Vail Resorts moves into Australia
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Vail Resorts, the US-based ski resort operator, has acquired its first international mountain resort; Perisher Ski Resort in New South Wales.
The deal, which is worth AU$176.6 million (US$136m), will see Vail add Australia’s largest and most visited ski resort to its portfolio. The acquisition is expected to close in the fourth quarter of the 2015 financial year.
“The acquisition of our first international mountain resort is a significant milestone for our company,” said Rob Katz, chairman & CEO of Vail Resorts.
“Australia is one of the most important international markets for ski resorts across the Northern Hemisphere, generating an estimated more than one million skier visits annually to resorts in North America, Japan and Europe.
“We see this as a ground-breaking acquisition that will dramatically enhance the connection between our company and Australian skiers and riders.”
The acquisition includes the resort areas known as Perisher Valley, Smiggin Holes, Blue Cow and Guthega, along with a ski school, lodging, F&B outlets, retail outlets and transportation operations. Vail has also added Perisher to its season pass, allowing holders to ski at nine of its mountain resorts in the US.
Vail currently operates mountain resorts in the US states Colorado, California, Nevada, Utah, Minnesota, Michigan and Wyoming.
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