In the span of just three days, Vail Resorts has gained a challenger that spans North America. Today the new team of Aspen Skiing Company and KSL Capital Partners announced an agreement to acquire Mammoth Resorts from an ownership group led by Starwood Capital. Mammoth Mountain, Bear Mountain, June Mountain and Snow Summit will join the Intrawest resorts and Squaw Valley/Alpine Meadows brought under one roof on Monday. “This new platform, built around a collective passion for the mountains and our commitment to the people who visit, work and live there, is exactly what the ski resort business needs,” said Rusty Gregory, the longtime manager and chief executive of Mammoth Resorts. He called the move “the next logical chapter in the story of Mammoth.”
The new yet-to-be-named entity will operate:
- Alpine Meadows, CA
- Bear Mountain, CA
- Blue Mountain, ON
- June Mountain, CA
- Mammoth Mountain, CA
- Snowshoe, WV
- Snow Summit, CA
- Steamboat, CO
- Squaw Valley, CA
- Stratton, VT
- Tremblant, QC
- Winter Park, CO
Aspen Skiing Company will continue to independently own Aspen Mountain, Aspen Highlands, Buttermilk and Snowmass but it will likely cozy up to its partner resorts. With Aspen included, the new company will operate 207 lifts at 16 mountains compared with Vail Resorts’ 261 lifts at 14 mountains. Like Monday’s deal, the Mammoth acquisition is expected to close in the third quarter. What a week, and it’s only Wednesday.
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