The previously announced transaction between KSL Capital Partners and JMA Ventures which joins Squaw Valley and Alpine Meadows under one operating company has officially closed. This announcement affirms that skiers and riders can access Squaw Valley and Alpine Meadows' 6,000 acres, 44 lifts and over 270 trails on one lift ticket or season pass. The two resorts will be connected by convenient, complimentary shuttles that will provide transportation between the two resorts.
"Since announcing the merger, the Alpine Meadows and Squaw Valley joint pass products –the Tahoe Super Pass and Tahoe Super Six, and Squaw Valley's $50 million Renaissance, the response from our guests has been overwhelmingly positive" said Andy Wirth, Squaw Valley's president and CEO."The opportunity to experience these two incredible mountains, each with their own unique spirit and character, through one pass and one ticket has resonated deeply with our guests," said Wirth. Wirth will take the helm as the president and CEO of Squaw Valley Ski Holdings, LLC, the newly formed parent company of both Squaw Valley and Alpine Meadows.
"We are extremely pleased to announce what is certainly the biggest news of the 2011-2012 ski season," said Todd Chapman, president and CEO of JMA Ventures. "We look forward to working with Squaw Valley management, to introducing our guests to the greatly expanded opportunities that result from this combining of forces with Squaw Valley, and to the exciting days that lie ahead for these two magnificent properties."
In honor of the closing that unites these two incredible resorts, the new combined company, Squaw Valley Ski Holdings LLC, is pledging $25,000 to the Community House, a visionary new community center and a service delivery program spearheaded by the Tahoe Truckee Community Foundation (TTCF). The Community House will provide space for a host of invaluable local non-profit organizations who provide constant, accessible support and critical resources to families in times of need, all within walking distance to the elementary school, Boys and Girls Club and Kings Beach library. Those non-profits include Tahoe SAFE Alliance, the North Tahoe Family Resource Center, and Project MANA.
"Having Squaw Valley lead the way by providing the first gift toward purchasing property to house the Community House is incredibly significant," said Linda Brown, TTCF's interim CEO. "Squaw Valley, under Andy Wirth's leadership, has emerged as an outstanding corporate and philanthropic leader. With Squaw's gift and donations from others, the Tahoe Truckee Community Foundation will be able to secure long term space for non-profits providing critical core services for families in Kings Beach, enabling them to live with dignity and opportunity in our community."
The completion of this merger also marks the 14 day countdown for skiers and riders to purchase a Tahoe Super Pass or Tahoe Super Six at the current reduced rates. Starting at just $439, the Tahoe Super Pass is the first pass in ski resort history to offer season-long, interchangeable access to both Squaw Valley and Alpine Meadows. The all new Tahoe Super Six is also available for $399 for adults and provides six unrestricted days of skiing and riding at both resorts for the 2011-12 season. Both the Tahoe Super Pass and the Tahoe Super Six are on sale now and available at these incredible rates through November 30, 2011. Additional information can be found at www.squaw.com or by contacting Squaw Valley at 1-800-403-0206.
Situated less than 10 minutes from one another, Squaw Valley and Alpine Meadows are ideally located in North Lake Tahoe, California, just off Interstate 80, 45 miles west of Reno, Nevada, and 200 miles northeast of San Francisco. Alpine Meadows and Squaw Valley are proud to partner with and operate on lands managed by the United States Forest Service. Alpine Meadows also partners with and operates on land managed by the California Tahoe Conservancy.
About Squaw Valley
Host of the 1960 Winter Olympics, Squaw Valley is internationally renowned for its legendary terrain that spans over 3,600 skiable acres, six peaks and 30 lifts. From the expansive mountaintop beginner area to unrivaled expert steeps, trees and bowls, the resort offers terrain for all abilities. Off the mountain, families relax around the cozy village fire pits or stroll the pedestrian-friendly streets to enjoy a host of restaurants, boutiques, specialty wine shops and art galleries. This winter, guests can enjoy new dining experiences, a new day lodge, vastly improved facilities at the base and on mountain and a new snowsports school as part of the resort's $50 million renaissance. For more information, please see www.squaw.com.
About Alpine Meadows
Ranked as a top winter resort by SKI Magazine, Alpine Meadows is known for its abundant and varied skiable terrain, family-friendly atmosphere, and innovative children's ski and snowboard programs. Alpine's seven powder bowls, summit-to-base groomed slopes, and authentic hospitality are among the many attributes that have made the resort a favorite of the local community and visitors alike. Alpine Meadows offers skiers and riders access to more than 100 trails across 2,400 skiable acres serviced by 14 lifts. With its high annual snowfall, the resort boasts one of Tahoe's longest skiing and boarding seasons, which this past season, along with Squaw Valley, ran through July 4th. For more information, please see www.skialpine.com.
About KSL Capital Partners
KSL Capital Partners is a private equity firm specializing in travel and leisure enterprises in five primary sectors: hospitality, recreation, clubs, real estate and travel services. KSL Capital Partners has offices in Denver, Colorado and New York. For more information, please visit www.kslcapital.com.
About JMA Ventures
JMA Ventures is a full service real estate investment firm, serving as managing partner of over $500 Million in existing projects spanning hospitality, leisure, residential developments, retail, office and industrial/telecom. For more information, please visit www.jmaventuresllc.com.