Vail Resorts, Inc. (NYSE: MTN) today announced that the Company has closed on its acquisition of Stevens Pass Resort in Washington from Ski Resort Holdings, LLC, an affiliate of Oz Real Estate. The final purchase price, after adjustments for certain agreed-upon terms, was $64 million. Less than 85 miles from Seattle and renowned for its plentiful snowfall, the resort sits on the crest of the Cascade Range within two national forests – the Mt. Baker-Snoqualmie National Forest on the west side, and the Wenatchee National Forest on the east.
The 2018-19 Epic Pass, Epic Local Pass, Epic Australia Pass, and Military Epic Pass now include unlimited and unrestricted access to Stevens Pass; the Epic 7 Day and Epic 4 Day Passes now offer seven and four unrestricted days respectively. Additionally, Whistler Blackcomb’s 5 Day and 10 Day EDGE Cards, which are available to residents of Washington State and Canada, allow pass holders to use two of five, or three of 10 days at Stevens Pass or any other Vail Resorts’ owned and operated ski resorts.
“We are thrilled to officially welcome Stevens Pass to our family of world-class resorts and to offer pass holders another exceptional, unique experience in North America’sPacific Northwest,” said Kirsten Lynch, chief marketing officer of Vail Resorts.
Today’s acquisition closure on Stevens Pass is the first of two acquisitions announced in June 2018 to be finalized. In the second, separate transaction, which is expected to close later this summer, Vail Resorts announced an agreement to purchase Triple Peaks, LLC, the parent company of Okemo Mountain Resort in Vermont, Mount Sunapee Resort in New Hampshire, and Crested Butte Mountain Resort in Colorado. After the two transactions close, Vail Resorts plans to invest $35 million over the next two years across the four resorts to continue to elevate the guest experience.
Monday, Sept. 3, 2018 is the final day to secure the lowest guaranteed price for Epic Passand EDGE Card products. For additional information or to purchase season passes, visit www.epicpass.com.
2018-19 season pass options for Stevens Pass skiers and snowboarders:
- Epic Pass™: For $899, the Epic Pass offers unlimited, unrestricted access to 19 mountain resorts plus additional access to 46 more, including 20 new mountains for the 2018-19 season. Discover 65 of the world’s premier resorts throughout the United States, Canada, Australia, Japan, France, Switzerland, Italy, and Austria. The Epic Pass pays for itself in just over four days of skiing or snowboarding. Enjoy unlimited, unrestricted access to Vail, Beaver Creek, Breckenridge, Keystone, Crested Butte* and Arapahoe Basin in Colorado; Park City in Utah; Heavenly, Northstar and Kirkwood at Lake Tahoe; Stowe and Okemo* in Vermont; Mount Sunapee* in New Hampshire; Stevens Pass in Washington; Afton Alps in Minnesota; Mt. Brighton in Michigan; Wilmot Mountain in Wisconsin; Whistler Blackcomb in Canada; and Perisher in Australia for the 2019 season. New for the 2018-19 season, Epic Pass holders will receive seven days of skiing or snowboarding with no blackout dates at both Telluride in Colorado and at Resorts of the Canadian Rockies (Fernie Alpine Resort, Kicking Horse Mountain Resort and Kimberley Alpine Resort in British Columbia, Nakiska in Alberta, and Mont-Sainte Anne and Stoneham in Quebec), in addition to five total consecutive days with no blackout dates at Hakuba Valley’s nine ski resorts in Japan. The Epic Pass also grants limited access to Les 3 Vallées, Paradiski and Tignes-Val D’Isere in France; 4 Vallées in Switzerland; Arlberg in Austria and Skirama Dolomiti in Italy. A child pass (ages five to 12) is $469.
- Epic Local Pass™: For $669, guests receive access to 27 resorts, including unlimited, unrestricted access to Breckenridge, Keystone, Crested Butte*, Okemo*, Mount Sunapee*, Stevens Pass, Arapahoe Basin, Wilmot, Afton Alps and Mt. Brighton with limited restrictions at Park City, Heavenly, Northstar, Kirkwood, and Stowe, plus a combined total of 10 days at Vail, Beaver Creek, and Whistler Blackcomb with holiday restrictions. The Epic Local Pass pays for itself in just over three days. New for the 2018-19 season, Epic Local Pass holders will receive access to 13 new mountains including Crested Butte, Okemo, Mount Sunapee, Stevens Pass plus five total consecutive days with no blackout dates at Hakuba Valley’s nine ski resorts in Japan. A child pass (ages five to 12) is $359.
