Vail Completes Stowe Purchase
COMPLETES ACQUISITION OF STOWE MOUNTAIN RESORT
SAM Magazine—Broomfield, Colo., June 9, 2017—Vail Resorts closed
on its acquisition of Stowe Mountain Resort in Vermont on Wednesday. Stowe,
VR’s first East Coast property, is also now included on the company’s $859 Epic
Pass for the 2017-18 winter season.
Resorts acquired Stowe from Mt. Mansfield Company, Inc., a wholly owned
subsidiary of American International Group, Inc. (AIG). The original purchase
price of $50 million was reduced to $41 million after adjustments for certain
agreed upon terms, including a reduction in the price by the amount that the
resort’s EBITDA exceeded capital expenditures for the period from Nov. 1, 2016
through closing. The resort is expected to generate incremental annual resort
reported EBITDA in excess of $5 million during its first 12 months of operation
following the acquisition.
part of the transaction, Vail Resorts acquired all of the assets related to the
mountain operations of the resort, including base area skier services (food and
beverage, retail and rental, lift ticket offices, and ski and snowboard school
facilities) at Mount Mansfield and Spruce Peak.