Monday, June 13, 2016

North America's Biggest Operators in the Ski Business (6): Vail Resorts

Vail Resorts is a publicly held company traded on the New York Stock Exchange (NYSE: MTN) located in Broomfield, Colorado.
Vail Resorts was founded as Vail Associates Ltd. by Pete Seibert and Earl Eaton in the early 1960s. Vail’s opening day was set for December 15, 1962.
In 1971, the company spent $4.4 million to purchase 2,200 acres of land ten miles down the road, which would later become the site of its Beaver Creek resort.In late 1976, Harry Bass was able to gain controlling interest in Vail Associates for $13 million.
In the summer of 1985, Vail Associates was purchased for $115 million by George Gillett, head of Gillett Holdings Inc.
The holding company filed for bankruptcy on June 25, 1991, and its eventual reorganization transferred the ownership of Vail Associates to Apollo Advisors, L.P. of New York, a company headed by Leon Black.
In 1996, Vail Associates signed a deal with Ralcorp Holdings, Inc., purchasing nearby Breckenridge and Keystone resorts and establishing Vail Resorts, Inc.
In February 1997, Vail Resorts became the first North American ski company to go public. The initial public offering raised $213 million. Investor Ronald Baron, Ralcorp Holdings, and Apollo Advisors together controlled about 75 percent of the company's stock.
In 2004, as a result of the distribution of shares from Apollo Ski Partners, the Shareholder Agreement between Apollo Ski Partners, Ralcorp Holdings and the Company is being terminated.
Vail Resorts, Inc. is the leading global mountain resort operator. The Company’s subsidiaries operate nine world-class mountain resorts and three urban ski areas, including Vail, Beaver Creek, Breckenridge and Keystone in Colorado; Park City in Utah; Heavenly, Northstar and Kirkwood in the Lake Tahoe area of California and Nevada; Perisher in Australia; Afton Alps in Minnesota, Mt. Brighton in Michigan and Wilmot Mountain in Wisconsin. The Company owns and/or manages a collection of casually elegant hotels under the RockResorts brand, as well as the Grand Teton Lodge Company in Jackson Hole, Wyo. Vail Resorts Development Company is the real estate planning and development subsidiary of Vail Resorts, Inc.
Vail Resorts own and operate more than 200 retail outlets, such as Helly Hansen, Patagonia, SmartWool, The North Face and our first very own branded retail store, Epic Mountain Gear, in Frisco, Colorado.
Colorado Mountain Express (CME) is the transportation subsidiary of Vail Resorts. The Company owns and manage a fleet of 71 Mercedes Sprinter vehicles.
In 2015-2016, Vail Resorts connected Park City Mountain Resort with the former Canyons Resort to unveil the largest ski resort in the United States (Park City) with 7,300 acres of skiing and riding.

The Epic Pass is probably the best value and most popular lift product in the industry offering guests access to 13 resorts in two countries and a savings of up to 35 percent as compared to single-day lift ticket pricing. The Epic Pass provides skiers and riders with unlimited, unrestricted access to Vail, Beaver Creek, Breckenridge, Keystone and Arapahoe Basin in Colorado; Park City in Utah; Heavenly, Northstar and Kirkwood in Lake Tahoe, Afton Alps in Minnesota, Mt. Brighton in Michigan, Wilmot Mountain in Wisconsin. and Perisher in Australia.

Vail Resorts Owned Mountain Resorts:

Vail Mountain, Colorado
Beaver Creek Resort, Colorado
Breckenridge Ski Resort, Colorado
Keystone Resort, Colorado
Park City Ski Area, Utah
Heavenly Mountain Resort, California/Nevada
Kirkwood Mountain Resort, California
Northstar-at-Tahoe, California. Resort is operated under long-term agreement by Vail Resorts, Inc. Resort is owned by CNL Lifestyle Properties.

Afton Alps, Minnesota
Mount Brighton, Michigan
Wilmot Mountain, Wisconsin

Perisher Ski Resort, Australia

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