Intrawest wholly owns or operates six four-season mountain resorts including Stratton Mountain in Vermont, Steamboat in Colorado and Mont Tremblant in Quebec, Canada, as well as an adventure travel business.
"As part of the team and new company formed, we are excited to work with a group of truly great mountain resorts and their teams".
In a statement issued via a press release, Rusty Gregory, the longtime manager and chief executive of Mammoth Resorts, called the move "the next logical chapter in the story of Mammoth".
The Post also cited unnamed sources close to the acquisition as saying that a collective pass for Aspen Skiing Company's 15 ski properties - a la Vail's popular Epic Pass - would nearly certainly come to fruition in the near future.
"We are excited to work with Aspen and KSL".
Aspen and KSL revealed April 10 their intention to purchase Steamboat Ski Resort with the other five resorts in the Intrawest group for $1.5 billion.
The following year, Squaw Valley USA and Alpine Meadows, two of the largest ski resorts at Lake Tahoe, combined operations.
Aspen Skiing Co. owns the Snowmass, Aspen Mountain, Aspen Highlands and Buttermilk resorts.
Intrawest CEO Thomas Marano said the amount to be paid to stockholders per share represents a 40 percent increase over the closing stock price on January 12, when Reuters reported the company was exploring a potential sale.
Details of the transaction are unavailable, but the deal is expected to close in the third quarter of 2017. Though, at that time, Mammoth Resorts only operated Mammoth Mountain and June Mountain.
Steamboat now collaborates on the Rocky Mountain Super Pass Plus, which offers unlimited access to Winter Park Resort, Copper Mountain and Eldora Mountain Resort, plus six days at Steamboat, three days at Crested Butte, three days at Alyeska Resort (Alaska) and seven days each at six global resorts.
Terms of the deal were not disclosed.
"Mammoth is a special place. Both Aspen and KSL are committed to helping Intrawest accelerate our plans to bring more value to our guests, more opportunities for our employees and more investment into our local communities", Marano said in a statement.
"We had greater plans for Mammoth but the Great Recession and then some less favorable weather interfered with our strategic aspirations in a finite lift investment vehicle", Sternlicht said. He also suggested the resorts in the Mountain Collective might serve as a roadmap for additional purchases. "We know Aspen and KSL have the experience, commitment and balance sheet to help make our vision a reality".
Hogan Lovells US LLP, Latham and Watkins LLP and Simpson Thacher Bartlett LLP are serving as legal counsel to Aspen and KSL.
The company that owns the Aspen area's ski resorts is teaming up with a private equity firm to buy the owner of several ski resorts in the United States and Canada.
AUDI IS MOVING FAST to capitalize on the booming SUV market by rolling out a model to fill the gaps in its current line-up. The 2019 Audi Q4 will be built using Volkswagen's MQB platform, the same one that was used for the second-generation Q3.
In this Thursday, April 13, 2017, photo, a man uses a Bank of America ATM near the company's headquarters in Charlotte, N.C. The banking giant repurchased a net of $2.3 billion in common stock and paid out $0.8 billion in common stock dividends.
Sajjan, who is on a week long visit to India, was also given a Guard of Honour at South Block, which houses the Defence Ministry. When I read up on Sajjan, I reckon he has a rich experience in combatting crime as a decorated police officer in Vancouver.
Federal authorities contend Trujillo Diaz entered the United States illegally in 2002 and has exhausted her appeals. In a statement ICE says, "The removal will go forward unless the court renders a decision on the pending petition".
Indeed, the company said earlier this year that it was looking at its corporate headcount for ways to operate more efficiently. For the customer, it's a trip to Walmart , which many will be happy to do if they just saved tens or even hundreds of dollars.
The U.S. scrambled two F-22 fighters from Elmendorf Air Force Base in Anchorage, Alaska, to intercept the Russian planes. North American Aerospace Defence Command monitors air approaches to North America and defends the airspace.
Being introduced in the USA first, users will be able to use PayPal in Android Pay at all retailers accepting Android Pay . All current Android devices that support Pay (4.4 KitKat and above) will have access to the PayPal integration.
We already know that there's going to be a Moto Z2 this year too, and that will obviously serve as the successor to the Moto Z. The report adds both phones will use a MediaTek chipsets, though according to this Moto C Plus will have 64-bit processor.
Three vending machines located in central Vegas will be operational by the end of May , the Las Vegas Review-Journal reported. Heroin-related overdose deaths also increased during the same period, almost quadrupling to 8,200 deaths in 2013.
Arconic CEO resigns amid pressure from Elliott
Alcoa split in two in November 2016, creating Arconic for its growth-oriented businesses such as aerospace and automotive. With Kleinfeld's resignation, Elliott Management's core objective - a CEO change - has been realized, Arconic stated.
Cotton booed for defending Trump on tax returns
I mean you see. really?" "No, I said, 'I'd have to get back to you on that.' I think that he is still under audit". And he had previously suggested that the ex-businessman could offer those returns to the public on Tax Day.
Lyrid meteor showers expected to peak on Saturday
In the article "All You Need to Know: Lyrid Meteors", the organization writes, "It's active each year from about April 16 to 25". If you aren't keen on awaking super early to see the meteors, or staying up very late, there are other sights in the night sky.
President Trump visiting Kenosha on Tuesday
Scott Walker is expected to take part in the event, however, House Speaker Paul Ryan is out of the country and will not attend. Trump plans to sign an order in Wisconsin to tighten rules on technology companies bringing in highly skilled foreign workers.
Crystal Palace v Leicester City
Wilfried Zaha and Andros Townsend had yet to be born when this occurred. "Unfortunately for me, players forgot", said Allardyce. The Belgian global striker scored the equaliser as Palace fought back from two goals down to earn a point at Selhurst Park.
Telangana hikes quota for Muslims, tribals
KCR exhibited belligerence when he said: "I will not beg the Centre, but am going to fight to get the Bill implemented". Citywise, Hyderabad has the largest concentration whereas Khammam has the loswest population of Muslims.
Revamped Mercedes S-Class to hit showrooms in July
Meanwhile, there are also changes to how the car's self-driving status is communicated to the person behind the wheel . The S560 and S560 4Matic use a new 4.0-liter twin-turbo V8, with 463 hp and 516 lb-ft.
4 bodies in NY park are apparent homicide victims
Known MS-13 member, Jose Pena-Hernandez, 18, was found dead in October, according to investigators. MS-13 uses violence to intimidate rival gangs, using weapons ranging from firearms to machetes .