Alterra Mountain Company Closes on Sugarbush Resort in Vermont

Expanding the Company’s Family of Destinations to 15

DENVER–(BUSINESS WIRE)–Alterra Mountain Company announces that it has closed on the purchase of Sugarbush Resort in Vermont, bringing the company’s total year-round mountain destinations to 15 throughout North America, including the world’s largest heli-skiing operation.

“With the acquisition of Sugarbush Resort, we are excited to expand our presence within the Northeast skier market as we grow our Alterra Mountain Company family of destinations to 15,” said Rusty Gregory, Chief Executive Officer, Alterra Mountain Company. “We have been working with the team at Sugarbush since the inception of the Ikon Pass and found we had a like-minded vision of the industry, our community, and the mountains we all love. We look forward to growing that relationship as we move into our future together.”

Win Smith will stay on as President and COO of Sugarbush Resort and will oversee daily operations of the destination and its future capital improvement plans.

Sugarbush Resort’s Ikon Pass access will remain the same for winter 2019/2020, with 7-day access on the Ikon Pass and 5-day access with blackouts on the Ikon Base Pass.

Founded in 1958, Sugarbush Resort is a year-round mountain destination located in the scenic Mad River Valley of Vermont with two distinct mountains – Mt. Ellen and Lincoln Peak – that are joined by a two-mile high-speed quad. Sugarbush also has a fully appointed health and recreation club, multiple lodging properties, and the Sugarbush Resort Golf Club with an 18-hole Robert Trent Jones, Sr.-designed golf course. It is also a popular destination for weddings and conferences.

Alterra Mountain Company’s destinations offer premium ski, snowboard and all-season activities for those who seek adventure, freedom, and fun in the great outdoors. Alterra Mountain Company mountain destinations are spread throughout six states and three Canadian provinces: Steamboat and Winter Park in Colorado; Squaw Valley Alpine Meadows, Mammoth Mountain, June Mountain and Big Bear Mountain Resort in California; Stratton and Sugarbush Resort in Vermont; Snowshoe in West Virginia; Tremblant in Quebec, Blue Mountain in Ontario; Crystal Mountain in Washington; Deer Valley Resort and Solitude Mountain Resort in Utah; and CMH Heli-Skiing & Summer Adventures in British Columbia. Alterra Mountain Company was created when affiliates of KSL Capital Partners, owners of Squaw Valley Alpine Meadows, and affiliates of Henry Crown and Company purchased Intrawest and Mammoth Resorts. Subsequent acquisitions have included Deer Valley Resort in 2017, Solitude Mountain Resort in 2018, and Crystal Mountain in 2018.

Alterra Mountain Company empowers each destination’s leaders to be decisive, creative, and bold in order to retain each destination’s authentic character. Recognizing the innate value of the unique culture found at each of the mountain communities, Alterra Mountain Company’s goal is to preserve, sustain and support its two most important resources: the mountains and the people who live and play in them.

In January 2018, Alterra Mountain Company introduced the Ikon Pass, the new standard in season passes. The Ikon Pass now offers skiers and riders access to 41 mountain destinations throughout the Americas, Europe, Australia, New Zealand, and Japan, including 15 Alterra Mountain Company destinations, plus 26 global partner destinations.

About Alterra Mountain Company

Alterra Mountain Company is a family of 15 iconic year-round destinations, including the world’s largest heli-ski operation, offering the Ikon Pass, the new standard in season passes. The company owns and operates a range of recreation, hospitality, real estate development, food and beverage, retail and service businesses. Headquartered in Denver, Colorado, with destinations across the continent, Alterra Mountain Company is rooted in the spirit of the mountains and united by a passion for outdoor adventure. Alterra Mountain Company’s family of diverse playgrounds spans six U.S. states and three Canadian provinces: Steamboat and Winter Park Resort in Colorado; Squaw Valley Alpine Meadows, Mammoth Mountain, June Mountain and Big Bear Mountain Resort in California; Stratton and Sugarbush Resort in Vermont; Snowshoe in West Virginia; Tremblant in Quebec, Blue Mountain in Ontario; Crystal Mountain in Washington; Deer Valley Resort and Solitude Mountain Resort in Utah; and CMH Heli-Skiing & Summer Adventures in British Columbia. Also included in the portfolio is Alpine Aerotech, a worldwide helicopter support and maintenance service center in British Columbia, Canada. Alterra Mountain Company honors each destination’s unique character and authenticity and celebrates the legendary adventures and enduring memories they bring to everyone. For more information, please visit www.alterramtnco.com.

About Ikon Pass

The Ikon Pass is the new standard in season passes, connecting the most iconic mountains across the Americas, Europe, Australia, New Zealand, Japan, delivering authentic, memorable snow adventures. Brought to you by Alterra Mountain Company, the Ikon Pass unlocks access to a community of diverse destinations to ski and ride, including Aspen Snowmass, Steamboat, Winter Park Resort, Copper Mountain, Arapahoe Basin Ski Area, and Eldora Mountain Resort in Colorado; Squaw Valley Alpine Meadows, Mammoth Mountain, June Mountain and Big Bear Mountain Resort in California; Jackson Hole Mountain Resort in Wyoming; Big Sky Resort in Montana; Stratton, Sugarbush Resort and Killington in Vermont; Snowshoe in West Virginia; Boyne Highlands and Boyne Mountain in Michigan; Crystal Mountain and The Summit at Snoqualmie in Washington; Tremblant in Quebec and Blue Mountain in Ontario, Canada; SkiBig3 in Alberta, Canada; Revelstoke Mountain Resort and Cypress Mountain in British Columbia, Canada; Sunday River and Sugarloaf in Maine; Loon Mountain in New Hampshire; Taos Ski Valley, New Mexico; Deer Valley Resort, Solitude Mountain Resort, Brighton Resort, Alta Ski Area, and Snowbird in Utah; Zermatt in Switzerland; Thredbo and Mt Buller in Australia; Coronet Peak, The Remarkables, Mt Hutt in New Zealand; Niseko United in Japan, and Valle Nevado in Chile. Special offers are available at CMH Heli-Skiing & Summer Adventures, the world’s largest heli-skiing and heli-accessed hiking operation. For more information on the Ikon Pass, please visit www.ikonpass.com.

About Sugarbush Resort

Located in the beautiful Mad River Valley of Vermont, Sugarbush is a four-season resort. Founded in 1958, Sugarbush is known for its varied terrain which extends over 4,000 acres. Skiing and riding are available on 111 trails throughout 28 wooded areas. Sugarbush’s vertical is 2,600 feet and averages 250 inches of snow each year. In the summer season, Sugarbush is a wedding and conference destination and features activities such as lift accessed mountain biking, disc golf, children’s summer camps, hiking and tennis. It also has an 18-hole Robert Trent Jones, Sr.-designed golf course. Sugarbush Resort is owned by Alterra Mountain Company and offers the Ikon Pass, the new standard in season passes.

Contacts

The Ashima Group
Amelie Bruzat

amelie@theashimagroup.com