Alterra Mountain Company announced Monday that it has entered into an agreement to purchase Arapahoe Basin in Colorado from Canadian real estate firm Dream Unlimited Corp.
The transaction is expected to close later in 2024, and is subject to certain closing conditions, including regulatory approvals. Terms of the transaction were not disclosed. More details will be released once the transaction has closed, according to Alterra.
A-Basin, as the big-mountain destination is known locally, is located 68 miles from Denver and has one of the longest ski and snowboard seasons in Colorado, often running through the 4th of July.
The resort sits on the Continental Divide in the Rockies and offers some of North America’s highest-elevation and most-challenging terrain.
Not the First Corporate Owners
Chief Operating Officer Alan Henceroth, who has been with A-Basin for 36 years and has been the steward of the mountain’s culture, will stay on to lead the resort. He will oversee daily operations and leadership of future capital improvement plans, including expanding parking and snowmaking.
“A-Basin has a long-time and loyal following among skiers and riders in Colorado and we care deeply about the culture of A-Basin that brings them back,” Henceroth said. “We have worked with Alterra Mountain Company since 2019 when we joined the Ikon Pass community, and we have every faith that Alterra is committed to helping us maintain A-Basin’s authenticity.”
Photo by Lucas Herbert courtesy of Arapahoe Basin.
In an interview with The Daily, Henceroth pointed out that A-Basin has had corporate owners in the past, and “they’ve allowed us to be who we are.”
“A-Basin is more about the people, the employees, and the guests that hang out here in this very special place,” he said. “I don’t think it’s ever had much to do with anything corporate, even though we’ve been owned by large companies.”
As far as any major changes to the mountain in the near future, Henceroth said people should not worry.
“I have every bit of confidence that it’s just going to be as great as it’s always been, if not better,” he added.
‘Legendary for a Reason’
Jared Smith, president and CEO of Alterra, said that A-Basin was a key addition to the Ikon Pass in 2019.
“Arapahoe Basin is considered legendary for a reason,” he added in a release. “From its unparalleled terrain to its commitment to sustainability, A-Basin has a team that has a passion and commitment for this unique place and its traditions, making it an ideal fit for the Alterra Mountain Company family.”
Over the last 27 years, owner Dream Unlimited, with the Arapahoe Basin management team, expanded the ski area to 1,428 acres, replaced all the lifts and most buildings, and opened two high-elevation restaurants.
A-Basin’s terrain includes Pallavicini, the East Wall, and the Montezuma Bowl, plus the Beavers and the Steep Gullies, which have been added in recent years as the mountain expanded.
Photo by Ian Zinner, courtesy of Arapahoe Basin.
In 2018, A-Basin pledged to be carbon neutral by 2025 and, recently, the resort made a step toward that goal by officially using 100% renewable electricity.
When it comes to the Ikon Pass, there are no changes to ‘23/’24 winter access at this time.
The addition of Arapahoe Basin will bring Alterra’s portfolio to 18 year-round mountain destinations throughout North America.
Alterra resorts are spread throughout seven states and three Canadian provinces: Steamboat and Winter Park Resort in Colorado; Palisades Tahoe, Mammoth Mountain, June Mountain, Big Bear Mountain Resort, and Snow Valley in California; Sugarbush and Stratton in Vermont; Snowshoe in West Virginia; Tremblant in Quebec, Blue Mountain in Ontario; Crystal Mountain in Washington; Schweitzer in Idaho; Deer Valley Resort and Solitude Mountain Resort in Utah; and CMH Heli-Skiing & Summer Adventures in British Columbia.
Bart Schaneman can be reached at bart@ordaily.outdoorretailer.com.
