Aspen / KSL acquired Mammoth Resorts

[thetrailboss]

Snowbasin would really fuel the idea that they are trying to compete with Vail, IMO.

Forget Snowbasin. How about SUN VALLEY? That has a lot more cache.

 

[abc]

Forget Snowbasin. How about SUN VALLEY? That has a lot more cache.

More cache? With which demographic?

 

[Glenn]

Top and bottom cement structures are still in place for the old Kidderbrook lift. The old lift line is still there since it mostly went up the Kidderbrook trail. There's a large deck over the top terminal cement structures. WHo knows, maybe some day they'll put in another lift there. I agree, that runout at the base of Kidderbrook can be brutal. It's tough when the snow is soft. And it's always a mix of skier abilities there.

 

[tumbler]

They are buying Deer Valley

 

[thetrailboss]

They are buying Deer Valley

Beat me to the punch:

As a valued guest, I want to be the first to let you know the latest news. The newly formed entity controlled by affiliates of KSL Capital Partners, LLC (“KSL”) and Henry Crown and Company (“HCC”) that in July joined Intrawest Resorts, Mammoth Resorts and Squaw Valley Ski Holdings has entered into an agreement with Deer Valley® to acquire the resort.
Over the last 36 years, Deer Valley has developed into one of the highest quality ski resorts in the country. This transaction puts the resort in a strong position to continue to grow as part of a portfolio of 12 other outstanding resorts. We are excited about the new opportunities this will create for our staff, our guests and the Park City community.
I know there will be questions about the purchase and why we entered into this agreement. For this reason, we have included a link to the press release that was sent to media as well as a list of your anticipated questions and answers.
Please know that KSL and HCC are committed to Deer Valley’s brand, providing exceptional service to our guests, as well as to the staff. They truly value the efforts and dedication from staff members in building this amazing, preeminent mountain resort.
I plan to stay on as President/General Manager serving in my current role at Deer Valley Resort with no anticipated changes, and I sincerely hope you share in my excitement as we enter this new phase in the evolution and growth of Deer Valley Resort.

 

[dlague]

There was no mention of Aspen but that is covered under Henry Crown and Company - the Crown family owns Aspen Skiing Company


This will help to clear the mud. This article is from about three weeks ago.

http://www.kslcapital.com/pressroom/pressarticle/1038

 

[dlague]

they also announced this and looks like they will pull out of the Mountain Collective

Because both resort companies have already put their season pass products on sale for next season (Intrawest’s MAX Pass and Aspen both solo and as part of Mountain Collective), no real changes in terms of access will be in place for the coming 2017-18 season. But going forward, this further ski industry consolidation will create the first serious competitor to Vail Resorts’ Epic Pass, with a similar geographic range of major ski resorts. By the following winter - barring any more purchases - Aspen should be able to offer a pass that will allow customers to ski at a dozen mountains from the East Coast to the Rockies to Tahoe, as well as Canada.

 

[dlague]

Somehow these two threads should be merged under something like All things KSL Capital Partners / Henry Crown & Company (Aspen Skiing Company)

 

[mbedle]

Where does this leave Solitude? Didn't Deer Valley purchase them in 2014?

 

[Jully]

Where does this leave Solitude? Didn't Deer Valley purchase them in 2014?

Solitude is not included in this deal. Seems odd as its owned by the DV partners and a lot of what drives business there is its association with DV and associated deals and such (or at least that was my understanding). Makes me wonder if the DV partners have something else in mind for Solitude or if it will be a separate transaction... idk.

There was the One Wasach proposal awhile ago.

 

[4aprice]

Solitude is not included in this deal. Seems odd as its owned by the DV partners and a lot of what drives business there is its association with DV and associated deals and such (or at least that was my understanding). Makes me wonder if the DV partners have something else in mind for Solitude or if it will be a separate transaction... idk.

There was the One Wasach proposal awhile ago.

Hopefully Boyne will step up to the plate and take Solitude, improve the connection and make it one with Brighton. That would provide good competition to the canyons on either side of BCC.

Alex

Lake Hopatcong, NJ

 

[Jully]

Hopefully Boyne will step up to the plate and take Solitude, improve the connection and make it one with Brighton. That would provide good competition to the canyons on either side of BCC.

