Vail Resorts acquires two Australian resorts, including Down Under’s ‘Powder Capital’
Vail Resorts announced Thursday in a news release that the company has entered into an agreement to purchase the ski fields at Falls Creek Alpine Resort (“Falls Creek”) and Hotham Alpine Resort (“Hotham”) in Victoria, Australia.
Falls Creek, Victoria’s largest ski resort, features a variety of terrain including beginner and intermediate trails that are suited to families and first-timers. Considered the “Powder Capital” of Australia, Hotham is the only resort in the Southern Hemisphere where the village is located on top of the mountain, ensuring ski-in, ski-out opportunities from anywhere in the village.
The acquisition, which is subject to certain regulatory approvals, is expected to close prior to the commencement of the Australian snow season in June 2019.
“We are thrilled to welcome the guests and employees of both Falls Creek and Hotham into the Vail Resorts family and further strengthen our position in Australia, which is one of our most important international markets. The acquisition of the leading mountain resorts in Victoria is part of our continued strategy to drive season pass sales and build loyalty with guests from around the world,” said Rob Katz, chairman and chief executive officer of Vail Resorts, in the release. “After our success connecting with skiers in Sydney and across New South Wales since acquiring Perisher in 2015, we have a huge opportunity to create a deeper connection with Melbourne and broader Victorian skiers and riders.”
When the transaction closes, the 2019 Epic Australia Pass and 2018-19 Epic Pass will include unlimited, unrestricted access to Falls Creek and is expected to include unlimited, unrestricted access to Hotham, subject to certain approvals.
“Vail Resorts has a great track record in developing world-class resorts,” said Nick Mackenzie, Managing Director of Merlin Entertainments’ Midway division, in the release. “We’re confident that guests, employees and the surrounding communities of Hotham and Falls Creek will benefit from Vail Resorts’ expertise, investment and know-how, and we wish the teams every success for the future.”
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