for large-scale, well-planned developments including a hotel. Significant potential exists for additional residential development, as well as a hotel.
Nationally Ranked Ski Resort
Saddleback has received high rankings across multiple categories in SKI Magazine’s 2025 “Top 10 in the East” guides, highlighting its diverse terrain, fast lifts, snow quality, challenging runs, and expert grooming:
No. 2 — The 10 Eastern Resorts with Most Variety of Terrain
No. 2 — In The East
No. 3 — Top 10 Resorts With Fastest Lift Networks in the East
No. 3 — The Top 10 Snowiest Resorts in the East
No. 4 — The Top 10 Most Challenging Resorts in the East
No. 4 — In North America
No. 6 — Top 10 Resorts in the East with the Best Grooming
Expansive Ski Resort in Northeast
Saddleback Mountain is one of three major ski resorts in Maine – along with Sunday River and Sugarloaf. However, compared to those two resorts, Saddleback has the strongest average snowfall and one of the highest elevations. Saddleback Mountain holdings include the alpine ski mountain, expansive Nordic skiing/hiking trails, and lake frontage on Saddleback Lake. These activities combined provide year-round demand for the future hotel/resort.
Ski-In/Ski-Out Lodging on Major New England Ski Resort
Saddleback Mountain offers a variety of ski-in/ski-out lodging options including private condos, Parmacheenee A-Frames and the Magalloway Loop Homes.
Dated Nearby Hotel Supply
While Saddleback Mountain Ski Resort is a premier skiing destination, the closest hospitality options in Rangeley tend to be more lake-oriented, experiencing a substantial portion of their visitation during the summer months and are dated. As a result, there is a significant lack of hotel supply which presents the opportunity for the future hotel/resort at the base of Saddleback Mountain to capture year-round demand, especially since the mountain owns substantial frontage on the lake.
Financing
Arctaris has been successful in raising advantageous debt financing for the overall project and may have the ability to assist in raising development debt financing for the hotel development.
Deal Structure
As sponsor, Arctaris prefers a joint venture structure with a lodging development partner which both maximizes the feasibility of the hotel development and optimally aligns the mountain operation and the lodging operation. Further, given the large scope of development on the mountain and lakefront in addition to the hotel, Arctaris would welcome expanding the partnership with its hotel development partner to both additional residential and/or additional lodging products.
Opportunity to Capitalize on All-Season Demand
Saddleback Mountain competes directly with peer resorts in elevation and snowfall. While other resorts in the area have more developed hospitality and residential offerings, Saddleback Mountain has the potential to support a similar amount of infrastructure and capitalize on its proximity to both mountain and lake to create an all-season resort experience. Saddleback Mountain already has a respected reputation; with investment in its residential and hospitality program, it can cultivate a unique, resort experience.
Year-Round Activities
The Rangeley Lakes Region, the Jewel of the Maine Mountains, offers limitless year-round outdoor activities. In the Summer, Autumn and Spring, visitors have a wide variety of outdoor activities (hikes, birding, ATV trails, boating, fly fishing, golf, etc.), events and festivals and local cuisine to choose from. There is an existing community in Rangeley that is vibrant in the summer with a number of restaurants and access to a wide range of additional recreational opportunities, including access to some of the largest lakes in the northeast and world class fly fishing.
In the Winter, approximately 90,000 skiers (2024-2025 season) visit Saddleback Mountain Ski Resort (Maine’s 3rd largest ski and snowboard area). With over 100 miles of extensive trails in Rangeley, it’s a dream destination for Alpine skiing, snowboarding, Nordic skiing, snowmobiling, fat tire biking, and snowshoeing enthusiasts.
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