Vail adds four more resorts to portfolio

Vail Resorts has announced they will acquire four new resorts in two transactions.

The company will buy Triple Peaks LLC for $82 million. Tripple Peaks is the parent company of Okemo Mountain Resort in Vermont, Mount Sunapee Resort in New Hampshire, and Crested Butte Mountain Resort in Colorado.

Triple Peaks will also pay off $155 million of leases that all three resorts have with Ski Resort Holdings LLC, using funds provided by Vail.

In a separate transaction Vail has purchased Stevens Pass Resort in Washington State from Ski Resort Holdings for $67 million.

Vail plans to invest $35 million over the next two years across the four resorts to continue to elevate the guest experience. Annual ongoing capital expenditures are also expected to increase by $7 million to support the addition of the four resorts.

Epic Pass and Whistler Blackcomb Edge Card products will now include additional access to all four resorts for the 2018-19 winter season.

Transactions are expected to close this summer.