Alterra to Acquire Vermont’s Sugarbush Resort
This will be the company’s second ski resort in the Green Mountain State.
Denver, Colo.-based Alterra Mountain Company announced today that it will purchase Sugarbush Resort in Vermont’s Mad River Valley, adding a 15th resort to the company’s growing resort portfolio and becoming the second ski resort owned and operated by Alterra in Vermont.
“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, CEO of Alterra Mountain Company, in a press release.
Sugarbush, which is already included on Alterra’s Ikon Pass with limited access, will stay on the Ikon with the same restrictions—7 days on the Ikon, 5 days for the Ikon Base—for the upcoming 2019-2020 season. “Sugarbush has been a partner on the Ikon Pass since its inception and we look forward to the opportunities ahead,” continues Gregory. Sugarbush will also remain a part of the Mountain Collective pass this season.
Win Smith, the current President and COO of Sugarbush, will remain in his current role at the ski resort and continue to oversee both daily operations and future capital improvement plans after the transaction is completed.
“Having been a family-owned resort for nearly two decades, we were keen to find the right next owner of Sugarbush Resort,” says Smith in a press release from Alterra. “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.”
2020 Reader Resort Rankings – No. 6: Sugarbush, Vt.
Sugarbush was founded in 1958 and is defined by its two distinct mountains, Mt. Ellen and Lincoln Peak. The purchase also includes the resorts’ health and recreation club, multiple lodging properties, and the Sugarbush Resort Golf Club.
The purchase is expected to close in early 2020 and is subject to certain closing conditions and regulatory approvals. Details and terms of the transaction were not disclosed by Alterra or Sugarbush.
Posted from Ski Magazine
