Aspen Skiing has just partnered up with one of its affiliates, KSL Capital Partners. The goal of this investor consortium was to acquire Intrawest Resort Holdings together with all its locations. The two parties negotiated the deal at a total of $1.5 billion.
The Investor Consortium Shares a Vivid Interest in the Joyful Community of Skiers
From now on, the investor consortium made of KSL Capital Partners and Aspen Skiing will have full control over four-season resorts. The main points of attraction are Steamboat, CO, Winter Park, CO, Mont Tremblant, Quebec, Snowshoe, WV, Stratton Mountain, VT, and Blue Mountain, Ontario. However, there are several other secondary locations that are not short of tourists.
The chief of KLS Capital, Eric Resnick, shared his enthusiasm with the press. Since the year of 2005, he has been extremely active in his investments by believing in 30 resorts and hotels. This way, in a span of 12 years, he managed to raise more than $7.5 billion. Resnick stated that he has a particular interest in winter resorts.
“There is no more passionate customer base than skiers in any business we have ever come across.”
The Three Collections of Resorts Can Form a Challenger to Vail Resorts
The chief of KSL Capital continued by admitting that the investor consortium designated a generous fund for improvements. They intend to invest heavily in the community and the resorts. As for Aspen Skiing, its chief Mike Kaplan stated that the company had not taken any decision yet in the direction of a merger. In case the four Roaring Fork Valley resorts will unite with KSL’s Squaw Valley-Alpine Meadows and the newly acquired Intrawest locations, the result would be a challenging competitor to the behemoth Vail Resorts.
However, there are no plans of changing the season pass programs from any of the players for the 2017-2018 season. Nonetheless, many people put their hopes in an extremely appealing offer for two years from now. The new acquisition opens the door to a large array of possibilities for the investor consortium. For instance, Kaplan has already claimed that his expectations regard improvements in staff, technology, e-commerce, and marketing direction across Intrawest resorts.
The new partnership has to organize meetings with shareholders and all other involved parties soon. Together, they will shape the future of the three compelling collections of ski resorts. Until then, ski fans can only guess the wonderful offers that will be waiting for them in a few years.
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