In a move that should surprise no one, this morning Vail Resorts officially went east, agreeing to buy the mountain operations of Stowe Mountain Resort in Vermont for $50 million from a subsidiary of insurance giant AIG. The move had been rumored for months and was signed on Friday. Stowe will join Vail Resorts’ hugely popular Epic Pass next season and will become the second mountain newly-acquired by Vail to abandon the Mountain Collective following Whistler-Blackcomb. Like Whistler, Stowe will probably also abandon its SKIDATA RFID lift access technology in favor of the proprietary Epic system.
“We’re thrilled to add Stowe Mountain Resort to our family of world-class mountain resorts. With the investments in both mountain infrastructure and base area facilities that AIG has made over the years, Stowe Mountain Resort has become the premier, high-end resort for East Coast skiers and snowboarders. We look forward to working with AIG to continue enhancing the guest experience and to ensure the resort’s long-term success,” said Rob Katz, chairman and chief executive officer of Vail Resorts.
Like the flagship Vail Mountain, Stowe has invested heavily in new lifts from both Doppelmayr and Leitner-Poma in recent years, adding six new lifts since 2004. Four of those additions are located on the redeveloped Spruce Peak at Stowe. The addition of Stowe’s eight chairlifts and two gondolas brings Vail Resorts to operate more than 260 lifts across 13 mountain resorts. Vail has already announced four new high-speed lifts (three Leitner-Poma, one Doppelmayr) to be built at Beaver Creek, Breckenridge, Keystone and Vail for next winter. The purchase of Stowe is expected to close sometime this spring.