The largest publicly-traded ski resort company in the world today simultaneously unveiled two major transactions to buy ski resorts in four different states for more than $300 million. Vail Resorts will acquire Triple Peaks, LLC for $82 million and Stevens Pass, Washington for $67 million, subject to regulatory approval. The former, founded and owned by Tim and Dianne Mueller, operates Okemo Mountain Resort in Vermont, Crested Butte Mountain Resort in Colorado and Mt. Sunapee in New Hampshire, hence the name Triple Peaks. Broomfield, Colorado-based Vail will buy out the three resorts’ long term leases from Oz Real Estate upon closing for an additional $155 million. Okemo, Mt. Sunapee and Crested Butte signed onto the industry-pioneering Epic Pass back in March and will now offer unlimited, unrestricted access for Epic passholders.
Another Oz-owned resort, Stevens Pass, will be sold to Vail for $67 million in a separate deal subject to regulatory approval. Stevens Pass is currently operated by Karl Kapuscinski along with Mountain High, California. The SoCal resort is not included in Vail’s purchase. Stevens Pass will join the Epic Pass for the first time, making it an even more compelling product for Pacific Northwest skiers who frequent Whistler Blackcomb. Stevens will also be included in the Edge Card, a product that predated Vail and is offered exclusively to residents of British Columbia and Washington. Notably, Stevens Pass has major lift expansions on both flanks of the current trail system in its approved master plan.
With today’s news and other deals including the sale of six resorts to Boyne Resorts, the Oz Real Estate Ski Resort Holdings portfolio now includes just Jiminy Peak and Sierra at Tahoe, down from 15 resorts at its peak under CNL Lifestyle Properties. Northstar California, Mountain High and Bretton Woods were also sold off over the last few years.
Once again in 2016, Seattle found itself the fastest-growing big city in America, and the only one of the top five in close proximity to major mountain resorts. The Seattle-Tacoma-Bellevue metro area is now home to 3.8 million people, seven figures more than metro Denver or the Wasatch Front and growing faster than both. Yet despite being generally outdoorsy and with high average incomes, Puget Sound residents have only three real choices for where to spend a day skiing. Unlike in neighboring Oregon, where three resorts flank Mt. Hood and another Mt. Bachelor, Washington’s large volcanoes never saw ski development before being placed under conservation. Most of Washington State’s ski areas lie far from Puget Sound, along which two-thirds of Washingtonians live, concentrating some 1.5 million skiers annually at The Summit at Snoqualmie, Stevens Pass and Crystal Mountain.
Crystal spun off from Boyne Resorts in April to become Seattle’s only locally-owned and operated mountain. The resort’s master plan includes new lifts but most of them have already been built. Michigan-based Boyne still operates The Summit at Snoqualmie, just 45 minutes from Amazon’s new 24,000-head complex in Downtown Seattle. The Summit’s approved plan includes a dozen new lifts but almost all of them simply replace very old ones. That leaves the place where I first rode a detachable chairlift in 1997, Stevens Pass, to meet much of the Puget Sound region’s growing demand for local skiing. As the second busiest resort in Washington, Stevens averages double the skier density of Crystal and Snoqualmie. Located along U.S. Route 2, Stevens Pass grew under the ownership of Seattle-based Harbor Properties, which also at one point held Mission Ridge and Schweitzer. In 2011, Harbor sold Stevens to CNL Lifestyle Properties with operations assumed by Karl Kapuscinski of Mountain High, California. Stevens saw one new lift during CNL’s tenure, a Doppelmayr detachable in Mill Valley called Jupiter Express.
Feb 04, 11:55AM: All parking lots are full. No parking is available at this time. We apologize for the inconvenience.
As the 2007 Stevens Pass master plan notes, “demand for skiing facilities currently exceeds capacity both on the trails, on the lifts and in the base area. A a result, Stevens Pass frequently experiences days when these facilities are overcrowded, resulting in the use of satellite parking, long lift lines, lack of seating and a shortage of restrooms.” The introduction concludes by noting Stevens has been over-utilized every year since 1995. But with its ambitious upgrade plan approved in 2015 and new stability following the sale of CNL’s ski holdings to hedge fund Och-Ziff last fall, more lifts and less crowding are on the horizon.
1. Single Chair, Mad River Glen, VT – 1948 American Steel & Wire Single Chair
The single chair at MRG still has its original towers and terminal structures but everything else was replaced by Doppelmayr CTEC in 2007. As part of that project, towers were removed, sandblasted and repainted before being flown back to new foundations with new line gear. Doppelmayr also replaced the bullwheels, chairs, grips, drive and haul rope. This begs the question of ‘when is an old lift a new lift?’
Everett Kircher of Boyne fame bought this chairlift from Sugar Bowl, CA for $3,000 in 1954. Originally it was a single chair built in 1939. Modified sheave assemblies were machined at the Kircher’s car dealership in Michigan when the lift went to Tennessee. At some point it appears to have gotten newer-style Riblet towers. Boyne Resorts still operates this lift 800 miles from their nearest ski resort. (edit: JP notes in the comments below that this version was replaced by a Riblet double in 1991. Thanks JP!)
3. Chair 1, White Pass, WA – 19551962 Riblet double
This lift only operates on busy weekends and holidays but it’s an old one and a good one . A classic Pacific Northwest center-pole double with very few modifications from its original design and no safety bars! (edit: Brian notes in the comments that this lift was actually installed as Chair 2 in 1962. The original chair 1 operated 1955-1994.)
What if you could build two lifts for the price of one longer lift? A handful of ski areas have done it with “up and over” lifts. With this setup, riders load at each end and unload at a ridgetop mid-station. There are obvious cost advantages but also limited locations where such a lift makes sense. Due to multiple load/unload areas more stops and slows can occur. Another disadvantage is that the entire system has to run even if only one side is open. Most up and over lifts are located in the Pacific Northwest.
Robert Redford’s Sundance Resort built a CTEC up and over quad in 1995 to replace two lifts. Skiers who load Ray’s Lift in the main village can unload at the Mont Mountain summit or continue down the other side to the base of the Arrowhead lift. Guests can also load at this end to ride back up to the mid-station. Ray’s lift is a beast – depending on the season it has eight different load/unload points, five lift shacks with controls and 33 towers.
Stevens Pass considers its Double Diamond/Southern Cross system as two separate lifts. Skiers load at both ends and unload on two ramps at the summit which are monitored by one operator. The front side portion, called Double Diamond, is short and steep while the rest of the lift is on the Mill Valley side and dubbed Southern Cross. This system was also built by CTEC in 1987. The combined lift is 5,700 feet long and moves 1,200 people per hour up each side.
Perhaps the most famous of the up and over lifts is the Dinosaur at Snoqualmie’s Hyak. It was built by Murray-Latta in 1965. Over 5,000 feet long, it started at the base of Hyak, crossed the summit and continued down into Hidden Valley. This one lift accessed 100% of the resort’s terrain on both sides of Mt. Hyak. The lift had a rollback in 1971 that injured dozens of skiers. The Dinosaur continued to run until 1988. When it closed, large portions of Hyak became abandoned. The Dinosaur sat idle until was removed in 2009 and replaced with two used Riblet lifts, a triple on the front side and a double in Hidden Valley.