Aspen Skiing Co., KSL buying Intrawest Resorts Holdings

Posted April 11, 2017

LLC-which operates several resorts in Aspen, Col., including at Snowmass Mountain-and KSL Capital Partners LLC.

Denver-based KSL Capital Partners is the owner of the Squaw Valley and Alpine Meadows in the Lake Tahoe region.

Featured image courtesy of Stratton Resort's Instagram page.

The company that owns Blue Mountain Resort is set to be acquired by a new group. Stockholders representing a majority of the voting shares of Intrawest have also approved the transaction, which is expected to close by the end of the third quarter of calendar year 2017. We're convinced this new venture will bring fresh perspectives to these unique properties, help them enhance the guest experience, and foster even stronger partnerships with the local communities.

Intrawest, which once ruled the resort world as the world's largest ski area operator, has been on the block since last fall, when its owner, NY hedge fund Fortress Investment Group, began exploring a potential sale.

The deal also includes the world's largest helicopter skiing company, which is based in British Columbia. "Each has its own unique story and its own unique sense of place", said Eric Resnick, chief executive officer of KSL, in a statement.

In the past year alone, Vail Resorts purchased Whistler Blackcomb for a little more than $1 billion and Vermont's Stowe Mountain Resort for $50 million.

He added, "We are excited to work with Aspen and KSL". The Company operates through three segments: Mountain, Adventure and Real Estate. However, management will remain the same at the California ski resort combo. He explained the company can no longer rely on repetitive business.

But the deal is a 6.1% discount to where shares were trading on Friday, when the stock closed at $25.30. We are thrilled to announce that we have taken just such a step by partnering with an affiliate of KSL Capital Partners, LLC (KSL) to acquire Intrawest Resort Holdings.