The Reserve at Moonlight Basin

Moonlight Basin is an 8,000-acre residential and recreational community on the back (north) side of Big Sky's Lone Peak, developed and managed by Lone Mountain Land Company -- the same CrossHarbor Capital Partners-affiliated operator behind Spanish Peaks -- following CrossHarbor and Boyne Resorts' joint 2013 acquisition of Moonlight Basin out of a 2012 Lehman Brothers-held bankruptcy for roughly $32 million. As with Spanish Peaks, the ski terrain was subsequently absorbed into Big Sky Resort under Boyne, while Moonlight Basin's private residential and club operations continued independently under Lone Mountain Land Company.

The golf centerpiece is The Reserve at Moonlight Basin, an 18-hole Jack Nicklaus Signature course set above 7,500 feet with views toward the Spanish Peaks and surrounding wilderness. Unlike bundled-access Spanish Peaks next door, membership at The Reserve is explicitly not tied to property ownership -- Moonlight Basin's own materials describe membership as "currently available" with ownership "not a membership requirement at this time," meaning both owners and, at the club's discretion, outside applicants may pursue membership separately. A confirmed reciprocity arrangement connects The Reserve to Spanish Peaks Mountain Club: Spanish Peaks Signature Golf members receive ten annual tee times at The Reserve, and Moonlight Basin members receive equivalent access back at Spanish Peaks, plus 48-hour advance event/dining reservations at each other's clubhouses. No such reciprocity was found between either club and neighboring Yellowstone Club, which independent research found operates as a fully separate, non-reciprocal club despite its physical adjacency.