Aspen-KSL Partnership To Buy Intrawest Resorts
Tremblant has new owner. (Tremblant/Facebook)
Consolidation in the winter resort industry continues as a partnership between a newly formed entity in Aspen and a private equity firm announced the pending purchase of Intrawest and its six ski and snowboard resorts.
Included in the deal, which is expected to be closed by next fall, are Steamboat, Winter Park, Snowshoe, Stratton, Mont Tremblant and Blue Mountain. They will join with Squaw Valley-Alpine Meadows, a property of partner KSL Capital Partnership, under the new corporate entity. Aspen SkiCo's Aspen Mountain, Snowmass, Buttermilk and Aspen Highlands are not in the deal and will continue to operate independently.
Season tickets purchased for 2017-2018 at each resort will be honored, and the benefits of multi-resort passes Rocky Mountain Super Pass, the M.A.X. Pass and Mountain Collective will also continue through next season, according to a press release. No information has been given yet about consolidation of ticketing.
Skiers and snowboarders shouldn’t expect to see any major changes at any of the resorts this next season, as the deal won’t be signed and sealed until the third quarter of 2017. However, statements from Aspen Skiing Corp. and KSL Capital Partners indicate that the new corporation is ready to “help realize the collective potential of Intrawest’s portfolio of resorts.”
The deal comes as the latest in a trend toward consolidation in the ski and snowboard business. Vail Resorts expanded into the Eastern market with the recent purchase of Stowe, giving it a across-the-nation portfolio of resorts. Others owning multiple resorts include Boyne USA, Peak Resorts and Powdr Corp.