Denver Business Journal — Vail Resorts has officially added its fifth Colorado mountain to its portfolio.
Crested Butte Mountain Resort, located in Crested Butte, Colorado near Gunnison, was acquired along with Okemo Mountain Resort in Vermont and Mount Sunapee Resort in New Hampshire in Vail Resorts' (NYSE: MTN) $74 million purchase of Triple Peaks LLC, according to a press release.
Dick Eflin and Fred Rick opened the Crested Butte ski area in the winter of 1962-63, according to a Town of Crested Butte historical site.
Triple Peaks paid off $155 million in leases for the resorts with funds provided by Vail Resorts to Ski Resort Holdings LLC, an affiliate of Oz Management (NYSE: OZM), as a part of the transaction, according to the release.
Read more at the Denver Business Journal: https://bit.ly/2QhemdT
