Intrawest acquired by affiliates of Aspen Skiing Co., KSL
Steamboat is thrilled to announce that our parent company, Intrawest, has entered into an agreement to be acquired by a newly formed entity created by affiliates of Aspen Skiing Co. and KSL Capital Partners.
Steamboat continues to be committed to providing a world-class, year-round vacation destination for our guests while retaining what set us apart from other mountain destinations: our western spirit, Olympic heritage, family friendliness and, of course, the Champagne Powder® snow.
Below are a few questions we think will help you understand how the new agreement may affect you:
Q: Will management at Steamboat Ski Resort change?
A: Steamboat Ski Resort will continue to operate with the same strong team that has worked to make Steamboat the world-class resort it is known as. No changes are anticipated at this time.
Q: Will Intrawest and Steamboat continue with business as usual?
A: Operations at Intrawest and Steamboat will continue in ordinary course. For the full 2017-18 winter season, Intrawest will continue to honor its multi-resort and season pass products currently on sale.
Q: What will happen to Intrawest’s passes?
A: For the full 2017-18 winter season, Intrawest will continue to honor its multi-resort and season pass products that are currently on sale. This includes Steamboat passes currently on sale for the 2017/18 season, as well as the RMSP+ and the M.A.X. Pass.
Q: Will Aspen Snowmass or Squaw Valley/Alpine Meadows be added to Intrawest’s passes?
A: As passes for next year are already being sold, no immediate changes to pass products are planned.
Q: What is Aspen Skiing Co.?
A: Aspen Skiing Co. owns and operates the four mountains of Aspen Snowmass – Snowmass, Aspen Mountain, Aspen Highlands and Buttermilk – as well hospitality properties The Little Nell, Residences at The Little Nell, Limelight Aspen and Limelight Ketchum in Ketchum, Idaho. In addition, Aspen Skiing Company owns and operates numerous retail and rental locations through the resort and the Roaring Fork Valley.
Q: What is KSL?
A: KSL is a private equity firm specializing in travel and leisure enterprises in five primary sectors: hospitality, recreation, clubs, real estate and travel services. KSL has offices in Denver, Colorado; Stamford, Connecticut; and London, England. Since 2005, KSL has raised approximately $7.5 billion in equity capital commitments. For more information, please visit www.kslcapital.com.
Read the full press release here.
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