Aspen Skiing Company, owner of Aspen’s four mountains, teamed up with KSL Capital Partners, owner of Squaw Valley Alpine Meadows, to acquire Intrawest Resorts Holdings for about $1.5 billion, including debt.
PHOTO CREDIT: Aspen Skiing Company
A new entity owned by both partners is offering $23.75 in cash per share of Intrawest and is expected to close by the end of the third quarter of 2017.
There are a lot of different resorts currently represented on different multi-resort passes in the group involved. Aspen Snowmass and Squaw Valley Alpine Meadows are both on the Mountain Collective while Intrawest’s Blue Mountain, Snowshoe, Steamboat, Stratton, Tremblant and Winter Park resorts are currently on the M.A.X. Pass. Additionally, Winter Park and Steamboat are also on the Rocky Mountain Super Pass+.
For the 2017-18 winter season, all resorts will continue to honor its existing multi-resort and season pass products for the full 2017-18 winter season including the Mountain Collective, the Rocky Mountain Super Pass + and the M.A.X. Pass. Although too soon to speculate, this merger will probably affect multi-resort pass options for the 2018-19 season.
PHOTO CREDIT: Squaw Valley Alpine Meadows
“We are committed to honoring the deep traditions of each resort, while working with Intrawest’s talented management team and employees to continue to serve both their guests and local communities,” said KSL CEO Eric Resnick in a news release.
What do you guys think about this deal? How do you think it will impact skiing and snowboarding in North America? Let us know in the comments below!
[…] comes just two days after SkiCo and KSL announced their purchase of Intrawest Resort Holdings’ six ski areas for about $1.5 …. Before the huge acquisitions this week, SkiCo owned Aspen’s four mountains in Colorado, while […]