Resort consolidation ratchets up a notch as Aspen Skiing Co. and private equity firm KSL Capital Partners have paid a reported $1.5 billion for Intrawest. In the deal Aspen/KSL picks up Steamboat, Winter Park, Tremblant, Stratton, Snowshoe, Blue Mountain and (through partnership with KSL) Squaw Valley and Alpine Meadows, according to a story in the Denver Post.
Intrawest once ruled the resort real estate game, but has fallen on hard times recently. Guess, this is as good a deal as they could have hoped for and as far as we can tell it rarely matter who owns the resorts we ride. Mountains are mountains.
[Link: Denver Post]