Alex

Lake Hopatcong, NJ

That'd be pretty awesome indeed! It would absolutely provide a solid alternative.

 

[thetrailboss]

Where does this leave Solitude? Didn't Deer Valley purchase them in 2014?

My question as well.

Solitude is not included in this deal. Seems odd as its owned by the DV partners and a lot of what drives business there is its association with DV and associated deals and such (or at least that was my understanding). Makes me wonder if the DV partners have something else in mind for Solitude or if it will be a separate transaction... idk.

There was the One Wasach proposal awhile ago.

Huh? :blink: That seems odd. I would have thought that KSL would have wanted DV completely out of the game and out of the market. And I would have thought that DV would have just wanted to cash-out and walk away. Perhaps DV is working on a second attempt to sell Solitude to Boyne. The first go-round in 2013 or 2014 got close but Boyne couldn't get the money.

This also shows that KSL is interested in directly competing with Vail since Park City Mountain Resort is literally a rope line away from Deer Valley. Apparently KSL wasn't interested in Solitude....assuming it is not part of the deal.

 

[Jully]

Huh? :blink: That seems odd. I would have thought that KSL would have wanted DV completely out of the game and out of the market. And I would have thought that DV would have just wanted to cash-out and walk away. Perhaps DV is working on a second attempt to sell Solitude to Boyne. The first go-round in 2013 or 2014 got close but Boyne couldn't get the money.

Question: Is Solitude included in the buy?
Answer: No. Deer Valley partners will maintain ownership of Solitude Mountain Resort.

http://blog.deervalley.com/deer-val...ammoth-resorts-and-squaw-valley-ski-holdings/

I'd guess for a second deal as well, unless DV investors have other plans for Solitude or are trying to sell it to someone else (Boyne).

 

[dlague]

Brighton is owned by Och-Ziff Real Estate. I know Boyne operates the resort but Boyne's model seems to be more operational. While they have bought properties in the past like Big Sky and others, it seems like the MO these days is to operate. There are always possibilities.

I appears to me that the family that owned Deer Valley and Solitude may be trying to sell them separately to get more bang for the buck.

 

[mbedle]

My question as well.



Huh? :blink: That seems odd. I would have thought that KSL would have wanted DV completely out of the game and out of the market. And I would have thought that DV would have just wanted to cash-out and walk away. Perhaps DV is working on a second attempt to sell Solitude to Boyne. The first go-round in 2013 or 2014 got close but Boyne couldn't get the money.

This also shows that KSL is interested in directly competing with Vail since Park City Mountain Resort is literally a rope line away from Deer Valley. Apparently KSL wasn't interested in Solitude....assuming it is not part of the deal.

Didn't Dear Valley purchase Solitude in 2014, were they really trying to sell it right after purchasing it?

 

[slatham]

"Perhaps DV is working on a second attempt to sell Solitude to Boyne. The first go-round in 2013 or 2014 got close but Boyne couldn't get the money."

While the previous owns of Solitude may have tried selling to Boyne in '13 or '14, it wasn't DV trying to sell. They only bought Solitude in Oct '14.

 

[thetrailboss]

"Perhaps DV is working on a second attempt to sell Solitude to Boyne. The first go-round in 2013 or 2014 got close but Boyne couldn't get the money."

While the previous owns of Solitude may have tried selling to Boyne in '13 or '14, it wasn't DV trying to sell. They only bought Solitude in Oct '14.

Right. The DeSeelhorsts were trying to sell in that timeframe. DV bought it in October 2014.

And: http://blog.deervalley.com/deer-val...paign=DeerValleyKSL&utm_content=DeerValleyKSL

 

[thetrailboss]

And Solitude is now worth more than it was in 2014 because of DV's improvements including a new Summit HSQ and a new Midmountain Lodge.

 

[mbedle]

Right. The DeSeelhorsts were trying to sell in that timeframe. DV bought it in October 2014.

And: http://blog.deervalley.com/deer-val...paign=DeerValleyKSL&utm_content=DeerValleyKSL

Sorry - miss understood you, thought you were saying that DV was trying to sell to Boyne. Given everything that DV put into the place, I highly doubt that Boyne is in a position to purchase it. Especially if they couldn't get funding for it before at a cheaper price.