Colorado Company Buying Mount Sunapee

Mount Sunapee has been acquired by Vail Resorts, Inc. According to a statement, Vail entered into an agreement to purchase Triple Peaks, LLC, the parent company of Okemo Mountain Resort in Vermont, Mount Sunapee Resort in New Hampshire, and Crested Butte Mountain Resort in Colorado.

Vail Resorts will, subject to approval, assume the state land leases for Okemo Mountain Resort and Mount Sunapee Resort. The state land lease transfers in Vermont and New Hampshire are subject to administrative review and consent from their respective states.

As part of a separate transaction, Vail Resorts will also purchase Stevens Pass Resort in Washington from Ski Resort Holdings and plans to invest $35 million over the next two years across the four resorts to continue to elevate the guest experience. In addition, annual ongoing capital expenditures are expected to increase by $7 million to support the addition of these resorts, according to the statement.

The transactions are expected to close this summer. Operations at the four resorts for the remainder of the 2018 summer season will continue in the ordinary course of business, as will future winter seasonal hiring. The statement says Vail Resorts plans to retain the vast majority of each resort's employees and will be working with the local leadership teams in the coming months to determine the right long-term management structure for the resorts.

"Together, the acquisitions of Okemo, Mount Sunapee, Crested Butte, and Stevens Pass will significantly enhance the Vail Resorts' network of resort experiences, adding even more variety and choice for all of our pass holders and guests,” says Rob Katz, chairman and chief executive officer of Vail Resorts. "Okemo and Mount Sunapee are terrific complements to Stowe in the Northeast, as is Crested Butte to our four Colorado resorts, and Stevens Pass for our Whistler Blackcomb and Seattle guests.”