Photo by Nathan Bilow
In the latest ski resort purchasing drama, Vail Resorts will acquire Crested Butte Mountain Resort, Colorado, Stevens Pass, Washington, Okemo Mountain, Vermont and Mount Sunapee, New Hampshire via two separate transactions.
Vail Resorts has reached an agreement to purchase Triple Peaks, LLC (owned by the Mueller family), owners and operators of Crested Butte, Okemo and Sunapee for $82 million. In addition, Vail Resorts will pay the $155 million lease owed by Triple Peaks to Ski Resort Holdings, LLC, at closing.
In a separate deal, Vail Resorts is purchasing Washington’s Stevens Pass from Ski Resort Holdings, LLC, for a total of $67 million.
The deals gives Vail a variety of new terrain options to offer its guests, from the incredible steep skiing found at Crested Butte and Stevens Pass, to the groomers and terrain parks of Okemo and Sunapee.
“Together, the acquisitions of Okemo, Mount Sunapee, Crested Butte and Stevens Pass will significantly enhance the Vail Resorts’ network of resort experiences, adding even more variety and choice for all of our pass holders and guests. Okemo and Mount Sunapee are terrific complements to Stowe in the Northeast, as is Crested Butte to our four Colorado resorts, and Stevens Pass for our Whistler Blackcomb and Seattle guests,” said Rob Katz, chairman and CEO of Vail Resorts.
When each deal closes, both the 2018-19 Epic and Epic Local passes will offer unlimited days at all four resorts. Crested Butte will be Vail Resorts’ fifth Colorado ski resort, joining Vail, Keystone, Breckenridge and Beaver Creek; Okemo joins Stowe as Vail’s second Vermont resort, while Stevens Pass and Sunapee will be the company’s first resorts owned in Washington and New Hampshire, respectively.
The latest purchase in this battle of the season passes involving Vail Resorts and Alterra Mountain Company is a big one, and the stakes are sure to be raised going into the next big transaction.