Vail Resorts, Inc. Adds Stowe Mountain to Their Portfolio
Vail Resorts, Inc. acquires Stowe Mountain in the East, making another smart move to continue to provide skiers with opportunities to enjoy world-class skiing and some of the best terrain in the East and in the West!
Historically Vail Resorts, Inc. has amassed some of the best skiing in the nation while owning some of the world’s finest ski resorts including Vail, Beaver Creek, Breckenridge and Keystone in Colorado; Heavenly, Northstar and Kirkwood in the Lake Tahoe area of California and Nevada; Park City Mountain Resort and Canyons in Park City, Utah; Afton Alps in Minnesota, and Mt. Brighton in Michigan.
Adding Stowe Mountain Resort in Vermont, already a premier east coast skiing destination, is a wise business decision for Vail Resorts, Inc. and allows customers including Epic Season Pass holders to enjoy the perks of skiing at one more world-class mountain resort. Stowe Mountain Resort is just minutes from the quaint Vermont mountain community of the same name. Stowe has become a four-season resort offering a variety of year-round events. In the winter months however, with more than 240 plus inches of snowfall annually, Stowe has become a favorite wintertime destination for skiers and wintertime recreational enthusiasts alike. In addition to downhill skiing, guests visiting Stowe also enjoy other winter activities such as snowmobiling, cross-country skiing, dog sledding, ice fishing, ice climbing and more.
Vail Resorts, Inc. prides itself in providing the finest guest experiences at world-class mountain resorts. For that reason, adding Stowe Resort to the portfolio of other Vail Resorts seems like a perfect fit. The Epic Pass, a season pass unique to the Vail Resorts, Inc. portfolio, allows holders to experience world-class skiing at all the companies resorts. Each ski season, Vail Resorts, Inc. offers several other options for multi-day access that includes the Epic Local Pass, Epic 7-Day and Epic 4-Day Pass. Some of these season pass options allow the benefit of skiing at select international resort partners as well, and unlimited access to Perisher Resort in Australia, another Vail Resorts, Inc. company.
With the impending purchase of Stowe Mountain Resort, skiing at this resort will become accessible to Epic Pass holders and in the future Stowe Epic Pass holders will enjoy the benefits skiing at other resorts as well. Vail Resorts season pass updates and more information for the upcoming season will be released later this spring .
The purchase of Stowe Mountain Resort for $50M from Mt Mansfield Company, Inc. (MMC), a wholly owned subsidiary of American International Group, Inc. (AIG) is subject to several price adjustments and Vermont administrative review processes prior to closing. After successful closing, Vail Resorts, Inc.’s season pass holders will gain access to almost 500 acres of additional terrain on Stowe Mountain, Vermont’s highest peak.