Deer Valley is purchased by a new company and is still predicted to not allow snowboarding next season, so why should we care? Well, as Forbes predicts a looming season pass battle between Vail’s Epic Pass and whatever multiple resort deal KSL and Co. comes up with, Deer Valley would be the singular ski-only resort underneath the new companies umbrella. That blemish could act as a huge deterrent when it comes to snowboarders deciding which group pass and mountains to go with, costing KSL and their partners the one thing that can probably change their minds: money.
After joining Intrawest Resort Holdings, Mammoth Resorts and Squaw Valley Ski Holdings earlier this year, the new yet-to-be-named player on the block controlled by KSL Capital Partners and friends has now acquired Deer Valley Resort. As one of the three resorts left in the United States that does not allow snowboarding, this acquisition will hopefully lead to a brighter future for sliding sideways in Utah. The partnership now aligns Deer Valley with some of the most historically avid supporters of snowboarding in Bear Mountain and Mammoth.
Adding to the 12 resorts already in the KSL and affiliates portfolio, and with season pass sales already in motion, there will be little change for Deer Valley in the upcoming season. Bob Wheaton, president and general manager of Deer Valley Resort, believes that business will run as usual. We hope that is not the case in years to come. Just for a quick comparison for what the future might hold, here is what the competing passes could offer for U.S. based resorts between the two largest resort owners in the country:
Vail Epic Pass:
Vail, Beaver Creek, Breckenridge, Keystone, Park City, Heavenly, Northstar, Kirkwood, Stowe, Wilmot, Afton Alps, Mt. Brighton, and Arapahoe Basin.
Unnamed KSL and friends:
Mammoth, Bear Mountain, June, Snow Summit, Stratton, Aspen Mountain, Aspen Highlands, Snowmass, Buttermilk, Alpine Meadows, Squaw Valley, Winter Park, Steamboat, Deer Valley
Full press release from Deer Valley below:
The newly formed entity controlled by affiliates of KSL Capital Partners, LLC and Henry Crown and Company that in July joined Intrawest Resorts Holdings, Inc., Mammoth Resorts and Squaw Valley Ski Holdings today announced, with Deer Valley Resort, that they have entered into a definitive agreement for the newly formed entity to acquire Deer Valley Resort. Financial terms of the transaction were not disclosed. The transaction is subject to certain closing conditions and is anticipated to close prior to the upcoming 2017-18 ski season.
"Deer Valley Resort is one of the preeminent mountain resorts in the world and is a tremendous addition to our existing portfolio. Prior to this acquisition, we were able to offer our guests exceptional experiences throughout most of North America's major ski regions, but we did not have a resort in Utah, a state that is renowned for great skiing and mountain town life. Park City and Salt Lake skiers have always known that powder, blue skies, a huge variety of terrain, and exemplary guest service have always set Deer Valley Resort apart," said David Perry, president and chief operating officer of the new joint venture. "We could not be more pleased that Deer Valley Resort will be part of our new company, and we look forward to working with the staff and Park City community to carry on the traditions that make it so special," added Mr. Perry.
"We are thrilled to join this impressive portfolio with 12 other resorts and are excited about the opportunities this transaction will create for our guests, staff, and the community of Park City. Deer Valley is a special place and being part of its growth has been one of the great joys of my life," said Bob Wheaton, president and general manager. "Joining this portfolio of resorts will enable Deer Valley to build upon its outstanding traditions and further enhance our ability to provide our guests with a world class skiing experience. I look forward to working with them as we develop our vision for the future of the resort and the new company."