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Business

Deep Creek resort owners consider sale of ski property

Selling a ski resort near Deep Creek Lake is one of several options that its owners are considering to resolve financial difficulties related to another business.

Karen Myers, one of the three partners of Wisp Resort in Garrett County, said in a brief interview Thursday that the partners were having trouble negotiating the repayment of a $28.5 million loan with BB&T Corp. The loan was tied to the construction of an 18-hole golf course and a community near Deep Creek Lake, which is experiencing lackluster sales of home sites, Myers said.

The Associated Press first reported the potential sale of the resort.

Other options under consideration by the partners include refinancing and bringing on additional investors, Myers said.

While the real estate business is struggling, Myers said the resort itself is a "very healthy, vibrant, profitable business."

The resort is scheduled to open Nov. 25 for ski season.

Hanah.cho@baltsun.com

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