Vail Resorts to Buy Stowe

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adkskier adkskier
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Vail Resorts to Buy Stowe

STOWE MOUNTAIN RESORT
TO JOIN THE VAIL RESORTS FAMILY
FEBRUARY 21, 2017
       





I’m incredibly excited to announce that we have entered into an agreement to acquire Stowe Mountain Resort from the Mt. Mansfield Company, Inc. (MMC), a wholly owned subsidiary of American International Group, Inc. (AIG). For details about this announcement, I encourage you to read the press release we distributed this morning.

Expanding our footprint into New England is an important opportunity to provide our guest base with access to a premier East Coast ski resort. Stowe is an outstanding addition to the Vail Resorts network offering – an iconic resort with a rich history, loyal guests and an outstanding on-mountain and base area experience.

As with past acquisitions, we are committed to building upon the level of excellence already offered at Stowe. With the investments in both mountain infrastructure and base area facilities made by AIG over the years, Stowe has truly become the premier resort for East Coast skiers and snowboarders. We look forward to working with AIG (who will retain real estate development, lodging and club operations) to enhance the guest experience and to ensure the resort’s and the local community’s long-term success.

As we will not close on this acquisition until later this spring, it will be business as usual for the remainder of the ski season with no changes to any of Stowe’s lift ticket or season pass products at this time. We look forward to integrating the resort into our Epic Season Pass offering and other season pass products for the 2017-2018 winter season (subject to the acquisition closing) and plan to provide those details in March when our pass products for next season are announced.

This is a significant milestone for our Company to provide an even more compelling offering to our East Coast guests. We will continue to communicate updates throughout the acquisition process and as we finalize integration plans. I can assure you that we will be phasing the Stowe integration to ensure that it does not interfere with the ongoing integration efforts at Whistler Blackcomb. I look forward to closing the transaction and working together to create the Experience of a Lifetime for our employees and guests at Stowe Mountain Resort in the years to come.
I Think, Therefore I Ski
Benny Profane Benny Profane
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Re: Vail Resorts to Buy Stowe

ha. Just skied there for the first time a few weeks ago' since I have a Mountain Collective pass, and wanted to use the two free days. Awesome mountain, and the healthiest "town" I have experienced at the base of a Vermont ski hill. Makes the Killington area look like a trailer park. Too bad it's another hour away from the NYC metro. Talked to a lot of people n the lifts and elsewhere about this sale as an icebreaker, and, some were happy, some not. Although I was there on a Monday and Tuesday, I was told that the weekends were really really crowded, and, as a former Epic pass holder in Colorado, I told them, haha, you ain't seen nothin' yet. It's going to be Youuuge!
Benny will consider this over the summer (buying the Epic pass), but, there are downsides. Vail resorts out west suck, because of crowds, then again, to have an 8-900 dollar pass that gives me a mountain the caliber of Stowe in the east, and just Abasin in the west is still an awesome deal. Screw Vail and Breck, I never skied those mountains when I lived out there. And, trust me, Whistler sounds cool, but, it's a long way away to travel for rain.
This is going to be a real game changer for the big Vermont mountains like Stratton, Killington, and Jay. The first few years are going to be great, due to less crowds, siphoned off by the evil dark side Vail Corp., but, considering that the northeast ski industry isn't exactly rolling around in cash, especially after last year, you could see some failures soon, or at least more consolidation.
funny like a clown
Milo Maltbie Milo Maltbie
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Re: Vail Resorts to Buy Stowe

This is gonna ruin Bomber's.

mm
ADmiKe ADmiKe
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Re: Vail Resorts to Buy Stowe

I wonder if this will impact the access to the very popular backcountry terrain at Mansfield? I don't know much about it but I think you access a lot of it from the resort side?

Rj1972 Rj1972
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Re: Vail Resorts to Buy Stowe

Interestingly, Vail did not acquire some of the the real estate/lodging, including undeveloped land.
ScottyJack ScottyJack
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Re: Vail Resorts to Buy Stowe

Fail!
I ride with Crazy Horse!
x10003q x10003q
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Re: Vail Resorts to Buy Stowe

In reply to this post by Benny Profane
Benny Profane wrote
ha. Just skied there for the first time a few weeks ago' since I have a Mountain Collective pass, and wanted to use the two free days. Awesome mountain, and the healthiest "town" I have experienced at the base of a Vermont ski hill. Makes the Killington area look like a trailer park. Too bad it's another hour away from the NYC metro. Talked to a lot of people n the lifts and elsewhere about this sale as an icebreaker, and, some were happy, some not. Although I was there on a Monday and Tuesday, I was told that the weekends were really really crowded, and, as a former Epic pass holder in Colorado, I told them, haha, you ain't seen nothin' yet. It's going to be Youuuge!
Benny will consider this over the summer (buying the Epic pass), but, there are downsides. Vail resorts out west suck, because of crowds, then again, to have an 8-900 dollar pass that gives me a mountain the caliber of Stowe in the east, and just Abasin in the west is still an awesome deal. Screw Vail and Breck, I never skied those mountains when I lived out there. And, trust me, Whistler sounds cool, but, it's a long way away to travel for rain.
This is going to be a real game changer for the big Vermont mountains like Stratton, Killington, and Jay. The first few years are going to be great, due to less crowds, siphoned off by the evil dark side Vail Corp., but, considering that the northeast ski industry isn't exactly rolling around in cash, especially after last year, you could see some failures soon, or at least more consolidation.
Thanks for the info.

