Vail Resorts to Buy Two Midwest Destinations for $20M

Vail Resorts announced that it had entered into agreements to purchase two premier ski destinations in the midwest in a $20 million all cash deal. Vail expects to complete the purchase Afton Alps in Minnesota and Mount Brighton in Michigan within the next month, and will enhance both the on-mountain and base area experience at each ski area. According to a Denver Business Journal article, the acquisitions will make the Broomfield-based company's cache of out-of-state resorts larger than its in-state collection for the first time.

"We are thrilled to welcome Afton Alps and Mount Brighton to the Vail Resorts family," said Rob Katz, chairman and chief executive officer of Vail Resorts. "These acquisitions are part of a new strategy for Vail Resorts to drive season pass sales and build broader guest loyalty by looking at premier smaller ski areas located near major urban markets. We plan to bring state-of-the-art racing, terrain parks, coaching and technology to the guest experience. We also will connect these urban ski areas to our world-class resorts in Colorado, California and Nevada with new season pass offerings, providing the chance to experience the best skiing and riding locally and in the West."

Both ski areas serve major snow sports markets in the Midwest with more than 468,000 active skiers and snowboarders in the nearby Minneapolis-St. Paul and Detroit metropolitan areas. Afton Alps is the largest ski area near a major city in the Midwest with 48 trails on nearly 300 acres, 18 lifts, four base areas, night skiing and riding, tubing and an 18-hole golf course. Mount Brighton features 26 trails on 130 acres, six lifts, night skiing and riding and an 18-hole golf course. Afton Alps and Mount Brighton season pass holders will immediately receive a 25-percent discount off of the window rate on lift tickets at Vail, Beaver Creek, Breckenridge, Keystone, Heavenly, Northstar and Kirkwood this season.

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