EVERETT — The Stevens Pass ski area, a 1,100 acre mountain resort, is expected to change hands this summer.
Vail Resorts Inc., a publicly traded ski-area operator, has entered into an agreement to buy Stevens Pass Mountain Resort from Ski Resort Holdings for $67 million.
The deal, expected to close this summer, is subject to closing terms and regulatory approval, according to a news release.
In a separate deal, Vail Resorts, based in Broomfield, Colorado, also said Monday that it is acquiring Triple Peaks, the parent company of Crested Butte Mountain Resort in Colorado, Mount Sunapee Resort in New Hampshire and Okemo Mountain Resort in Vermont.
Vail said it plans “to retain the vast majority of each resort’s employees” and “will continue in the ordinary course of business,” the company said.
The company will honor previously sold 2018-19 season passes for Stevens Pass, Okemo, Mount Sunapee and Crested Butte, according to Vail’s website.
The popular Stevens Pass ski area, 50 miles east of Everett on U.S. 2, sits on the crest of the Cascade mountain range within two national forests — Mount Baker-Snoqualmie on the west and Wenatchee on the east.
The resort operates three lodges and about a dozen chairlifts.
Since opening in 1937, the 1,125-acre ski area has been a popular winter destination for skiers and snowboarders. It also offers summer hiking, camping and biking activities, too.
When the deals close, Vail said, it plans to invest $35 million across the four resorts, including Stevens Pass, over the next two years. It did not say how much it will invest in Stevens Pass.
Vail’s holdings include Whistler Blackcomb in British Columbia, Vail Mountain in Colorado and Park City Mountain Resort in Utah.
Whistler Blackcomb Edge Card holders will be able to use any of their U.S. days at Stevens Pass, subject to restrictions, the company said.
Vail currently operates 11 mountain resorts and three urban ski areas in eight U.S. states, Canada and Australia.
The company trades on the New York Stock exchange under the symbol MTN. Vail’s stock rose nearly 3.9 percent on Monday, closing at $255.02 a share.
Janice Podsada: 425-339-3097; jpodsada@heraldnet.com
Talk to us
> Give us your news tips.
> Send us a letter to the editor.
> More Herald contact information.
