Vail Closes Vermont Mountain Resort Acquisition
- Jun 12, 2017
Vail Resorts has acquired Stowe Mountain Resort, an iconic East Coast ski destination in Stowe, Vt., for $41 million, from Mt. Mansfield Co Inc., a wholly owned subsidiary of American International Group Inc.
Stowe becomes Vail’s first-ever resort on the East Coast and its 13th overall ski property. The resort will now be included on the 2017-2018 winter EPIC pass, a $859 season pass that offers customers access to 45 resorts across the world.
The acquisition included all of Stowe’s operations, which consists of food and beverage, retail and rental, lift ticket offices and ski and snowboard school facilities at Mount Mansfield and Spruce Peak. According to a Vail company report, Stowe is forecast to bring in more than $5 million in revenue during its first 12 months of operation, following the acquisition.
“We are thrilled to officially welcome Stowe to our family of world-class resorts, and to offer our Epic Pass, Epic Local, Epic 7-Day, and Epic 4-Day Pass holders exceptional experiences,” Kirsten Lynch, Vail Resorts’ CMO, said in a prepared release. “With the addition of Stowe, the Epic Pass provides guests access to the East Coast’s most iconic skiing, as well as unlimited, unrestricted access to the best of the West—including Vail, Breckenridge, Park City and Whistler Blackcomb, among many additional world-renowned destination resorts throughout North America.”
EPIC Pass Portfolio
Also included in the Epic pass are, Beaver Creek, Breckenridge, Keystone and Arapahoe Basin in Colorado; Whistler Blackcomb in Canada; Park City in Utah; Heavenly, Northstar and Kirkwood at Lake Tahoe; Perisher in Australia; Afton Alps in Minnesota; Mt. Brighton in Michigan and Wilmot Mountain in Wisconsin. There’s also limited access to 30 European ski resorts including Verbier and Les 4 Vallées in Switzerland, Les 3 Vallées in France; Arlberg in Austria; and Skirama Dolomiti Adamello Brenta in Italy.
The company announced that Bobby Murphy will take over as vice president and general manager of Stowe, replacing current president Barry Pius.
“Throughout his career, Bobby has played an integral role for cultivating guest services, developing ski and snowboard school experiences and for elevating resort operations,” Pat Campbell, Vail Resorts’ mountain division president, said in prepared remarks. “He brings significant industry experience that will benefit both the resort and the greater local community. I’m very pleased to see Bobby in this role and confident he will contribute incredible leadership to Stowe.”