Winter is coming. Vail and Aspen consolidate their RE empires

The companies are being forced to innovate beyond big RE deals in order to compete effectively

TRD WEEKEND EDITION /
Oct.October 21, 2017 09:00 AM

(BagoGames, front/Uri Tours, back)

The knights of the Vail (Resorts) versus House Aspen Skiing Co. are preparing for battle — and it’s no flippant comparison.

The two companies are increasingly dominating the industry, as Bloomberg News reports, with 50 of North America’s biggest peaks having been acquired by either Vail or Aspen in the past five years.

Vail’s latest moves include buying Vermont’s Stowe and, for $1.3 billion, Canada’s Whistler Blackcomb Holdings — the latter of which was worth more than twice what Vail shelled out for its entire portfolio since 2002.

Aspen, on the other hand, joined forces with KSL Capital Partners to make a $1.5 billion purchase of six ski resorts spread throughout Canada and the U.S. from Intrawest Resort Holdings, as well as acquiring four additional mountain properties in California and Utah.

With no new ski resorts built in the U.S. or Canada since the 1980s, North America’s mountainous regions are a veritable game board for the two competitors both vying for a snowy crown.

Bloomberg finds Vail to be leader heading into this winter thanks to its innovative spin on the season pass; now people can buy an all-mountain pass that allows them to visit different Vail properties — however the game is far from over.

[Bloomberg News] — E.K. Hudson


Related Articles

arrow_forward_ios
Breather CEO Bryan Murphy (Credit: LinkedIn and iStock)

Breather bloodbath: Flex-office startup fires at least 10% of staff

Stephen Levin, REBNY's Jim Whelan and Brad Lander (Credit: Getty Images)

The bill that won’t die: Will commercial rent control finally pass?

Softbank CEO Masayoshi Son (Credit: Getty Images)

SoftBank’s $3B payout to WeWork’s investors is delayed

John Legere (Credit: Getty Images)

WeWork reportedly in talks to hire T-Mobile exec as CEO

(Credit: iStock)

Small Talk: Every community meeting. About every development project. Ever.

An example of roll-off waste management (Credit: YouTube, iStock)

A win for big building owners in trash-collection fight

Duke Long and Poshtel International CEO Morten Lund

“I can talk about erections all day”: NAR tech consultant’s bizarre fireside chat

Council member Vanessa Gibson (Credit: New York City Council)

Commercial landlords face new fines as City Council passes anti-harassment bill

arrow_forward_ios