Intrawest affiliate aquires Deer Valley Resort in Utah
The yet named entity controlled by affiliates of KSL Capital Partners, LLC that joined Intrawest Resorts Holdings, Inc, which owns Winter Park Resort, in July announced Monday that they entered into a definitive agreement to acquire Deer Valley Resort in Park City, Utah.
“Deer Valley Resort is one of the preeminent mountain resorts in the world and is a tremendous addition to our existing portfolio,” said David Perry, president and chief operating officer of the joint venture in a statement. “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 renowned for great skiing and mountain town life.”
The move takes place just months after Aspen Skiing Co. and KSL Capital Partners acquired Intrawest, which owns Steamboat Springs and a number of other resorts in the U.S. and Canada along with Winter Park, in a $1.5 billion dollar deal.
Financial terms of the Deer Valley agreement haven’t been disclosed, but the deal is anticipated to close prior to the 2017/18 ski season.
Deer Valley Resort offers 2,026 acres of alpine skiing, 21 chairlifts, over a hundred runs, six bowls, 12 restaurants and 300 annual inches of powder.
The press release also said that the joint venture is currently working on a new brand launch which will take place before the ski season.
“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,” said Bob Wheaton, president and general manager. “I look forward to working with them as we develop our vision for the future of the resort and the new company.”
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