Kirkwood Mountain Resort was sold for $18 million.
The Acquisition of Kirkwood Mountain Resort
Kirkwood Mountain Resort, a prominent ski destination in the Sierra Nevada mountains, was acquired by Vail Resorts, Inc. The acquisition was officially completed on January 28, 2013, solidifying Vail Resorts' expanding presence in the ski industry. This transaction significantly augmented Vail Resorts' portfolio, which already included renowned resorts like Heavenly and Northstar in the Lake Tahoe area.
Key Details of the Transaction
The sale transferred ownership and operational control of Kirkwood's extensive terrain, lift infrastructure, and facilities to Vail Resorts. The details of the acquisition are summarized below:
| Detail | Description |
|---|---|
| Sale Price | $18 million |
| Buyer | Vail Resorts, Inc. |
| Seller | The former owners of Kirkwood Mountain Resort (Booth Creek Ski Holdings, Inc. and certain of its affiliates) |
| Completion Date | January 28, 2013 |
Context of the Sale
While the exact sale price was $18 million, this figure was noted by some as a relatively modest amount for a resort of Kirkwood's size, snowfall, and reputation for expert terrain. The acquisition allowed Vail Resorts to further strengthen its position in the competitive Lake Tahoe market, offering guests a diverse range of experiences across its properties with a single pass system. For Kirkwood, joining the Vail Resorts network meant access to broader marketing, operational efficiencies, and capital for future enhancements.
