Steamboat Springs Happenings

Steamboat's Acquisition Update!

Posted: August 25, 2017 by Steamboat Manager

According to Mike Gorrell of the Salt Lake Tribune on 8/21/17

"Deer Valley Resort has been purchased for an undisclosed price by a new ski company whose prolific growth this year has made it big enough to rival Vail Resorts.

Expected to take effect before next ski season, the sale announced Monday makes Deer Valley part of a joint venture whose resorts already include Squaw Valley, Alpine Meadows and Mammoth Mountain in California, and Steamboat and Winter Park in Colorado. Back East, it has Stratton Mountain Resort in Vermont and resorts in Quebec, Ontario and West Virginia.

Solitude Mountain Resort, which Deer Valley bought in 2015, is not part of the deal, a Deer Valley statement said. “Deer Valley partners” will continue to own the Big Cottonwood Canyon resort.

Deer Valley will honor existing pass products currently on sale, added Deer Valley President Bob Wheaton.

Why sell?  “Over the last 36 years,” he said, “Deer Valley has developed into one of the highest quality ski resorts in the country. This transaction puts the resort in a strong position to continue to grow as part of a portfolio of 12 other outstanding resorts.”

The joint venture, which does not have a specific name, was created by affiliates of two big companies:

• KSL Capital Partners, a private equity firm that specializes in travel and leisure enterprises. It has owned Squaw Valley Alpine Meadows for the past six years and has offices in Denver.

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