Aspen Skiing Company, owner of Aspen Snowmass, in partnership with an affiliate of KSL Capital Partners, who owns Squaw Valley/Alpine Meadows and is a co-owner of Snowmass Base Village, just announced this morning that they’ve acquired Intrawest Resort Holdings to the tune of $1.5 billion. Intrawest owns Steamboat Resort, operates Winter Park and also owns several other resorts including Mont Tremblant, Quebec, Stratton Mountain, Vermont, Snowshoe, West Virginia, Blue Mountain, Ontario and Canadian Mountain Holidays in British Columbia and manages several condominium hotel properties.
“The enthusiasm that Intrawest’s employees exhibit for the guest experience and for being responsible members of their communities is apparent in all they do. We are excited to be part of the investment group that is going to work hard to help realize the collective potential of Intrawest’s portfolio of resorts,” said Mike Kaplan, CEO of Aspen Skiing Company.
Aspen Skiing Company will continue to operate separately from Intrawest and Squaw, however the groups will work together in areas that make sense. This new entity will be headquartered in Denver, Colorado.
“As we embark on this new adventure, it’s our shared commitment and values-based approach alongside our new partners that will continue to grow our business, offer new opportunities to employees and make the company, the sport and the lifestyle sustainable for many years to come. Fundamental to this announcement is our ongoing dedication to maintaining and building upon what is special and unique about Aspen Snowmass,” said Aspen Skiing Company.