Alterra Mountain Company To Acquire Solitude Mountain Resort in Utah

[Tricia]

ALTERRA MOUNTAIN COMPANY TO ACQUIRE SOLITUDE MOUNTAIN RESORT IN UTAH
Expanding the Company’s Family of Destinations and Experiences in Utah


DENVER, CO, June 20, 2018 – Alterra Mountain Company announced today that it has entered into an agreement to purchase Solitude Mountain Resort in Utah, which would bring the company’s total to 13 year-round mountain destinations throughout North America, including the world’s largest heli-skiing operation.


“With its close relationship with Deer Valley Resort, Solitude Mountain Resort is a natural fit for Alterra Mountain Company, and a tremendous addition to our family of destinations. We are especially excited to expand our reach within Utah and offer another ski and snowboard experience in a state known for its exceptional snow and mountain culture,” said Rusty Gregory, Chief Executive Officer, Alterra Mountain Company.


Solitude Mountain Resort is located just 34 miles from the Salt Lake City International Airport (SLC) and less than an hour from Deer Valley Resort, in the renowned Big Cottonwood Canyon. The mountain offers skiers and riders 77 runs, three bowls, and a vertical drop of 2,030 feet (619 meters) across 1,200 acres, plus some of the most impressive off-piste terrain in the country. The quaint base village offers ski-in/ski-out accommodations along with year-round activities for guests.


“Joining the impressive group of Alterra Mountain Company destinations places Solitude Mountain Resort in a strong position to continue to grow and enhance the brand and culture that is Solitude,” said Kim Mayhew, General Manager. “We are excited about the opportunities this transaction will create for our guests, our staff, and for our community in Big Cottonwood Canyon."


The transaction is expected to close by the end of the third quarter of 2018, and is subject to certain closing conditions, including regulatory approvals. Terms of the transaction were not disclosed. More details will be released once the transaction has closed, including Ikon Pass inclusion details and more.


Alterra Mountain Company’s destinations offer premium ski, snowboard and all-season activities for those who seek adventure, freedom, and fun in the great outdoors. Current destinations that make up Alterra Mountain Company are spread throughout five states and three Canadian provinces: Steamboat and Winter Park in Colorado; Squaw Valley Alpine Meadows, Mammoth Mountain, June Mountain and Big Bear Mountain Resort in California; Stratton in Vermont; Snowshoe in West Virginia; Tremblant in Quebec, Blue Mountain in Ontario; Deer Valley in Utah; and CMH Heli-Skiing & Summer Adventures in British Columbia. Alterra Mountain Company was created when affiliates of KSL Capital Partners, owners of Squaw Valley Alpine Meadows, and affiliates of Henry Crown and Company purchased Intrawest, Mammoth Resorts, and Deer Valley Resort in 2017.


At each destination, Alterra Mountain Company leaders are empowered to be decisive, creative, and bold in order to retain each mountain’s authentic character. Recognizing the innate value of the unique culture found at each of the mountain communities, Alterra Mountain Company’s goal is to preserve, sustain and support its two most important resources: the mountains and the people who live and play in them.


In January 2018, Alterra Mountain Company introduced the Ikon Pass for winter 2018-2019, the new standard in season passes. The Ikon Pass offers skiers and riders access to 26 mountain destinations throughout North America, including 12 Alterra Mountain Company destinations, plus 14 partner destinations.

 

[Beartown]

3/4 Cottonwood resorts on the Ikon Pass! Boooooooyaaaaaaaaaa

 

[StuckonI70]

Name change to "Crowded" in the works?

 

[jmeb]

Name change to "Crowded" in the works?

Yep. Good bye empty Solitude. The IKON will now have 7days at AltaBird and unlimited at Solly, making it a very attractive pass for a huge number of SLC residents that prefer the Cottonwoods to Park City.

 

[fatbob]

Yep makes Ikon a local's pass for SLC. Suck it DV.

For destination visitors not so exciting I think.

 

[Jully]

Yep makes Ikon a local's pass for SLC. Suck it DV.

For destination visitors not so exciting I think.

I think it probably helps the family/intermediate destination visitors to Utah. Alta/Bird doesn't excite any of the intermediates I know (in fact they're scared of it), but they loved SolBright. No one would go to just ski Solitude, but I think it is a fairly nice addition to the lineup in Utah.

I second the worry about the crowds at Solitude now though. Will be interesting to see how that shakes out.

 

[Wasatchman]

3/4 Cottonwood resorts on the Ikon Pass! Boooooooyaaaaaaaaaa

AltaBird not owned by Alterra. Both may not participate on IKON pass after 18/19 season now that Solitude is owned by Alterra.

Not happy about the news. More crowds at Solitude and formation of industry duopoly essentially here at this point. I'm bummed about it.

I would bet AltaBird remain independent. Brighton on the other hand could very well be in play. If regulators allow it, I could see Alterra purchasing Brighton. They could make SolBright a destination resort and unlimited on a pass while keeping DV more exclusive and limited on IKON pass.

 

[Tricia]

Name change to "Crowded" in the works?

