New Mega-Ski Resort Company Set to Buy Utah’s Deer Valley Resort
“Deer Valley Resort is one of the preeminent mountain resorts in the world and is a tremendous addition to our existing portfolio,” said David Perry, president and chief operating officer of the new joint venture. “Prior to this acquisition, we were able to offer our guests exceptional experiences throughout most of North America’s major ski regions, but we did not have a resort in Utah, a state that is renowned for great skiing and mountain town life.”
“Joining this portfolio of resorts will enable Deer Valley to build upon its outstanding traditions and further enhance our ability to provide our guests with a world-class skiing experience,” said Bob Wheaton, president and general manager of Deer Valley Resort. “I look forward to working with them as we develop our vision for the future of the resort and the new company.” For the full 2017-18 winter season, Deer Valley will continue to honor the existing pass products that are currently on sale.
Deer Valley Resort offers 21 chairlifts, 101 ski runs, six bowls, 12 restaurants, 300 annual inches of powder, three day lodges, 2,026 acres of alpine skiing, hundreds of luxury accommodations, and a renowned Ski School and Children’s Center.
The new joint venture, which includes Intrawest Resorts, Inc., Mammoth Resorts, Squaw Valley Ski Holdings, is expected to introduce its new brand prior to the upcoming ski season. Together, Intrawest, Mammoth Resorts, and Squaw Valley Ski Holdings own and/or operate 12 mountain resorts with approximately 20,000 skiable acres and significant land available for real estate development.
Those resorts are located across most of North America’s major ski regions, including Squaw Valley, Alpine Meadows, Mammoth Mountain Ski Area, Snow Summit, Bear Mountain, and June Mountain in California; Steamboat Ski & Resort and Winter Park Resort in Colorado; Blue Mountain Ski Resort in Ontario; Mont Tremblant Resort in Quebec; Stratton Mountain Resort in Vermont; and Snowshoe Mountain Resort in West Virginia. The company also operates an adventure travel business, the cornerstone of which is Canadian Mountain Holidays, the world’s leading heli-skiing adventure company.
A newly formed entity controlled by affiliates of KSL Capital Partners, LLC and Henry Crown & Company, which in July joined together 12 ski resorts owned by Intrawest Resorts Holdings, Inc., Mammoth Resorts, and Squaw Valley Ski Holdings, has entered into a definitive agreement to buy Deer Valley Resort in Park City, Utah. Financial terms of the transaction were not disclosed and the transaction is expected to close prior to the upcoming 2017-2018 ski season.