Vail Resorts, which already own Colorado’s biggest resorts, and several biggies in California, announced today they are to buy up the East coast major resort of Stowe for $50million
This acquisition brings together the world’s leading mountain resort operator, with Stowe’s owners, who are major real estate developers.
Vail boss Rob Katz said:” “We’re thrilled to add Stowe Mountain Resort to our family.”
Douglas Tymins, president of AIG Global Real Estate, said, “Under Vail Resorts’ management, Stowe’s reputation as a premier ski destination will continue to grow.”
The deal is subject to Vermont administrative review. Vail Resorts say they will be retaining the vast majority of the resort’s year-round staff.
Vail Resorts say they look forward to integrating Stowe into its Epic Pass with its other acquisitions Vail-Beaver Creek, Breckenridge and Keystone in Colorado; Park City in Utah; Heavenly, Northstar and Kirkwood in Tahoe, California; and Whistler Blackcomb in Canada.