- Epic 7-Day Pass™: For $669, receive a total of seven unrestricted days valid at Vail, Beaver Creek, Breckenridge, Telluride, Keystone, Crested Butte* and Arapahoe Basin in Colorado; Park City in Utah; Heavenly, Northstar and Kirkwoodat Lake Tahoe; Stowe and Okemo* in Vermont; Mount Sunapee* in New Hampshire; Stevens Pass in Washington; Whistler Blackcomb, Fernie Alpine Resort, Kicking Horse Mountain Resort, Kimberley Alpine Resort, Nakiska, Mont-Sainte Anne and Stoneham in Canada; plus an additional 7 free days total at Afton Alps in Minnesota; Mt. Brighton in Michigan; Wilmot Mountain in Wisconsin. After the seven days, regardless of the resort at which they were redeemed, pass holders can get 20 percent off additional lift tickets at Telluride. A child pass (ages five to 12) is $359.
- Epic 4-Day Pass™: For $439, a convenient option for a short ski trip as the pass pays for itself in just over two days and includes a total of four unrestricted days valid at Vail, Beaver Creek, Breckenridge, Telluride, Keystone, Crested Butte* and Arapahoe Basin in Colorado; Park City in Utah; Heavenly, Northstar and Kirkwoodat Lake Tahoe; Stowe and Okemo* in Vermont; Mount Sunapee* in New Hampshire; Stevens Pass in Washington; Whistler Blackcomb, Fernie Alpine Resort, Kicking Horse Mountain Resort, Kimberley Alpine Resort, Nakiska, Mont-Sainte Anne and Stoneham in Canada; plus an additional 4 free days total at Afton Alps in Minnesota; Mt. Brighton in Michigan; Wilmot Mountain in Wisconsin. After the four days, regardless of the resort at which they were redeemed, pass holders can get 20 percent off additional lift tickets at Telluride. A child pass (ages five to 12) is $239.
- 10 Day Whistler Blackcomb EDGE Card: Exclusively available to residents of Canada and Washington state, the 10 Day Whistler Blackcomb EDGE Card allows skiers and snowboarders to ski ten days during the 2018-19 season from only CAD$729 (Adult), with holiday restrictions, or CAD$799 (Adult) for unrestricted access. 10 Day EDGE Card holders have the option to use three of the ten days at any of Vail Resorts’ owned and operated ski resorts now including Stevens Pass in Washington State. Additionally, EDGE Cardholders receive exclusive discounts on lodging, up to 20 percent off at select retail locations, CAD$35 off select Snow School programs and more. Guests who purchase a 2018-19 EDGE Card by Sept. 3, 2018 receive one PEAK 2 PEAK 360 Sightseeing ticket for use this summer.
- 5 Day Whistler Blackcomb EDGE Card: Exclusively available to residents of Canada and Washington state, the 5 Day Whistler Blackcomb EDGE Card allows skiers and snowboarders to ski five days during the 2018-19 season from only CAD$419 (Adult), with holiday restrictions, or CAD$459 (Adult) for unrestricted access. 5 Day Whistler Blackcomb EDGE Card holders have the option to use two of the five days at any of Vail Resorts’ owned and operated ski resorts now including Stevens Pass in Washington State. Additionally, EDGE Cardholders receive exclusive savings on lodging, up to 20 percent off at select retail locations, CAD$35 off select Snow School programs, and more. Guests who purchase a 2018-19 EDGE Card by Sept. 3, 2018, receive one PEAK 2 PEAK 360 Sightseeing ticket for use this summer.
Vail Resorts will continue to honor previously sold 2018-19 season pass products for Stevens Pass. Pending the acquisition close of Triple Peaks, LLC, Vail Resorts will continue to honor previously sold 2018-19 season pass products for Okemo, Mount Sunapee and Crested Butte.
*Resort access and benefits at Okemo, Crested Butte and Mount Sunapee are pending closure of the transaction to acquire Triple Peaks, LLC.
About Vail Resorts, Inc.
Vail Resorts, Inc., through its subsidiaries, is the leading global mountain resort operator. Vail Resorts’ subsidiaries operate 11 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; Whistler Blackcomb in British Columbia, Canada; Perisher in Australia; Stowe in Vermont; Wilmot Mountain in Wisconsin; Afton Alps in Minnesota and Mt. Brighton in Michigan. Vail Resorts 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 is a publicly held company traded on the New York Stock Exchange (NYSE: MTN). The Vail Resorts company website is www.vailresorts.com and consumer website is www.snow.com.
About Oz Real Estate
Oz Real Estate, the real estate platform at Oz Management, was founded by Steven E. Orbuch in 2003 to make investments in real estate and real estate related assets across North America and Europe. The principals of Oz Real Estate have invested in over $9.0 billion of private real estate assets, including direct equity investments, preferred equity structures, mezzanine financing, and senior loans. Oz Real Estate’s portfolio has included over 20,000 hotel rooms, over 30,000 multifamily and residential units, and over 20 million square feet of retail and office properties. In addition, Oz Real Estate has developed expertise in certain niche real estate asset classes including gaming, healthcare, senior housing, cellular towers, ski resorts, and land development. For more information on Oz Real Estate, please see ozm.com.
