Ski resort consolidation continues as Aspen Skiing Co. affiliate acquires Deer Valley Resort in Utah
August 21, 2017
The new ski conglomerate affiliated with Aspen Skiing Co. made another move Monday by reaching an agreement to acquire Deer Valley Resort in Utah.
The new ski company, which is still unnamed, said the purchase is anticipated to be completed prior to the 2017-18 ski season. Deer Valley, regarded as one of the more luxurious resorts in the ski industry, is the 13th resort to get folded into the company.
The new ski firm was created earlier this year by Henry Crown and Co. and KSL Capital Partners to purchase Intrawest Resort Holdings and Mammoth Resorts. Those deals were finalized in July.
The new firm is affiliated with Aspen Skiing Co., which is owned separately by the Crown family of Chicago.
"Deer Valley Resort is one of the pre-eminent mountain resorts in the world and is a tremendous addition to our existing portfolio," David Perry, president and chief operating officer of the new ski conglomerate, said in a prepared statement. "Prior to this acquisition, we were able to offer our guests exceptional experiences throughout most of North America's major ski regions, but we did not have a resort in Utah, a state that is renowned for great skiing and mountain town life."
Bob Wheaton, Deer Valley president and general manager, said joining a company with 12 other ski resorts in its portfolio will benefit Deer Valley's guests, staff and community of Park City.
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"Joining this portfolio of resorts will enable Deer Valley to build upon its outstanding traditions and further enhance our ability to provide our guests with a world-class skiing experience. I look forward to working with them as we develop our vision for the future of the resort and the new company," Wheaton said.