A new ski conglomerate has purchased Deer Valley Resort in Park City, Utah, thereby adding another prestigious resort to its already-impressive portfolio.
The new company, which has not been named, was created earlier this year by Henry Crown and Co. and KSL Capital partners to purchase Intrawest Resort Holdings and Mammoth Resorts. Squaw Valley Ski Holdings, which was previously owned by affiliates of KSL, also is part of the new company.
The purchase price of Deer Valley Resort was not disclosed. The transaction is subject to closing conditions, but is expected to close prior to the upcoming ski season. Operations will continue as usual during the full 2017–18 ski season, with the resort continuing to honor existing season pass products that are currently on sale.
“Deer Valley is one of the preeminent mountain resorts in the world and is a tremendous addition to our existing portfolio,” said David Perry, president and CEO of the new company. “Prior to this acquisition, we were able to offer our guests exceptional experiences throughout most of North America’s major ski regions, but we did not have a resort in Utah, a state that is known for great skiing and mountain town life.”
Other resorts purchased by the conglomerate include Square Valley Alpine Meadows and Mammoth Mountain in California, Steamboat Ski Resort and Winter Park Resort in Colorado, Stratton Mountain Resort in Vermont, Snowshoe Mountain Resort in West Virginia, Blue Mountain Ski Resort in Ontario, Canada, and Mount Tremblant Resort in Quebec, Canada.
Bob Wheaton, president and general manager of Deer Valley Resort, is enthused about joining the conglomerate.
“We are thrilled to join this impressive portfolio with 12 other resorts and are excited about the opportunities this transaction will create for our guests, staff and the community of Park City,” he said. “Joining this portfolio of resorts will enable Deer Valley to build upon its outstanding traditions and further enhance our ability to provide our guests with a world-class skiing experience.”
Solitude Mountain Resort, which Deer Valley Resort bought in 2015, is not part of the deal Deer Valley partners will continue to own the Big Cottonwood Canyon, Utah, property.
Henry Crown and Co., established in the early 1900s, invests in publicly traded securities, real estate, investment funding and privately held companies, including four Colorado resorts run by Aspen Skiing Co. KSL Capital partners is a private equity firm that specializes in travel and leisure enterprises.