Aspen Acquires Intrawest

Earlier this week the Aspen Skiing Co., which runs the four Aspen-area ski resorts, along with private equity company KSL Capital, has scooped up Intrawest for $1.5 billion. Intrawest’s resort portfolio includes Steamboat and Winter Park, and, in a separate deal, Mammoth Mountain, likely the largest ski resort by revenue not already part of the Aspen group or Vail Resorts. The deal for Mammoth includes California’s June Mountain, Snow Summit and Bear Mountain.

Aspen’s latest moves form a serious rival to Vail Resorts and its stable of skiing terrain, including the recently acquired Whistler-Blackcomb. Vail’s steady expansion has fueled growth for its Epic Pass, which grants skiers the right to ski any of its mountains, of which 650,000 were sold last season.

With its new portfolio, Aspen will surely market a rival season pass to Vail’s, likely beginning in the winter of 2018-2019. And with Mammoth now in the fold, Aspen will have outmaneuvered Vail for the Southern California market, for which Mammoth is the drive-to home mountain.

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