I think Vail buying Stowe will have less of an effect on the other large Eastern resorts than you think. People who choose Killington or the places south of Killington are not all of a sudden want to add hours of driving time to ski crowded Stowe every weekend. Stowe is about 1.5 hr longer drive than Killington and 2.5 longer drive than Gore, for me, coming from north NJ.  I understand the western ski connection, but weekend warriors with kids can be  locked in to their current situations with lodging, friends, ski school programs, and driving time.

Benny Profane Benny Profane
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Re: Vail Resorts to Buy Stowe

x10003q wrote
Benny Profane wrote
ha. Just skied there for the first time a few weeks ago' since I have a Mountain Collective pass, and wanted to use the two free days. Awesome mountain, and the healthiest "town" I have experienced at the base of a Vermont ski hill. Makes the Killington area look like a trailer park. Too bad it's another hour away from the NYC metro. Talked to a lot of people n the lifts and elsewhere about this sale as an icebreaker, and, some were happy, some not. Although I was there on a Monday and Tuesday, I was told that the weekends were really really crowded, and, as a former Epic pass holder in Colorado, I told them, haha, you ain't seen nothin' yet. It's going to be Youuuge!
Benny will consider this over the summer (buying the Epic pass), but, there are downsides. Vail resorts out west suck, because of crowds, then again, to have an 8-900 dollar pass that gives me a mountain the caliber of Stowe in the east, and just Abasin in the west is still an awesome deal. Screw Vail and Breck, I never skied those mountains when I lived out there. And, trust me, Whistler sounds cool, but, it's a long way away to travel for rain.
This is going to be a real game changer for the big Vermont mountains like Stratton, Killington, and Jay. The first few years are going to be great, due to less crowds, siphoned off by the evil dark side Vail Corp., but, considering that the northeast ski industry isn't exactly rolling around in cash, especially after last year, you could see some failures soon, or at least more consolidation.
Thanks for the info.

I think Vail buying Stowe will have less of an effect on the other large Eastern resorts than you think. People who choose Killington or the places south of Killington are not all of a sudden want to add hours of driving time to ski crowded Stowe every weekend. Stowe is about 1.5 hr longer drive than Killington and 2.5 longer drive than Gore, for me, coming from north NJ.  I understand the western ski connection, but weekend warriors with kids can be  locked in to their current situations with lodging, friends, ski school programs, and driving time.
I've read more than once that the average annual day count for most skiers is maybe around twelve. Yup, not much. So, you do the math. Mr. And Mrs. Blue Trail Gaper with the 2.5 in tow in the back seat of the X3 can justify this purchase easily with a week at Stowe and a week in Vail, two mountains tailor made for them, and, what does that work out to? About 75 bucks a day ticket? Not bad, in today's world.
Vail may be Evil, but, they have figured out the market. Go to Breck out west, even on a weekday. People love that place. Like, way way too many people. Their stock has tripled in very short time. They're doing something right, and they could care less about serious skiers.
funny like a clown
Z Z
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Re: Vail Resorts to Buy Stowe

In reply to this post by x10003q
x10003q wrote
I think Vail buying Stowe will have less of an effect on the other large Eastern resorts than you think. People who choose Killington or the places south of Killington are not all of a sudden want to add hours of driving time to ski crowded Stowe every weekend. Stowe is about 1.5 hr longer drive than Killington and 2.5 longer drive than Gore, for me, coming from north NJ.  I understand the western ski connection, but weekend warriors with kids can be  locked in to their current situations with lodging, friends, ski school programs, and driving time.
X  you are only looking at this from your NYC / NJ centric viewpoint.

Lets remember that the bigger market for New England skiing is well -  in New England.  Nobody is coming from Boston to ski the Cats or Gore though we do get some at WF.  According to Google Maps Killington is 2:52 from Boston and Stowe is 3:09 so given that for very minor difference and less crowded better skiing mountain people are going to go Stowe and Epic.  

Vail / Epic is going to own New England in very short order maybe 3 years max.  This is going to cause a massive wave or take overs and buy outs as every ski area in VT, NH and Maine are going to have to join a bigger team post haste.  By the end there is only likely going to be at most 3 operators of ski areas in New England - EPIC, Powdr, and one other that is either going to be formed or will rise above the others (plus of course the state owned in NH).  Sugarbush and Okemo are the next ones that I think will have to pick a team and get bought.  For NY State they cant buy WF, Gore or Bell but I would think they would be taking a bead on Windham which fits super well with the target demographics.  They buy that and then the NYC / NJ market goes to Epic as well particulary if they score some more areas in VT in short order like Okemo.

Like the Borg in the Star Trek the next gen you can't stop Epic and it will assimilate the ski industry over time.
"It is better to go skiing and think of God, than go to church and think of sport."
Artic Explorer Fridtjof Nansen
PeeTex PeeTex
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Re: Vail Resorts to Buy Stowe

Coach Z wrote
For NY State they cant buy WF, Gore or Bell
They may not be able to buy the land but they don't own the land at Vail either. I would not be at all surprised if - just as they did with the food concessions, NYS farms out the operations of the ski hills in the future. Moving the operations from the DEC to ORDA was the first step in that direction and it has been moving slowly towards that end state.
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