It just got even better for Epic Australia Pass holders, Vail Resorts is acquiring Okemo Mountain Resort, Mount Sunapee Resort, Crested Butte Mountain Resort and Stevens Pass Resort.
The acquisition will now give Epic Australia Pass holders unlimited, unrestricted access to Crested Butte – instead of the limited 7 days included earlier – and at Okemo & Sunapee in the east and Stevens Pass in the Pacific Northwest (well worth a look, it gets slammed with snow sometimes).
If you haven’t got your Epic Australia pass yet the on sale deadline is June 12th, in line with the Perisher season kicking off this weekend! Pretty insane value at AUD$889.
To summarise what you get now:
– Unlimited, unrestricted access to Perisher during the 2018 season
– Unlimited, unrestricted access to Okemo, Mount Sunapee, Crested Butte and Stevens Pass during the 2018-19 season
– Access to Breckenridge, Keystone and Arapahoe Basin in Colorado; Park City in Utah; and Heavenly, Northstar and Kirkwood at Lake Tahoe; Stowe in Vermont
– 10 days at Whistler Blackcomb, Vail/or Beaver Creek combined, with holiday restrictions
– Five consecutive days of skiing or snowboarding at Hakuba Valley, Japan with no restrictions.
Here’s the latest details –
Vail Resorts to Acquire Okemo Mountain Resort, Mount Sunapee Resort,
Crested Butte Mountain Resort, and Stevens Pass Resort in Two Transactions
Vail Resorts will acquire 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.
In a separate transaction, Vail Resorts will acquire Stevens Pass Resort in Washington State.
Upon closing, Epic Pass and Whistler Blackcomb Edge Card products will now include additional access to all four resorts for the 2018-19 winter season, providing even more variety and options in New England, Colorado, and the Pacific Northwest.
Vail Resorts plans to invest US$35 million in total capital across the four resorts over the next two years.
BROOMFIELD, Colo.—June 4, 2018—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 US$82 million, subject to certain adjustments. At closing, Triple Peaks will pay US$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 US$67 million, subject to certain adjustments. Both transactions are subject to certain closing conditions, including regulatory approvals.
“Together, the acquisitions of Okemo, Mount Sunapee, Crested Butte, and Stevens Pass will significantly enhance the Vail Resorts’ network of resort experiences, adding even more variety and choice for all of our pass holders and guests. Okemo and Mount Sunapee are terrific complements to Stowe in the Northeast, as is Crested Butte to our four Colorado resorts, and Stevens Pass for our Whistler Blackcomb and Seattle guests,” said Rob Katz, chairman and chief executive officer of Vail Resorts. “Additionally, each of these resorts will individually offer guests from around the world entirely new and distinctive experiences in extraordinary locations from coast to coast.”
“We know our guests and employees will benefit from Vail Resorts’ outstanding track record of resort and community investment, environmental stewardship, and employee development,” said Tim Mueller, president of Triple Peaks, LLC. “We care deeply about the legacy of these resorts, and have absolute confidence in Vail Resorts to celebrate what makes them so special, while also providing long-term stability for the communities.”
“Triple Peaks, LLC and the Mueller family and Karl Kapuscinski, the tenant and operator of Stevens Pass Resort, have been outstanding operators of these resorts and we have valued our association with them,” said Steven Orbuch, founder and president of Oz Real Estate. “We are excited for the opportunities that these transactions create for Vail Resorts and its guests while providing a beneficial outcome for our investors.”
When the transactions close, the 2018-19 Epic Pass, Epic Local Pass, Epic Australia Pass, and Epic Military Pass will include unlimited and unrestricted access to all four resorts, with seven and four unrestricted days for the Epic 7 Day and Epic 4 Day passes, respectively. Whistler Blackcomb Edge Card holders will be able to use any of their U.S. days at Stevens Pass, subject to the restrictions on each card. “We are thrilled that the Epic Pass and our other season pass products will now provide our pass holders around the world with even more variety and unique experiences to choose from,” said Kirsten Lynch, chief marketing officer of Vail Resorts.
