Ski industry sees another big consolidation with Aspen deal

Getty Images              Intrawest owns or operates six mountain resorts

Intrawest owns and operates Stratton Mountain in Vermont, Mont Tremblant in Quebec and Steamboat in Colorado. The deal is expected to close the third quarter of this year. The transaction was unanimously approved by the board of directors of Intrawest.

The acquisition of Intrawest is the latest move in the competition between Aspen and its big rival, Vail Resorts.

According to a media release, Stratton Mountain has been acquired by the Aspen Skiing Company and KLS Partners.

While some Canadian ski areas have struggled to adapt to warmer winters and changing demographics, many others have thrived, said Christopher Nicolson, the president and chief executive of the Canada West Ski Areas Association.

The aforementioned press release also explains that, "For the full 2017-18 winter season, each Intrawest resort will continue to honor the resort's existing pass products that are now on sale, including the Rocky Mountain Super Pass + and the M.A.X".




Manchester Town Manager John O'Keefe said he'll be interested to see how the changes affect the relationship between Stratton and the town, especially given the competition for skiers and other resort visitors looking for hotel rooms or condominium units.

To make the deal, Aspen partnered with KSL Capital Partners to form a new entity. Inc., said the American ski chains are looking north of the border for the same reason as American visitors. Canadian Mountain Holidays, the largest heliskiing operation on Earth, will be acquired by the Aspen Skiing Co. and KSL, too. He explained the company can no longer rely on repetitive business. Intrawest Resorts Holdings, Inc. common stock is traded on the New York Stock Exchange (NYSE: SNOW).

The combined resort holdings of Aspen Skiing Company and KSL now includes all the aforementioned properties as well as Aspen Mountain, Aspen Highlands, Snowmass, Buttermilk, Squaw Valley and Alpine Meadows in California.

Aspen/Snowmass posted information on this merger calling it, "Better Together". Since 2005, KSL has raised approximately $7.5 billion in equity capital commitments.

Related news:

Hot News

isis-killer-beheading-video-story-top Aspen Skiing Co, KSL Capital to buy Intrawest for about $1.5 bln
Apr 11, 2017 - 09:21
Intrawest owns resorts in Colorado, Vermont, West Virginia, and in the Canadian provinces of Quebec and Ontario. Intrawest has been paring down its resort holdings since selling California's Mammoth Mountain in 2005.

isis-killer-beheading-video-story-top New UN peace messenger Malala will promote girls' education
Apr 11, 2017 - 09:18
Malala paid tribute to her father, who attended the ceremony, and said unlike many fathers he never stopped her. I have second life for the goal of [pressing for] education and I'll continue working on [this issue].

isis-killer-beheading-video-story-top Astros top Royals 5-4 on Gattis' bases-loaded walk in 12th
Apr 10, 2017 - 02:33
Cuthbert was the only one to have multiple hits, but along with Hosmer and Perez, belted a hit over the fence for a home run. Kansas City finally broke out when a two-run double by Alex Gordon in the eighth inning put the Royals up by four.

isis-killer-beheading-video-story-top Serbia sweep into Davis Cup semi-finals
Apr 10, 2017 - 02:33
In his doubles win with Julien Benneteau against Jamie Murray and Dom Inglot, Mahut fired this ball back FROM THE STANDS. That's their strength, they have 10 players they can rotate and are unsafe on any surface".

Man Utd confirmed line-up vs Sunderland: No De Gea, controversial captain choice
Apr 10, 2017 - 02:33
Zlatan Ibrahimovic opened the scoring in the first half before Sebastian Larsson received a controversial red card shortly before half-time.

Death toll from Egypt church bombing rises to 21
Apr 10, 2017 - 02:33
The two had reaffirmed their commitment to working together to fight radical groups such as the Islamic State group. Meanwhile, security forces have dismantled two explosive devices at Sidi Abdel Rahim Mosque in Tanta city.

Hillary Clinton cites 'misogyny' as cause for her defeat
Apr 10, 2017 - 02:31
Curiously, she made that observation in response to a question about why white women didn't vote for her. Clinton's support for Trump's strike against Syria is unsurprising.

This Is What A Syrian Refugee Thinks About Trump's Airstrikes
Apr 10, 2017 - 02:29
A statement from the International Refugee Assistance Project following the missile strikes took a similar tone. He told President Obama you cannot do this without the authorization of Congress.

6755 postal workers were attacked by dogs last year
Apr 09, 2017 - 04:30
The nationwide number of dog attacks rose since last year - up to 6,755, an increase of more than 200 over the previous year . The package pickup application at usps .com urges customers to indicate if they have dogs when they schedule package pickups.

Pakistan has to shun terror for friendship: PM Narendra Modi
Apr 09, 2017 - 04:28
Stressing that the deal was "important" for India-Bangladesh ties, Modi assured India's commitment to the issue. Modi added that India's doors were always open for cooperation, but for this terrorism had to be shunned.

isis-killer-beheading-video-story-top Details about Kylie Jenner's reality show have finally been revealed
Apr 09, 2017 - 04:25
Boo! According to TMZ , 22 Savage has already recorded love track for Jenner, entitled "Kylie's Daddy". And the lip kit maven remains emotionally invested in the relationship.

Alabama Supreme Court lifts Bentley impeachment stay
Apr 09, 2017 - 04:24
Mason quit the governor's office in March of a year ago , after accusations about the two became public. Sharman says the court doesn't have a right to interfere with the hearing process at this point.

A slice for the stranded: Delta buys pizza for passengers
Apr 09, 2017 - 04:24
Mid-week storms that have been described as unprecedented in Atlanta have caused as many as 3,000 Delta cancellations. Generally, I've been really happy with Delta; they're a good airline and they have good people.

USA, Canada, Mexico Reportedly Will Submit Joint Bid for 2026 World Cup
Apr 09, 2017 - 04:23
Now, the three countries have set up a press conference for Monday in NY where they will make a "historic announcement". Montagliani said all nations in the region, including the US and Mexico, would have to play in the competition.

isis-killer-beheading-video-story-top China president's plane stops in Alaska after Trump visit
Apr 09, 2017 - 04:22
The company previously shipped coal to Chile, South Korea and Japan, but has no foreign export contracts this year. The pullout offers a stunning view of the snow-capped Chugach Mountains and Turnagain Arm in Alaska's Cook Inlet.