Vail to buy Vermont's Stowe for $50 million - SNEWS

Vail to buy Vermont's Stowe for $50 million


Vail announced Tuesday that it would buy Stowe Mountain Resort, marking its first East Coast ski area.

Vail will buy Vermont's Stowe

Stowe Mountain Resort, in Vermont, will be Vail's first East Coast resort. // Photo: Wikimedia Commons

Vail Resorts is in the process of acquiring Vermont’s Stowe Mountain Resort for $50 million.

Vail announced the acquisition on Tuesday. It will buy Stowe from Mt. Mansfield Company, Inc., which is owned by American International Group, Inc. (AIG). The purchase marks Vail’s first East Coast ski resort, expanding a portfolio that already includes ski areas in Colorado, Utah, California, Nevada, Wisconsin, Minnesota, Michigan, Australia, and British Columbia.

“We’re thrilled to add Stowe Mountain Resort to our family of world-class mountain resorts,” Rob Katz, chairman and chief executive officer of Vail Resorts, said in the press release.

“With the investments in both mountain infrastructure and base area facilities that AIG has made over the years, Stowe Mountain Resort has become the premier, high-end resort for East Coast skiers and snowboarders. We look forward to working with AIG to continue enhancing the guest experience and to ensure the resort’s long-term success.”

The transaction is subject to Vermont administrative review and the final purchase price may change based on an agreement regarding earnings in this fiscal year.


Snow on Crested Butte

Vail Resorts buys big

Vail Resorts just got even bigger with the acquisition of four ski resorts. The Colorado-based owner of ski areas announced Monday morning that it has entered into a purchase agreement with Triple Peaks, the parent company of Okemo in Vermont, Mount Sunapee in New Hampshire, and more


Vail acquires Northstar-at-Tahoe for $63 million

In the continuing flurry of ski resort sales, a blockbuster dropped this week as Vail Resorts Inc. announced it has acquired Northstar-at-Tahoe Resort in North Lake Tahoe, Calif., for $63 million. Vail Resorts purchased the stock of the companies that operate Northstar-at-Tahoe more