After closing of the two transactions, Vail Resorts plans to invest US$35 million over the next two years across the four resorts to continue to elevate the guest experience. In addition, annual ongoing capital expenditures are expected to increase by US$7 million to support the addition of these four resorts. Together, these acquisitions are expected to generate incremental annual EBITDA in excess of US$35 million in Vail Resorts’ fiscal year ending July 31, 2019.
Closing of Transactions
The transactions are expected to close this summer. Operations at the four resorts for the remainder of the 2018 summer season will continue in the ordinary course of business, as will future winter seasonal hiring. Upon closing, Vail Resorts plans to retain the vast majority of each resort’s employees and will be working with the local leadership teams in the coming months to determine the right long-term management structure for the resorts.
Vail Resorts will, subject to approval, assume the state land leases for Okemo Mountain Resort and Mount Sunapee Resort and will obtain new Special Use Permits from the U.S. Forest Service for Crested Butte Mountain Resort and Stevens Pass Resort. The state land lease transfers in Vermont and New Hampshire are subject to administrative review and consent from their respective states.
About the Resorts
Crested Butte Mountain Resort, located in southwest Colorado’s Grand Mesa Uncompahgre and Gunnison (GMUG) National Forests, is known for the colorful and historic town of Crested Butte, renowned mountain peaks, and legendary skiing and riding terrain. The resort was established in 1961 and has since passed through three families. The Muellers added Crested Butte to their family of resorts in 2004, following their 1982 acquisition of Okemo Mountain and 1998 acquisition of Mount Sunapee.
Rising above the Vermont village of Ludlow, approximately three hours from Boston and four hours from New York City, Okemo Mountain Resort has developed a reputation for superior guest service, incredible snow quality, grooming, terrain parks, and family programs.
Mount Sunapee, the premier ski area in southern New Hampshire, is just a short 90-minute drive from Boston. The four-season, family-focused ski area has breathtaking views overlooking Lake Sunapee and consistently receives accolades for excellence in snowmaking and grooming.
On the other side of the United States, Stevens Pass, with its exciting terrain and plentiful snowfall, will be the Company’s second resort in the Pacific Northwest. The resort, less than 85 miles from Seattle, sits on the crest of Washington State’s Cascade Range within two national forests, the Mt. Baker-Snoqualmie National Forest on the west side of the crest and the Wenatchee National Forest on the east.
Crested Butte, Okemo and Mount Sunapee join the Epic Pass beginning with the 2018-19 winter season in a long-term alliance.
Epic, Epic Local and Epic Australia pass holders will receive seven days of skiing and snowboarding at each of the three resorts with no blackout dates for a total of 21 days.
Epic 7-Day pass holders can use any or all of their seven days and Epic 4-Day pass holders can use any or all of their four days of skiing and snowboarding with no blackout dates at the three resorts.
Epic, Epic Local, Epic Australia, Epic 7-Day and Epic 4-Day pass holders will receive 50 percent off lift tickets after their respective days have been redeemed.
Crested Butte Peak Pass Plus and Peak Pass holders; Okemo Ultimate, Classic and Gold Pass holders; and Mount Sunapee Full Ride and Skiing Is For Life Pass holders will receive 50 percent off lift tickets at all Vail Resorts owned mountain resorts.
BROOMFIELD, Colo.—March 14, 2018—Vail Resorts, Inc. (NYSE: MTN) announced today that Crested Butte Mountain Resort in Colorado, Okemo Mountain Resort in Vermont and Mount Sunapee Resort in New Hampshire will join the industry-leading Epic Pass in a long-term alliance beginning in the 2018-19 winter season, bringing the total to 64 mountain resorts in 11 states and provinces and eight countries for skiers and snowboarders. Epic, Epic Local and Epic Australia will receive seven days of skiing and snowboarding with no blackout dates at each of the three resorts for a total of 21 days. Epic 7-Day pass holders can use any or all seven of their total days and Epic 4-Day pass holders can use any or all four of their total days of skiing and snowboarding with no blackout dates at the three resorts.