I don't see that happening.
From their media page on why they chose the name Alterra

About the Name and Logo
The name Alterra is a fusion of the words altitude and terrain/terra, paying homage to the mountains and communities that form the backbone of the company. In the coming months Alterra Mountain Company will announce new season pass products that will provide access to all of our existing mountains, plus many additional benefits, sure to please skiers and riders.

 

[Tricia]

AltaBird not owned by Alterra. Both may not participate on IKON pass after 18/19 season now that Solitude is owned by Alterra.

Not happy about the news. More crowds at Solitude and formation of industry duopoly essentially here at this point. I'm bummed about it.

I would bet AltaBird remain independent. Brighton on the other hand could very well be in play. If regulators allow it, I could see Alterra purchasing Brighton. They could make SolBright a destination resort and unlimited on a pass while keeping DV more exclusive and limited on IKON pass.

I can see that and understand the local frustration. We're also seeing some of that at Squaw and Mammoth, more so having to do with senior passes.

As for Alta/Snowbird, I wonder if they'll default to the Mountain Collective?

 

[jmeb]

I don't see that happening.
From their media page on why they chose the name Alterra

About the Name and Logo
The name Alterra is a fusion of the words altitude and terrain/terra, paying homage to the mountains and communities that form the backbone of the company. In the coming months Alterra Mountain Company will announce new season pass products that will provide access to all of our existing mountains, plus many additional benefits, sure to please skiers and riders.

Pretty sure @StuckonI70 was referring to the ski area changing its name: from "Solitude" to "Crowded" since this will likely significantly increase traffic to what was the least crowded resort in the Cottonwoods.

 

[Tricia]

Oops

 

[4ster]

Since I already have an ikon pass, this just means more difficult choices for me.
Maybe, just maybe it will slow the increasing number of users at snowbasin.

 

[Jilly]

Pretty sure @StuckonI70 was referring to the ski area changing its name: from "Solitude" to "Crowded" since this will likely significantly increase traffic to what was the least crowded resort in the Cottonwoods.

That or Crowded wood canyon.

 

[blackke17]

what a disaster, i go from Alta/Bird pass to the Big Cottonwood pass this season. spend 1250. and i could of had the IKON pass w/ unlimited Solitude, 7 days at Alta /7 days at DV , 7 days at Jackson for 400 less...( if i bought it early) ........ so pissed. not to mention there wont be much Solitude up there this year with all the extra visitors!

 

[jmeb]

what a disaster, i go from Alta/Bird pass to the Big Cottonwood pass this season. spend 1250. and i could of had the IKON pass w/ unlimited Solitude, 7 days at Alta /7 days at DV , 7 days at Jackson for 400 less...( if i bought it early) ........ so pissed. not to mention there wont be much Solitude up there this year with all the extra visitors!

That really sucks.

It almost feels like resorts should be forced to offer a refund in this case. You are effectively getting a very different product than you bought given untold thousands will now likely have Solitude included on their passes.

 

[blackke17]

whats worse is that Brighton advertised that you had to purchase by 4-22 to get the best deal and its the same price today for the Big Cottonwood pass.

 

[Wasatchman]

I can see that and understand the local frustration. We're also seeing some of that at Squaw and Mammoth, more so having to do with senior passes.

As for Alta/Snowbird, I wonder if they'll default to the Mountain Collective?

I would expect Alta/Bird just going Mountain Collective after 18/19 season. I know a lot of people on PugSki seem to be rooting for this consolidation, but I feel very strongly that this plain sucks for the ski industry in the near future. I believe that this not only affects locals, but the broader ski industry as you now have two giant corporations with a damn near impenetrable chokehold at this point. I hope I'm wrong, but I feel pretty strongly that this will end up just plain sucking for the general North America ski industry.

 

[Wasatchman]

what a disaster, i go from Alta/Bird pass to the Big Cottonwood pass this season. spend 1250. and i could of had the IKON pass w/ unlimited Solitude, 7 days at Alta /7 days at DV , 7 days at Jackson for 400 less...( if i bought it early) ........ so pissed. not to mention there wont be much Solitude up there this year with all the extra visitors!

Is Solitude for sure going to be included on IKON this upcoming season? I don't think that is for sure yet. In which case you'll be damn glad that you bought Big Cottonwood pass because it will be the last year you're going to have that experience.

EDIT: if deal closes late 3rd quarter Alterra may not have enough time to include unlimited Solitude for IKON pass.

 

[Tricia]

I would expect Alta/Bird just going Mountain Collective after 18/19 season. I know a lot of people on PugSki seem to be rooting for this consolidation, but I feel very strongly that this plain sucks for the ski industry in the near future. I believe that this not only affects locals, but the broader ski industry as you now have two giant corporations with a damn near impenetrable chokehold at this point. I hope I'm wrong, but I feel pretty strongly that this will end up just plain sucking for the general North America ski industry.

I absolutely respect what you're saying and I have my doubts about the long term affect but I am also hopeful that Alterra has a better view based on the leaders in the group and their view of how the other pacman has been gobbling up dots.

 

[tromano]

Makes altera relevant for locals next season e.g. 2019-2020. But too late to change things for 2018-19 as most who were gonna buy one already have a pass.

Makes the DV pass much more attractive too.