The Consolidation Conundrum: What does it mean for skiers?
Yep, it’s happening again: Vail is buying more ski resorts. Last week they acquired Okemo in...
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Tag: Vail
Is Consolidation Good or Bad for the Ski Industry?
In recent weeks, the ski world has been rocked by a number of acquisitions: Vail bought Stowe, and then Aspen and KSL Capital Partners formed a partnership that led to the purchase of Intrawest resorts, followed by Mammoth, June, Bear, and Snow Summit. Consolidations are nothing new, though they seem to be getting more and more common. Let’s take a look at the biggest, so you understand who owns what (keep in mind, though, that things could change any moment):
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Is Vail taking over the ski world? And is this a good thing?
Last week the ski world reverberated with the news that Vail was entering into an agreement to buy Whistler Backcomb, arguably the crown jewel of Canadian ski resorts, and one of the best and largest in the world. This is anything but small potatoes. Vail is spending $1.1 billion for the acquisition, or $1.4 billion Canadian.
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Getting to the top.
People get incredibly attached to lifts. Here in Vermont, it’s not unusual to see a house with an old lift chair or gondola cabin in the yard. And then there’s the historic single chair at Mad River Glen, which has a mystique all its own (see the image above). When the mountain refurbished its lift in 2007, the old chairs were auctioned off to raise funds, with a minimum starting bid of $1,000. They sold.
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The Vailification of the Ski Industry.
Seems like everywhere you look lately, you see a Vail Resort. And that’s hardly an exaggeration. Vail recently announced its entry into a long-term lease with the affiliate companies of Talisker Corporation for Canyons Resort in Park City, Utah. Vail takes over ski area operations and Talisker Corp. retains the right to develop 4 million square feet of real estate at the resort.
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