Over the past few days, KSL Capital Partners and Aspen Skiing Company announced the formation of a new company, which would include: Palisades Tahoe, Mammoth Mountain Ski Area, Snow Summit, Bear Mountain, June Mountain, Steamboat, Winter Park, Mont Tremblant, Stratton, Snowshoe, Blue Mountain and Canadian Mountain Holidays (CMH).
“As part of the team and new company formed, we are excited to work with a group of truly great mountain resorts and their teams. This news speaks very favorably to the health of our industry and has truly positive implications for the overall value to our guests. Most certainly, here at our legendary mountains, we will continue to invest heavily in the improvement of all facets of the guest experience. As we welcomed another two or more feet of snow last Friday, with another few feet of snow coming in by week’s end, we also welcome this exciting announcement!” – president and CEO of Squaw Valley Ski Holdings, the parent company of Palisades Tahoe.
Current Outlook at Palisades Tahoe
“Palisades Tahoe has seen over $70 million in capital improvements over the last six years of its relationship with KSL Capital Partners, investments which have brought tangible enhancement to the guest experience, and I am confident in the future benefits of this relationship. While Squaw Valley Ski Holdings will become part of the entity at closing, it will continue to operate as normal under its current management. There are currently no job changes being contemplated at Squaw Valley Ski Holdings, future summer and seasonal hiring will continue as normal, and our leadership team will remain in place. We’ve built a strong and dedicated team and we are excited to continue working with our guests and the community.” – president and CEO of Squaw Valley Ski Holdings
Mammoth Resorts to be Acquired by Affiliates of Aspen Skiing Company and KSL Capital Partners From Starwood Capital Group
Aspen and Denver, Colorado, April 12, 2017 – Mammoth Resorts, the owner of Mammoth Mountain Ski Area, Snow Summit, Bear Mountain and June Mountain, today announced that it has entered into a definitive agreement to be acquired by a newly formed entity controlled by affiliates of the Aspen Skiing Company, L.L.C. (“Aspen”) and KSL Capital Partners, LLC (“KSL”). A Starwood Capital Group controlled affiliate owns a majority interest in Mammoth Resorts. The transaction is expected to close by the end of the third quarter of 2017, and is subject to certain closing conditions, including regulatory approvals. Terms of the transaction were not disclosed. KSL and Aspen previously announced plans to acquire Intrawest Resorts Holdings, Inc. through this new entity.
Intrawest Resorts Holdings, Inc. to be Acquired by Affiliates of Aspen Skiing Company and KSL Capital Partners
Aspen and Denver, Colorado, April 10, 2017 – Intrawest Resorts Holdings, Inc., a leading North American mountain resort and adventure company, today announced that it has entered into a definitive agreement to be acquired by a newly-formed entity controlled by affiliates of the Aspen Skiing Company, L.L.C. (“Aspen”) and KSL Capital Partners, LLC (“KSL”).
Intrawest is a North American mountain resort and adventure company, delivering distinctive vacation and travel experiences to its customers for over three decades. The Company wholly owns and/or operates six four-season mountain resorts with approximately 8,000 skiable acres and over 1,100 acres of land available for real estate development.