Aspen Skiing Company and KSL acquire Mammoth Resorts following Intrawest deal
A mere 48 hours after acquiring Intrawest, Aspen Skiing Company and KSL Capital Partners have purchased Mammoth Resorts, which includes Mammoth Mountain, June Mountain, Snow Summit and Bear Mountain. It’s been an incredible winter for resorts in California, with Mammoth having already received 586 inches of snow, which has allowed it to schedule operations through the Fourth of July.
Terms of the transaction have not yet been disclosed, but the deal is expected to be finalized by the end of the third quarter of 2017.
“Mammoth has been Southern California’s mountain home since 1948,” said Rusty Gregory, Chairman and CEO of Mammoth Resorts. “After doubling down on our offerings to Southern California with the purchase of Snow Summit and Bear Mountain in 2014, joining this new venture led by Aspen and KSL is the next logical chapter in the story of Mammoth Resorts. This new platform, built around a collective passion for the mountains and our commitment to the people who visit, work and live there, is exactly what the ski resort business needs. I am excited about the future prospects for Mammoth Resorts, our people and this new enterprise.”
For Aspen Skiing Company and KSL, the acquisition adds four new resorts, with Mammoth serving as the centerpiece, to a portfolio that, as of Monday, includes Aspen Mountain, Aspen Highlands, Buttermilk, Snowmass, Squaw Valley Alpine Meadows, Winter Park, Steamboat, Blue Mountain (Ontario), Snowshoe Mountain, Stratton Mountain and Mont Tremblant.
“Mammoth is a special place. The landscape is spectacular, the mountain is phenomenal and the place is in constant motion. Whether it’s the vibrant park and pipe scene, the high quality alpine racing programs, or excellent mountain biking, Mammoth has it all,” said Mike Kaplan, CEO of Aspen. “At the same time, Bear and Snow Summit serve local skiers perhaps better than anyone in the industry with high quality skiing and riding right on the doorstep of Southern California. We couldn’t be more pleased to work with these extraordinary properties.”
As was the case in the Intrawest deal, the acquisition will not affect 2017-18 season passes for Mammoth Resorts.