Vail Resorts Inc. has closed on its acquisition of Triple Peaks LLC, parent company of Okemo Mountain Resort in Vermont, Mount Sunapee Resort in New Hampshire and Crested Butte Mountain Resort in Colorado.
Vail bought Triple Peaks from the Mueller family for about $74 million, after adjustments.
As part of the transaction and with funds provided by Vail Resorts, Triple Peaks paid off $155 million in leases that all three resorts had with Ski Resort Holdings LLC, an affiliate of Oz Real Estate.
Okemo and Mount Sunapee are joining Stowe Mountain Resort in Vail Resorts’ northeastern network of resorts.
Okemo, about three hours from Boston and four hours from New York City, sits just above the Vermont village of Ludlow and has developed a reputation for superior guest service, snow quality, grooming, terrain parks and family programs.
Mount Sunapee, located in Mount Sunapee State Park, is the premier ski area in southern New Hampshire and is a 90-minute drive from Boston.
With the addition of Crested Butte to Vail Resorts’ Colorado network, pass holders can access to seven resorts throughout the state; the others are Vail, Beaver Creek, Breckenridge, Keystone, Arapahoe Basin and Telluride.
Vail’s 2018-19 Epic Pass, Epic Local Pass, and Military Epic Pass now include unlimited and unrestricted access to Okemo, Mount Sunapee and Crested Butte. The Epic 7 Day and the Epic 4 Day offer up to seven and four unrestricted days, respectively. All 2018-19 season passes are on sale, with prices increasing on Sunday, Oct. 7.
The Triple Peaks acquisition is the second of two acquisitions announced in June. In the first, which closed Aug. 15, Vail acquired Stevens Pass Resort in Washington from Ski Resort Holdings LLC, an affiliate of Oz Real Estate. It’s 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.
Vail Resorts plans to invest $35 million in the next two years across the four resorts to elevate guest experiencse.