Vail Resorts Acquires Northstar-at-Tahoe Resort in California
Add one more resort you Epic Pass Is good at.
BROOMFIELD, Colo.—Oct. 25, 2010—Vail Resorts, Inc. (NYSE: MTN) today announced that it has closed on the acquisition of Northstar-at-Tahoe™ Resort in North Lake Tahoe, Calif., one of the premier mountain resort destinations in North America. Vail Resorts acquired the stock of the companies that operate Northstar-at-Tahoe from Booth Creek Resort Properties LLC and other sellers for total consideration of $63 million. The operations of Northstar-at-Tahoe are conducted on land owned by CNL Lifestyle Properties, Inc. which will be leased to Vail Resorts under a long-term agreement. Vail Resorts now operates two mountain resorts in the Lake Tahoe region, also operating Heavenly Mountain Resort in South Lake Tahoe. The Sierra-at-Tahoe resort is not part of the acquisition and will continue to be operated by Booth Creek.