Ski industry sees another big consolidation with Aspen deal

Intrawest Resort Holdings Inc. includes resorts in Steamboat and Winter Park in Colorado as well as West Virginia Vermont and Quebec

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 Medical Marijuana Likely Coming To West Virginia
Apr 10, 2017 - 02:36
They are still projecting an overall budget shortfall of about $123 million in the fiscal year that ends June 30, Hardy said. Justice says he's issued a proclamation as required by the state constitution and extending the session by a day.

isis-killer-beheading-video-story-top Bernie Sanders Blasts Trump's Airstrike In Syria
Apr 10, 2017 - 02:34
Vermont Senators Patrick Leahy and Bernie Sanders say the US must be wary of using military force in Syria. Both senators stopped short of criticizing Trump for authorizing air strikes Thursday.

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.

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.

isis-killer-beheading-video-story-top Samsung tips 48 percent jump in 1Q profit
Apr 10, 2017 - 02:33
Lee Jae-Yong, the vice-chairman of Samsung Electronics, was brought into the Seoul Central District Court bound and handcuffed. The hefty profits highlight Samsung's resilience after the embarrassing recall of its fire-prone Note 7 smartphone past year .

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.

Trump, Xi meet again - in shadow of missile strikes on Syria
Apr 09, 2017 - 04:34
The most powerful message for the Chinese leader may have been Trump's decision to launch USA missile strikes at Syria. The U.S. president has apparently accepted the invitation and would visit the Asian country later this year.

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.

Not sick and exhausted any more! Coutinho and Firmino rouse Liverpool
Apr 09, 2017 - 04:28
Liverpool might not be possessed of many threats beyond their favoured front players but boy do those ones have power. Hard as it was his compatriot bettered that effort with a thumping first-time 25-yard volley from Wijnaldum's pass.

isis-killer-beheading-video-story-top Jordan Spieth returns to infamous 12th hole at Augusta National
Apr 09, 2017 - 04:25
A collective groan rippled through the crowd. "You think of [the 15th] as a birdie hole, obviously being a par five", he said. Unlike last year's quad, which essentially cost him a second green jacket, this blow may not be fatal to his chances.

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.

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.