A Colorado partnership that includes Aspen Skiing Co. and KSL Capital Partners acquired Mammoth Resorts from a Starwood Capital Group-controlled affiliate that owns a majority interest. The deal consolidates control of four California ski resorts, Mammoth Mountain and June Mountain in the Eastern Sierra, and Bear Mountain and Snow Summit in SoCal’s San Bernardino Mountains.
The deal is expected to close by fall, though terms were not disclosed. The KSL-Aspen Skiing partnership will operate 12 resorts that attract roughly seven million skiers annually. Mammoth Mountain is the largest of the acquired resorts, annually drawing roughly two million visitors.
KSL and Aspen Skiing just acquired Denver-based Intrawest Resorts Holdings for $1.5 billion, adding six mountain resorts and 1,100 acres of land to its holdings. The acquisitions reflect a larger consolidation trend in the ski industry.
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