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

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
Gov. Andrew Cuomo (Getty; iStock)

New York City lifts lockdown for some Covid hot spots

New York City lifts lockdown for some Covid hot spots
518 Broadway (Google Maps)

Four years vacant: Landlord offers dire outlook for Soho building

Four years vacant: Landlord offers dire outlook for Soho building
Sam Chang and TownePlace Suites by Marriott at 324 West 44th Street (Google Maps)

Hotelier Sam Chang’s businesses snagged millions in PPP loans

Hotelier Sam Chang’s businesses snagged millions in PPP loans
Vornado CEO Steven Roth with 1535 Broadway and 220 Central Park South (Getty, VNO, Google Maps)

Vornado sees $100M retail JV loss, $190M in 220 CPS gains

Vornado sees $100M retail JV loss, $190M in 220 CPS gains
Gov. Andrew Cuomo (Getty, iStock)

Commercial eviction and foreclosure ban extended until January

Commercial eviction and foreclosure ban extended until January
The Manhattan office market’s overall vacancy rate rose to a 24-year high of 13.3% in the third quarter (iStock)

Cushman & Wakefield paints bleak picture for Manhattan office market

Cushman & Wakefield paints bleak picture for Manhattan office market
Travis Kalanick (Getty; iStock)

Travis Kalanick cooks up a real estate empire

Travis Kalanick cooks up a real estate empire
Nightingale's Elie Schwartz and Madison's Brian Shatz (Whale Square)

Nightingale buys Whale Square in Sunset Park for $84M

Nightingale buys Whale Square in Sunset Park for $84M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...