Ru­mours con­tinue re­gard­ing Vail Re­sorts takeover

Alpine Observer - - News -

By STRUAN JONES

NO fur­ther in­for­ma­tion has come to light re­gard­ing the sus­pected takeover of the Mount Hotham and Falls Creek Ski­ing Com­pa­nies by Vail Re­sorts, de­spite on­go­ing spec­u­la­tion.

A Fair­fax me­dia re­port from De­cem­ber 20 es­ti­mated the deal at $120 mil­lion, as the New York-Listed Vail Re­sorts re­port­edly looks to take over the two Vic­to­rian Re­sorts, cur­rently man­aged by Bri­tish com­pany Mer­lin En­ter­tain­ments.

In a state­ment on their cor­po­rate web­sites, Falls Creek and Mount Hotham Re­sort Man­age­ment made sim­i­lar state­ments, say­ing they “are un­able to con­firm if this [the of­fer] has hap­pened.”

Vail Re­sorts al­ready owns 15 ski fields across the US, Canada and Aus­tralia, in­clud­ing Aus­tralia’s largest ski re­sort, Per­isher in New South Wales, which it pur­chased in 2015.

In re­sponse to an Alpine Ob­server en­quiry, a Vail Re­sorts spokes­woman, Johnna Mus­cente de­clined to com­ment.

“We do not com­ment on or spec­u­late about ac­qui­si­tion ru­mours,” she said.

The Ob­server also con­tacted Mer­lin En­ter­tain­ments and re­ceived a sim­i­lar re­sponse from spokes­woman Kristy Brown.

Ac­cord­ing to the De­cem­ber 20 me­dia re­port, the of­fer is con­sid­ered to be worth 10-times the an­nual earn­ings of the ski re­sorts, and would bring the 450-hec­tre Falls Creek and the 320-hec­tre Mount Hotham into the net­work of re­sorts ac­ces­si­ble with Vail’s Epic Pass.

While Falls Creek doesn’t specif­i­cally tar­get over­seas vis­i­tors to the re­sort, it is be­lieved Vail Re­sorts may be look­ing to the fu­ture of ski­ing in Aus­tralia as a mar­ket for Chi­nese vis­i­tors.

With China to host the 2022 Win­ter Olympics, win­ter sports is boom­ing in that coun­try, and an in­cred­i­ble 646 re­sorts have been built in the last two decades, ac­cord­ing to an ABC re­port from Fe­bru­ary 2018, mean­ing a lot more skiers with am­bi­tions to ski abroad.

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.