Vail Resorts Plans to Buy Vermont’s Iconic Stowe Mountain Resort
February 22, 2017News
Colorado’s Vail Resorts plans to acquire Stowe Mountain Resort, Vermont’s century-old ski mountain.
Vail Resorts announced on Tuesday it will pay $50 million to acquire all mountain operations at Stowe Mountain Resort, a significant endorsement for Vermont’s ski culture.
The purchase conditions include food and beverage facilities and rental / lift offices on Mt. Mansfield and Spruce Peak. The Stowe Mountain Lodge, the Stowe Mountain Club, and the Stowe Country Club, among other properties, will continue to be owned by Mt. Mansfield Company under American International Group, Inc.
Vail Resorts owns many ski operations across the country and beyond, but Stowe Mountain Resort will be their first mountain resort on the east coast. Blaise Carrig, senior adviser to the mountain division at Vail, reports that there are no immediate plans to change Stowe. The company intends to honor Vermont’s history and maintain Stowe’s iconic east-coast feel.
Carrig said they expect to keep current Stowe employees but noted there will be organizational adjustments given Mt. Mansfield Company’s ownership of some mountain real estate.
Pending the acquisition closing, Vail Resorts plans to introduce the Epic Pass to Stowe for the 2017-2018 ski season. The pass includes unlimited skiing many Vail resorts for the price of $809, if purchased during preseason. This is a huge price drop compared to this year’s $1,860 adult pass at Stowe.
Located just minutes to Stowe Mountain Resort is the Stowe Highlands development built by BlackRock Construction and Development. The Stowe Highlands community features 11 luxury single-family homes on the Stowe Country Club Golf Course with easy access to I-89, Montpelier, and Burlington.
For more information about building at Stowe Highlands or designing a luxury home of your own with BlackRock Luxury, please contact Jay Mitiguy at Jay@HergGroup.com or 802.324.8500.