• For more information on how to avoid pop-up ads and still support SkiTalk click HERE.

New England Sugarbush is being sold to Alterra

LiquidFeet

instructor
Instructor
Joined
Nov 12, 2015
Posts
6,697
Location
New England
https://www.streetinsider.com/Busin...ire+Sugarbush+Resort+in+Vermont/16129367.html

Quote:
Sugarbush Resort Ikon Pass access will remain the same for winter 2019/2020, with 7-day access on the Ikon Pass and 5-day access with blackouts on the Ikon Base Pass.

The transaction is expected to close in the first quarter of 2020, 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.

Edit to add official Press Release:
ALTERRA MOUNTAIN COMPANY TO ACQUIRE SUGARBUSH RESORT
IN VERMONT
Expanding the Company’s Family of Destinations to 15


DENVER, CO, November 13, 2019 - Alterra Mountain Company announces that it has entered into an agreement to purchase Sugarbush Resort in Vermont, which will bring the company’s total to 15 year-round mountain destinations throughout North America, including the world’s largest heli-skiing operation.


Founded in 1958, Sugarbush Resort is a year-round mountain destination located in the scenic Mad River Valley of Vermont with two distinct mountains - Mt. Ellen and Lincoln Peak - that are joined by a two-mile high-speed quad. Sugarbush also has a fully appointed health and recreation club, multiple lodging properties, and the Sugarbush Resort Golf Club with an 18-hole Robert Trent Jones Sr.-designed golf course. It is also a popular destination for weddings and conferences.


“Sugarbush Resort is a premier East Coast mountain destination and we are excited to expand the Alterra Mountain Company family in the Northeast, with Sugarbush joining Stratton in Vermont,” said Rusty Gregory, Chief Executive Officer, Alterra Mountain Company. “Sugarbush has been a partner on the Ikon Pass since its inception and we look forward to the opportunities ahead.”


Win Smith will stay on as President and COO of Sugarbush Resort and will oversee daily operations of the destination and future capital improvement plans.



“Having been a family-owned resort for nearly two decades, we were keen to find the right next owner of Sugarbush Resort. We are delighted that Sugarbush will join the Alterra Mountain Company family, knowing that Alterra Mountain Company will continue to maintain our culture, values and commitment to our community, while bringing additional capital and other resources to make Sugarbush even better in the years ahead,” said Win Smith, CEO of Summit Ventures NE, LLC.


Since 2001 Sugarbush has invested $74 million in mountain improvements including seven new lifts, significant upgrades to its snowmaking system, and the revitalization of the Lincoln Peak Base area, complete with the Clay Brook Hotel and Residences and the Gate House Lodge, two skier services buildings, the Farmhouse and Schoolhouse, and new slopeside residences.


Sugarbush Resort Ikon Pass access will remain the same for winter 2019/2020, with 7-day access on the Ikon Pass and 5-days access with blackouts on the Ikon Base Pass.


The transaction is expected to close in the first quarter of 2020, 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.


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. Alterra Mountain Company mountain destinations are spread throughout six states and three Canadian provinces: Steamboat and Winter Park Resort 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; Crystal Mountain in Washington; Deer Valley Resort and Solitude Mountain Resort 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, Deer Valley Resort in 2017, plus Solitude Mountain Resort and Crystal Mountain in 2018.


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 18/19, the new standard in season passes. The Ikon Pass now offers skiers and riders access to 41 mountain destinations throughout the Americas, Europe, Australia, New Zealand, and Japan, including 14 Alterra Mountain Company destinations, plus 27 global partner destinations.
 
Last edited by a moderator:

TheArchitect

Working to improve all the time
Skier
SkiTalk Supporter
Joined
Dec 4, 2016
Posts
3,383
Location
Metrowest Boston
Just read Win’s email.

Me too. He makes a lot of good points. Dealing with Climate Change is going to be expensive and they don’t have the resources they need to do it. He mentioned the Peak sale as being the trigger for selling. I guess he saw the writing on the wall for competing with Vail and Alterra.

I love Sugarbush and I’m cautiously optimistic about this. We’ll see how the crowds change if/when they go full access next season.

I’m glad Win is staying on.

Alterra, go get Jay now!
 

Scruffy

Making fresh tracks
Skier
SkiTalk Supporter
Joined
Nov 16, 2015
Posts
2,429
Location
Upstate NY
Wowzer! Oh geeze this makes the IKON vs EPIC decision harder for me next year :huh:
 

TheArchitect

Working to improve all the time
Skier
SkiTalk Supporter
Joined
Dec 4, 2016
Posts
3,383
Location
Metrowest Boston
Wowzer! Oh geeze this makes the IKON vs EPIC decision harder for me next year :huh:

To me, the only thing that Epic has over Ikon in New England is the resorts closer to Boston. It would be nice to have a Southern VT or NH resort on the Ikon pass. I can't think of one that fits the "Ikonic" profile, though.

And before @Josh Matta gets too upset, I love Stowe and it's a great jewel in the Epic portfolio! ogwink
 
Thread Starter
TS
LiquidFeet

LiquidFeet

instructor
Instructor
Joined
Nov 12, 2015
Posts
6,697
Location
New England
The current owners just sent out a lovely email. SB was already an IKON Partner resort so now they'll be like stratton and unlimited.

Here it is.
https://www.sugarbush.com/blog/wins-word/changing-but-not-saying-goodbye/

Quote:
I have been asked to remain as president for as long as I wish in order to facilitate a smooth transition, to maintain our commitment to our guests and to the entire Sugarbush community, and to prepare the next generation of leaders to succeed me when I decide to move on to a third career. More importantly, Alterra Mountain Company wants our entire Sugarbush team to remain in place. They are buying a place they believe is working well and do not have plans to change our mission, our values, our brand, our culture, or our team. They recognize our commitment to the Mad River Valley community and want that to continue as well.
 

surfsnowgirl

Instructor
Skier
Joined
May 12, 2016
Posts
5,764
Location
Magic Mountain, Vermont
I'm not an epic girl and I think this completes the IKON portfolio quite nicely. I mean they were a part of it before but next season will be even more of a player. We've got Stratton, Killington, Sugarbush and if we were so inclined Loon so those alone are great for us. I don't think the future unlimited factor will benefit us but it'll be nice for those that frequent the bush more often.
 

Scruffy

Making fresh tracks
Skier
SkiTalk Supporter
Joined
Nov 16, 2015
Posts
2,429
Location
Upstate NY
I live near one of the old Peak resorts, but I've bought IKON as well as a Peak pass last season and this season. I like skiing the IKON portfolio-- Sugarbush included. I also like skiing Stowe, but to buy EPIC and IKON next year is a financial bridge too far--most likely, we'll see next year what the prices are--most likely up.
 

Sponsor

Staff online

Top