Vail Resorts to purchase Colorado Mountain Express

BROOMFIELD —Vail Resorts announced Tuesday it has agreed to buy airport-shuttle company Colorado Mountain Express for $40.5 million.

The sale is expected to close in late fall.

“We’re obviously very familiar with Colorado Mountain Express, and we identified it as a good opportunity for us,” Vail Resorts President Rob Katz said.

Buying Colorado Mountain Express provides Vail Resorts with a way to affect people’s first and last impressions of their vacations, Katz said.

Company officials also believe that putting resort visitors into vans and luxury SUVs is also a way to keep cars off congested Interstate 70, Katz said.

“By combining the great effort already put forward by the entire CME team with the resources of Vail Resorts, we are confident we will be able to even further improve the transportation experience for all of CME’s guests,” Katz said in a press statement.

CME’s familiar white vans with ski racks on back make several trips daily between Denver International Airport and Summit County, as well as to Vail and Aspen.

Given the eyebrow-raising cost of gasoline, it might seem an odd time to buy a company with a 250-vehicle fleet.

But, Katz said, bringing Colorado Mountain Express into Vail Resorts provides the potential for a lot of efficiency, from driver recruitment to insurance to being able to save a few cents per gallon on fuel bought in bulk.

“Those efficiencies can help keep it cost-competitive,” Katz said.

Despite its acquisition by Vail Resorts, Colorado Mountain Express is still going to take passengers to other resorts, Katz said, so the company needs to remain competitive with other companies providing similar services.

Colorado Mountain Express Chief Executive Officer Jay Ufer said in a press statement that he looks forward to working with Vail Resorts.

“I am excited to have the opportunity to combine Vail Resorts’ commitment to the guest experience with CME’s commitment to reliable access to the resorts we serve.
Vail Resorts will provide CME with expanded opportunities for growth in the hospitality industry,” Ufer said.

Katz said Vail Resorts intends to focus on the “hospitality” part of Colorado Mountain Express.

“It’s not a transportation company,” Katz said. “It’s a service to get people to Colorado ski resorts.”

<i>Vail Daily News Business Editor Scott N. Miller can be reached at (970) 748-2930 or smiller@vaildaily.com.</i>