Vail Resorts Closes Acquisition of Three Resorts
Friday, September 28, 2018
Vail Resorts has just announced the closing on their acquisition of Triple Peaks, LLC, the parent company of Okemo Mountain Resort in Vermont, Mount Sunapee Resort in New Hampshire, and Crested Butte Mountain Resort in Colorado. Triple Peaks, LLC was purchase from the Mueller family for approximately $74 million.
Okemo Mountain Resort and Mount Sunapee Resort join Vail Resorts property Stowe Mountain Resort in the northeastern selection of properties. Okemo is located three hours from Boston and four hours from NYC. They are known for their high service standards, perfect snow quality and grooming, and a number of family programs. Mount Sunapee is located in the Mount Sunapee State Park, New Hampshire’s premier ski area and sits just 90 minutes from Boston.
Crested Butte will be added to the Vail Resorts Colorado network. Located in a historic town, Crested Butte Mountain Resort offers beautiful mountain peaks and prime skiing and riding terrain.
All these resorts will add many great skiing and snowboarding options for passholders, as the 2018-19 Epic Pass, Epic Local Pass, and Military Epic Pass now include unlimited and unrestricted access to Okemo Mountain Resort, Mount Sunapee Resort, and Crested Butte Mountain Resort. The Epic 7 Day and the Epic 4 Day offer up to seven and four unrestricted days respectively. All these season passes are now on sale with price increases starting on Sunday, October 7.
“We are thrilled to offer pass holders even more one-of-a-kind experiences in the northeast and in Colorado with the addition of Okemo, Mount Sunapee and Crested Butte to our network of world-class resorts,” said Kirsten Lynch, chief marketing officer of Vail Resorts. “Unlimited, unrestricted access to these resorts through the Epic Pass, Epic Local, and Military Epic Pass, as well as access on the Epic 4 Day and Epic 7 Day, will be a tremendous benefit to skiers and snowboarders.”
Today’s acquisition is the second of two acquisitions announced back in June 2018 to be finalized. The first being Vail Resorts acquiring Stevens Pass Resort in Washington from Ski Resort Holidays, LLC, an affiliate of Oz Real Estate. This property is located less than 85 miles from Seattle and sits on the crest of Cascade Range within two national forests—the Mt. Baker-Snoqualmie National Forest and the Wenatchee National Forest.
Vail Resorts plans on investing $35 million over the next two years across these four resorts to add more value to the guest experience. Annual ongoing capital expenditures are expected to increase $7 million to support the new additions.
Learn more about Vail Resorts and their selection of managed properties here.