A Colorado partnership has agreed to buy Mammoth Resorts, the ski company that runs four of California's most popular resorts, further consolidating the country's ski slopes into the hands of a few major developers. Intrawest's CEO prior to past year was Bill Jensen, also a former president at Vail Resorts.
"I assume that they will want to enhance operations and take us to the next level", Stone said.
For Northern Californians interested in skiing or snowboarding, it's hard to overstate the importance of the Aspen-KSL purchase.
"By offering fiber-ready services to multi-tenant office buildings across the state of Utah, we can more quickly connect our business customers to the power of the digital world and offer them access to the same blazing-fast gigabit service that enterprises throughout the county already trust for affordable and scalable business solutions".
Resnick said that while the deals for Intrawest and Mammoth were not predicated on a season pass product, in time there will be "new compelling products for the consumer". He went on, "This new platform, built around a collective passion for the mountains and our commitment to the people who visit, work and live there, is exactly what the ski resort business needs". Also slated to close third quarter 2017, this transaction includes Mammoth Mountain Ski Area, Snow Summit, Bear Mountain and June Mountain, joining an impressive roster with Aspen's four mountains, Steamboat, Winter Park, Squaw Valley/Alpine Meadows, Stratton Mountain, Tremblant, Blue Mountain and Snowshoe Mountain.
Vail has added resorts to its "family" at a rate of one or two a year, carefully integrating each in to its global "Epic Pass" sales and marketing policy, but it's unclear yet whether the Aspen/KSL Partners conglomerate has plans to create a central corporate brand for its recently acquired resorts, or if it plans to leave them to operate independently. We invested in the mountains, our people, and planning for the long term future.
Hanle said he did not think the changes would impact Colorado's iconic ski industry.
Skico's familiarity with Mammoth in the Mountain Collective Pass led to the merger.
"We really learned that we see eye-to-eye on many things", Perry said.
"As part of the team and new company formed, we are excited to work with a group of truly great mountain resorts and their teams".
Connecticut-based Starwood Capital paid $365 million in 2005 for Mammoth, with both Intrawest and Mammoth founder Dave McCoy selling their interests in the ski area. Mammoth Lakes, the cozy town with a large airport at the base of the ski area, has revived under Starwood's investment. "Whether it's the vibrant park and pipe scene, the high quality alpine racing programs, or excellent mountain biking, Mammoth has it all", said Mike Kaplan, CEO of Aspen.
Aspen Skiing's operations include the Colorado ski resorts of Snowmass, Aspen Mountain, Aspen Highlands and Buttermilk. "We had greater plans for Mammoth but the Great Recession and then some less favorable weather, interfered with our strategic aspirations in a finite life investment vehicle".