“Crested Butte is a perfect complement to the unique family of resorts offered on the 2018-19 Epic Pass with its legendary terrain and historic mountain town. Okemo is known as a great family-friendly resort and together with neighboring Mount Sunapee and Stowe Mountain Resort, provides three great options for skiers and snowboarders in the Northeast. We strive to offer guests the greatest value and variety in their ski and snowboard vacations and are thrilled to now be able to offer access to 64 of the most celebrated resorts around the world,” said Kirsten Lynch, chief marketing officer of Vail Resorts.
More huge lift pass news Hakuba joins the Epic Australia Pass – 5 days at Hakuba Valley are included with the Epic Australia Pass for 2018-19!
Plus the early bird purchase date has been extended for one week only – as part of the announcement, the option to lock in current pricing with only $49 upfront is available again for one week only, until Thursday, March 8, at www.epicaustraliapass.com.au. After that time, passes will remain available for purchase when paid in full for AU$839.
Hakuba Valley, Japan Joins the Epic Australia Pass
· Hakuba Valley joins the Epic Australia Pass in a long-term alliance, beginning with the 2018-19 winter season in the Northern Hemisphere.
· Epic Australia Pass holders will receive five consecutive complimentary days with no blackout dates at Hakuba Valley’s nine ski resorts.
· The Epic Australia Pass now connects Australia, Japan, Canada and the Best of the U.S. resorts like no other season pass in the world, offering year-round skiing and snowboarding and paying for itself in under five days.
· The popular Epic Australia Pass features 24 mountain resorts in four countries for Australian skiers and snowboarders to enjoy.
· As part of the announcement, the option to lock in current pricing with only $49 upfront is available again for one week only, until Thursday, March 8, at www.epicaustraliapass.com.au. After that time, passes will remain available for purchase when paid in full for AU$839.
BROOMFIELD, Colo. – 1 March, 2018 – Vail Resorts, Inc. (NYSE: MTN) today announced a long-term alliance with one of Japan’s largest and most renowned mountain regions —Hakuba Valley, located in the northern part of the Nagano Prefecture at the base of Japan’s Northern Alps. Following the 2018 Perisher ski season, the Epic Australia Pass will offer five consecutive complimentary days with no blackout dates at the nine ski resorts that comprise Hakuba Valley, beginning with the 2018-19 winter season in the Northern Hemisphere. The Epic Australia Pass now connects Perisher with Japan, Canada and the best of the U.S. resorts, with 24 mountain resorts in four countries on the pass, which is on sale now.
“We’re excited to announce a long-term alliance between Vail Resorts and Hakuba Valley, Japan, offering Australian adventure-seeking skiers and snowboarders access to a part of the world that is legendary for its endless powder and incredible guest experience,” said Kirsten Lynch, chief marketing officer of Vail Resorts. “Our Epic Australia Pass holders now get an even greater value with unlimited skiing at Perisher, as well as access to Hakuba Valley, Whistler Blackcomb, Vail and nine more world-class destination resorts in the U.S. all on one pass.”
“We are pleased to partner with so many world-class mountain resorts that offer the highest standards in skiing and snowboarding on the Epic Australia Pass and to have a longer term alliance for the benefit of Australian skiers and snowboarders,” said Hikaru Takanashi, chairman of Hakuba Valley Promotion Board. “Hakuba Valley is considered the heart and soul of skiing in Japan, with its natural beauty, vast ski terrain and plentiful snow. We welcome skiers and snowboarders from around the world to experience our renowned hospitality.”
As part of the announcement, the option to pay $49 upfront and the balance on May 1 will be available again for one week only. After Thursday, 8 March, the Epic Australia Pass will remain available for purchase when paid in full for AU$839, paying for itself in under five days of skiing or snowboarding. The Epic Australia Pass is the most flexible and best value ski-pass for Australians, offering year-round skiing across world-class resorts including the biggest and most iconic resorts in Canada, the U.S., Australia and Japan, at an unmatched price. Pass holders must present their 2018 pass at the ticket window of any one of the nine Hakuba Valley Resorts in order to receive their five consecutive complimentary lift tickets.