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Vail purchases Okemo, Sunapee, Crested Butte, and Stevens Pass

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Vail Resorts, Inc. (NYSE: MTN) announced today that it has entered into an agreement to purchase Triple Peaks, LLC, the parent company of Okemo Mountain Resort in Vermont, Mount Sunapee Resort in New Hampshire, and Crested Butte Mountain Resort in Colorado. The Company will purchase Triple Peaks, LLC from the Mueller family for a purchase price of $82 million, subject to certain adjustments. At closing, Triple Peaks will pay $155 million to pay off the leases that all three resorts have with Ski Resort Holdings, LLC, an affiliate of Oz Real Estate, with funds provided by Vail Resorts.
 
As part of a separate transaction, Vail Resorts will also purchase Stevens Pass Resort in Washington from Ski Resort Holdings, LLC, who was advised on the sale by Houlihan Lokey, for a total purchase price of $67 million, subject to certain adjustments. Both transactions are subject to certain closing conditions, including regulatory approvals.

http://news.vailresorts.com/corporate/vailresorts/tpsp.htm

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37 minutes ago, WJenness said:

The Vail "World domination" tour continues...

As the season pass guru, this must change the math. All of the sudden the Epic Pass looks justifiable for someone with a VT base of operations.

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1 hour ago, Weatherman said:

As the season pass guru, this must change the math. All of the sudden the Epic Pass looks justifiable for someone with a VT base of operations.

I’m a big fan of Stowe, and I’m a fan of the pass price point.   Sunapee and Okemo aren’t among the most exciting resorts out there, but at 40 minutes (Sunapee) and 1.5 hours (Okemo), those are tolerable day trips (Stowe at 2.5 is on the upper end of my range - but still worth it).  It is certainly interesting....

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1 hour ago, Weatherman said:

As the season pass guru, this must change the math. All of the sudden the Epic Pass looks justifiable for someone with a VT base of operations.

As a Binghamton resident who does not consider Okemo as superior to far closer and cheaper destinations it only screws me because of reduced competition. 

Edited by Benski

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2 hours ago, WJenness said:

The Vail "World domination" tour continues...

Yes indeed.

 

Vail Ski Resort

Beaver Creek Resort

Breckenridge Ski Resort

Keystone Resort

Mount Crested Butte

Heavenly Mountain Resort

Northstar California

Kirkwood Mountain Resort

Afton Alps

Mount Brighton

Canyons Resort

Park City Mountain Resort

Perisher Ski Resort

Wilmot Mountain

Whistler Blackcomb

Stowe Mountain Resort

Mount Sunapee Resort

Okemo Mountain Resort

Edited by MassNerd

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Already having a pass for this coming year - this may be something to look into 19/20 for me and the wife. 25 minutes to Sunapee (same distance to Crotched) and 2:10 to Stowe (same distance as Wildcat). Don't care about Okemo but it is 15 minutes closer than Mt Snow (which I didn't care for either). So 1 better Mtn - Sunapee vs Crotched, trade off for 2 mtns I love - Wildcat but also love Stowe. and one break even Okemo vs Snow. Then could race at Crotched if I wanted to get some night skiing in.

If I would have know earlier it would be my pass this year... But My Cannon Pass will be used well and often this year.

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Vail seems to have a thing for large upscale resorts geared towards intermediate. I Whistler and Stowe are the only ones I imagine as a place where people go to find challenging terrain. I perisher sounds like Okemo from what I understand, with great amenities but nearby ski areas have better terrain. I think Stowe is the only mountain they own with a reputation for being challenging, except Whistler which big enough to have Tons of expert terrain and Tons of intermediate terrain. 

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17 minutes ago, Benski said:

Vail seems to have a thing for large upscale resorts geared towards intermediate. I Whistler and Stowe are the only ones I imagine as a place where people go to find challenging terrain. I perisher sounds like Okemo from what I understand, with great amenities but nearby ski areas have better terrain. I think Stowe is the only mountain they own with a reputation for being challenging, except Whistler which big enough to have Tons of expert terrain and Tons of intermediate terrain. 

I believe they don't own ABasin but it is on the epic passes and that is challenging also do they own Kirkwood?

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3 minutes ago, Smellytele said:

I believe they don't own ABasin but it is on the epic passes and that is challenging also do they own Kirkwood?

I did not know A basin was on the Epic pass, and Yes they do own Kirkwood, just ignored that, so there is a third. Still, Vail is not close to IKON and its partners when it comes to crazy terrain. 

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I will continue to support our independent NE ski hills......for as long as they exist.

Y’all can do what you want. Suggest you consider doing the same.

