News Roundup: South America

This is an open thread.  Feel free to leave a comment on anything lift-related.

Vail Resorts to Buy Whistler Blackcomb in $1 Billion Deal

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The largest ski resort company in the world, Vail Resorts, announced a deal this morning to buy North America’s biggest ski mountain for just over USD$1 billion in cash and stock. The acquisition of Whistler Blackcomb brings Vail Resorts’ portfolio to a dozen mountain resorts including the most-visited in the United States, Canada and Australia.  Vail Resorts, Inc. will also own six of the top ten mountains by skier visits in North America. The company has been looking to grow internationally since acquiring Australia’s Perisher Resort in 2015.

Whistler Blackcomb Holdings currently trades on the Toronto Stock Exchange. CEO Dave Brownie says the company’s board has been “monitoring the unique challenges facing the broader ski industry due to the unpredictability of year-to-year regional weather patterns.”  As a result, the Whistler Blackcomb board accepted a takeover offer from Vail that places a 43 percent premium over Friday’s stock price, valuing W-B Holdings at CDN$1.39 billion.

The deal is expected to close before the end of the year.  On the season pass front, Whistler Blackcomb will quit the Liftopia-powered Mountain Collective pass after this season and join Vail’s Epic Pass.  Epic pass-holders will have access to 253 lifts at Vail’s 12 resorts in three countries.

Whistler Blackcomb announced a $345 million capital improvement plan called Renaissance earlier this year that will include new lifts on both mountains over the next 20 years and Vail intends to continue investing in this initiative.

News Roundup: New in New Zealand

Whistler Blackcomb Unveils $345 Million Renaissance

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Whistler Blackcomb’s market capitalization surpassed $1 billion last week as its stock reached an all-time high on the Toronto Stock Exchange.  Already North America’s largest and most visited ski destination, the company today unveiled a $345 million capital plan, the largest in its history.  On-mountain improvements are only part of the initiative which also includes new four seasons attractions, base area revitalization and additional real estate development.

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The Magic Chondola will connect Blackcomb base to Base II.

The big lift news is Renaissance Phase One will include a new chondola to replace the Magic Chair connecting the Blackcomb Daylodge to Base II, where a 16,300 square foot waterpark and skier services building will go up.  The park and chairlift will be just one component of a new Blackcomb Adventure Park with a mountain coaster and more.  The chondola will be open day and night to connect the key destinations at both ends.  I suspect W-B will also expand hours on the first section of Excalibur to create a true gondola transit system between the Blackcomb base areas and Whistler Village.

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