Vail Resorts, which already owns more than a dozen resorts and ski areas, including the recent addition of Perisher, in Australia, just announced they’re getting even bigger. In a standalone buy, Vail picked up Stevens Pass Resort in Washington, then is also bought Triple Peaks, a ski resort operator that runs, or ran, Crested Butte in Colorado, Vermont’s Okemo Resort, and Mount Sunapee in New Hampshire. All four are now part of the Vail Resorts family.
Stevens Pass was purchased for a reported $67 million. The Triple Peaks deal cost roughly $82 million. Vail plans to pour some $35 million into upgrades for their new resorts in coming years.
Vail Resorts’ Epic Pass, their multi-tiered resort pass system, good for varying degrees of skiing access at more than 60 resorts worldwide will now include the four new additions to the Vail resorts lineup.
Nearly 700,000 Epic Passes were sold in 2017, surely a motivating factor for the new acquisitions.
The Epic Pass has competition in the Ikon Pass, administered by Alterra Mountain Company, good at more than two dozen resorts. Combined, the two pass systems allow entry to nearly 100 resorts around the world. The consolidation of ski resorts under just a couple umbrellas continues.
“We know our guests and employees will benefit from Vail Resorts’ outstanding track record of resort and community investment, environmental stewardship, and employee development,” Tim Mueller, president of Triple Peaks LLC said in a presser. “We care deeply about the legacy of these resorts, and have absolute confidence in Vail Resorts to celebrate what makes them so special, while also providing long-term stability for the communities.”