Major Ski Resort Companies To Merge In $1.5 Billion Deal

Aspen Skiing Company LLC is teaming up with KSL Capital Partners LLC to buy up Intrawest Resorts Holdings Inc, a company that owns six ski resorts across the whole of North America. The deal is reported to be worth approximately $1.5 billion, including debts.

Intrawest, of course, currently owns Steamboat Ski Resorts, in Colorado; Snowshoe, in West Virginia; Stratton Mountain, in Vermont; Blue Mountain, in Ontario; Mont Tremblant, in Quebec; and the Canadian Mountain Holidays heliskiing operations located in British Columbia.

“Stratton is a key component of Vermont’s tourism industry, and plays vital role in the economy of Southern Vermont,” State Rep. Oliver Olsen said. “A new ownership structure brings new opportunities for Stratton, its employees, and local businesses in the area. I look forward to learning more about future investments in Stratton, and stand ready to assist Aspen Skiing Company and KSL as they look to enhance the value of this important economic asset.”
The company that owns the Aspen area’s ski resorts is teaming up with a private equity firm to buy the owner of several ski resorts in the United States and Canada.

Aspen Skiing Co. announced Monday it was partnering with Denver-based KSL Capital Partners to acquire Intrawest Resorts Holdings for about $1.5 billion, including debt.

Intrawest owns Steamboat Ski Resort in Colorado, Snowshoe in West Virginia, Stratton Mountain in Vermont, Mont Tremblant in Quebec, Blue Mountain in Ontario and the Canadian Mountain Holidays heliskiing operation in British Columbia.

“Stratton is a key component of Vermont’s tourism industry, and plays vital role in the economy of Southern Vermont,” explains Vermont State Rep. Oliver Olsen. “A new ownership structure brings new opportunities for Stratton, its employees, and local businesses in the area. I look forward to learning more about future investments in Stratton, and stand ready to assist Aspen Skiing Company and KSL as they look to enhance the value of this important economic asset.”
Vail Resorts, of course, is a massive ski vacation organization, with 13 ski areas including Beaver Creek, Keystone, Mount Brighton, Kirkwood Afton Alps, Park City, Northstar, and Breckenridge.

In addition, Intrawest chief Thomas Marano comments, “We are excited to work with Aspen and KSL. Our new partners bring additional financial resources and a shared passion for the mountains and our mountain communities. Both Aspen and KSL are committed to helping Intrawest accelerate our plans to bring more value to our guests, more opportunities for our employees and more investment into our local communities.”