Vail Resorts take over Perisher
THE American resort Vail which is located in Colorado, has become the proud owners of Perisher ski resort in a deal that came in a littler under $180 million.
With the acquisition of Perisher, Vail Resorts has become the only mountain resort company to operate world class ski resorts on two continents.
The acquisition includes the resort areas of Perisher Valley, Smiggin Holes, Blue Cow and Guthega.
The ski school, accommodation lodgings, hospitality, retail/rental and transportation operations were also included in the deal.
Perisher holds a longterm lease and licence with the New South Wales Government under the National Parks and Wildlife Act, which expires in 2048 with a 20 year renewal option.
The acquisition will be a win for international snow lovers with ‘epic’ benefits being extended already between the two resorts for existing ‘Freedom’ pass holders.
On the Perisher Freedom Pass with Epic Benefits guests will be able to ski and ride at Vail, Beaver Creek, Breckenridge, Keystone and Arapahoe Basin in Colorado, Park City and Canyons in Utah, and Heavenly, Northstar and Kirkwood in the Lake Tahoe region of California and Nevada.
Chairman and CEO of Vail Resorts, Rob Katz said that venture was a significant milestone for the company.
“This acquisition is part of Vail Resorts’ continued strategy to drive season pass sales and build loyalty with guests from around the world.
“We see this as a ground-breaking acquisition that will dramatically enhance the connection between our company and Australian skiers and riders and we also see the acquisition as a natural fit, as Perisher is the Australian leader in innovation and guest experience - both hallmarks of Vail Resorts,” Mr Katz said.
STRONG CONNECTION: American ski resort Vail has acquired Perisher in a deal that will enable local skiers the opportunity to take advantage of great North American deals.