BREAKING NEWS: Aspen Skiing Company with KSL (owners of Squaw Valley/Alpine Meadows) to acquire Intrawest, owners of Steamboat, CMH Heli Skiing, Mont Tremblant, Blue Mountain, operators of Winter Park and more.
Big news out of the USA today as Aspen Skiing Company post the following on their website:
Aspen Skiing Company has been exploring ways to grow the company for some time. We are thrilled to announce that we have taken just such a step by partnering with an affiliate of KSL Capital Partners, LLC (KSL) to acquire Intrawest Resort Holdings. KSL is our partner in Snowmass Base Village and also owns Squaw Valley/Alpine Meadows.
Together, we are forming a new entity to acquire this incredible collection of resorts, run by a capable and committed management team. Intrawest, headquartered in Denver, owns Steamboat and operates Winter Park in Colorado. The company also has several resorts in the East, including Snowshoe, WV, Stratton Mountain, VT, Mont Tremblant, Quebec, Blue Mountain, Ontario, as well as Canadian Mountain Holidays, British Columbia, and the management of several condominium hotel properties.
Each resort has a strong sense of place with incredible passion and commitment from their employees and loyal guests. We’re convinced this new venture will bring fresh perspectives to these unique properties, help them enhance the guest experience, and foster even stronger partnerships with the local communities. Aspen Skiing Company will continue to be operated separately from Intrawest and Squaw, but we plan to work together in areas that make sense.
As we embark on this new adventure, it’s our shared commitment and values-based approach alongside our new partners that will continue to grow our business, offer new opportunities to employees and make the company, the sport and the lifestyle sustainable for many years to come. Fundamental to this announcement is our ongoing dedication to maintaining and building upon what is special and unique about Aspen Snowmass. We have thought long and hard about growth and ensuring it does not distract us or diminish our dedication to this community, and we firmly believe that by broadening our perspective and reach, we will be even stronger and more effective in living our values, our principles, and our passion.
For the full 2017-18 winter season, all resorts involved in the transaction will honor their existing pass products currently on sale, including the Mountain Collective, the Rocky Mountain Super Pass + and the M.A.X. Pass.
More to come as the story unfolds today.