Alterra Mountain Company to Acquire Solitude Mountain Resort in Utah

Expanding the Company’s Family of Destinations and Experiences in Utah

DENVER--()--Alterra Mountain Company announced today that it has entered into an agreement to purchase Solitude Mountain Resort in Utah, which would bring the company’s total to 13 year-round mountain destinations throughout North America, including the world’s largest heli-skiing operation.

With its close relationship with Deer Valley Resort, Solitude Mountain Resort is a natural fit for Alterra Mountain Company, and a tremendous addition to our family of destinations. We are especially excited to expand our reach within Utah and offer another ski and snowboard experience in a state known for its exceptional snow and mountain culture,” said Rusty Gregory, Chief Executive Officer, Alterra Mountain Company.

Solitude Mountain Resort is located just 34 miles from the Salt Lake City International Airport (SLC) and less than an hour from Deer Valley Resort, in the renowned Big Cottonwood Canyon. The mountain offers skiers and riders 77 runs, three bowls, and a vertical drop of 2,030 feet (619 meters) across 1,200 acres, plus some of the most impressive off-piste terrain in the country. The quaint base village offers ski-in/ski-out accommodations along with year-round activities for guests.

Joining the impressive group of Alterra Mountain Company destinations places Solitude Mountain Resort in a strong position to continue to grow and enhance the brand and culture that is Solitude,” said Kim Mayhew, General Manager. “We are excited about the opportunities this transaction will create for our guests, our staff, and for our community in Big Cottonwood Canyon."

The transaction is expected to close by the end of the third quarter of 2018, and is subject to certain closing conditions, including regulatory approvals. Terms of the transaction were not disclosed. More details will be released once the transaction has closed, including Ikon Pass inclusion details and more.

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. Current destinations that make up Alterra Mountain Company are spread throughout five 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 in Vermont; Snowshoe in West Virginia; Tremblant in Quebec, Blue Mountain in Ontario; Deer Valley 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, Mammoth Resorts, and Deer Valley Resort in 2017.

At each destination, Alterra Mountain Company leaders are empowered to be decisive, creative, and bold in order to retain each mountain’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 for winter 2018-2019, the new standard in season passes. The Ikon Pass offers skiers and riders access to 26 mountain destinations throughout North America, including 12 Alterra Mountain Company destinations, plus 14 partner destinations.

About Alterra Mountain Company

Alterra Mountain Company is a family of 12 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 and retail businesses. Headquartered in Denver, Colorado with destinations across the continent, we are rooted in the spirit of the mountains and united by a passion for outdoor adventure. Alterra Mountain Company’s family of diverse playgrounds spans five 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 in Vermont; Snowshoe in West Virginia; Tremblant in Quebec, Blue Mountain in Ontario; Deer Valley Resort in Utah; and CMH Heli-Skiing & Summer Adventures in British Columbia. We honor each destination’s unique character and authenticity and celebrate the legendary adventures and enduring memories they bring to everyone. Alterra Mountain Company also owns Honua Kai Resort and Spa in Hawaii. For more information visit www.alterramtnco.com.

About Solitude Mountain Resort

Solitude Mountain Resort is a pure, authentic and untarnished Utah territory. Serene or extreme, there's nothing between you and the perfect mountain day. Located in Big Cottonwood Canyon, Utah, the resort offers eight chairlifts, 77 runs, three bowls and 500 annual inches of snow spread over 1,200 acres for skiing and snowboarding.

About Ikon Pass

The Ikon Pass is the new standard in season passes, connecting the most iconic mountains across North America, delivering authentic, memorable snow adventures. Brought to you by Alterra Mountain Company, the Ikon Pass unlocks access to a community of diverse destinations you want to ski and ride, including Aspen Snowmass, Steamboat, Winter Park Resort, Copper Mountain and Eldora 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 in Montana; Stratton, Killington and Sugarbush Resort in Vermont; Snowshoe in West Virginia; Tremblant in Quebec and Blue Mountain in Ontario, Canada; SkiBig3 in Alberta, Canada; Revelstoke Mountain Resort in British Columbia, Canada; Sunday River and Sugarloaf in Maine; Loon Mountain in New Hampshire; and Deer Valley Resort, Alta and Snowbird in Utah. Special offers are available at CMH Heli-Skiing & Summer Adventures, the world’s largest heli-skiing operation. For more information on the Ikon Pass, visit www.ikonpass.com.

Contacts

The Ashima Group
Amelie Bruzat
amelie@theashimagroup.com

Contacts

The Ashima Group
Amelie Bruzat
amelie@theashimagroup.com