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1 hour ago, Benski said:

Vail seems to have a thing for large upscale resorts geared towards intermediate. I Whistler and Stowe are the only ones I imagine as a place where people go to find challenging terrain. I perisher sounds like Okemo from what I understand, with great amenities but nearby ski areas have better terrain. I think Stowe is the only mountain they own with a reputation for being challenging, except Whistler which big enough to have Tons of expert terrain and Tons of intermediate terrain. 

That they they have is a taste for money. They like money.

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6 hours ago, Weatherman said:

As the season pass guru, this must change the math. All of the sudden the Epic Pass looks justifiable for someone with a VT base of operations.

We stopped getting passes at Sunapee because the cost was pretty ridiculous given the mountain and the crowds. This certainly brings it back into play for us.

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3 hours ago, Benski said:

I did not know A basin was on the Epic pass, and Yes they do own Kirkwood, just ignored that, so there is a third. Still, Vail is not close to IKON and its partners when it comes to crazy terrain. 

With this they bring in CB, one of the most, if not the most, extreme lift served areas in CO. Given the proportion of challenging to not challenging mountains out there, I would say they're right at about average.

Roughly 1/4 of their resorts are mountains known for being challenging? Seems about right to me.

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3 hours ago, Jully said:

With this they bring in CB, one of the most, if not the most, extreme lift served areas in CO. Given the proportion of challenging to not challenging mountains out there, I would say they're right at about average.

Roughly 1/4 of their resorts are mountains known for being challenging? Seems about right to me.

I Just noticed Stevens Pass was part of this deal. The place is supposed to be crazy, but no lodging. 

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9 hours ago, BumpOut said:

I’m a big fan of Stowe, and I’m a fan of the pass price point.   Sunapee and Okemo aren’t among the most exciting resorts out there, but at 40 minutes (Sunapee) and 1.5 hours (Okemo), those are tolerable day trips (Stowe at 2.5 is on the upper end of my range - but still worth it).  It is certainly interesting....

What about Crested Butte for a trip out west?  I got the feeling that some MAX passholders liked having CB as an option.

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What I think about the the target market that Vail gets when they buy a smaller resort.  When they bought the three in the midwest, the target markets for the Epic Pass were Chicago, Detroit, and Minneapolis/St-Paul.

Stevens Pass -> Seattle/Tacoma

Okemo -> NYC, NJ, CT, MA

Sunapee -> CT, MA, RI

 

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9 hours ago, MarzNC said:

What about Crested Butte for a trip out west?  I got the feeling that some MAX passholders liked having CB as an option.

It’s certainly compelling - as are several other (western) options on the epic pass.

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1 hour ago, BumpOut said:

It’s certainly compelling - as are several other (western) options on the epic pass.

That'll be my favorite find of the day. Thanks!

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4 hours ago, BumpOut said:

It’s certainly compelling - as are several other (western) options on the epic pass.

Over in Australia, not a surprise that the only location that is being noticed from this Vail announcement is the addition of Crested Butte to the Australian Epic Pass.  Although Stevens Pass was mentioned too.  Makes a difference that Aussies often travel for 2-3 weeks at a time during Jan-Feb so can ski midweek for most of their ski vacation.

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1 hour ago, Benski said:


It was magic yesterday. I think it’s going to be a rotation old fashioned resorts.

I was thinking that the feeling in the MRG blog entry applied to Magic too.  Stopped by yesterday just to look at the lodge to get a sense of the place on my way back to Jiminy Peak after visiting with a friend in VT.

The second sign you see after turning onto the access road to Magic says "You've now officially taken the road less traveled.  WELCOME TO MAGIC!"

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On ‎6‎/‎4‎/‎2018 at 2:23 PM, Benski said:

I did not know A basin was on the Epic pass, and Yes they do own Kirkwood, just ignored that, so there is a third. Still, Vail is not close to IKON and its partners when it comes to crazy terrain. 

I've been to ten Vail Resorts in recent years and a bunch of Mtn Collective places too.  No doubt, there is really great terrain at some of the MCP mountains (AltaBird, Highlands, JH, Squalpine, Taos, Big Sky, etc.), but the advanced terrain at Vail Resorts isn't exactly shabby either.  WRT challenging terrain at Vail Resorts, besides the aforementioned Stowe, W-B, Kirkwood, A-Basin, Crested Butte;  there is also good advanced terrain on the upper mtn at Breckenridge, Motts and Killebrew at Heavenly, Jupiter, 9990 and other spots at Park City.  Also some entertaining stuff at Vail (back bowls, Prima Cornice, BSB) and Beaver Creek (Birds of Prey, Grouse Mtn, Stone Creek Chutes, Royal Elk and Black Bear glades).  Plus, you get several days at Telluride on the EpicPass this year too. 

It's all good.

More details with terrain photos here: 

 

Edited by JimK

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