Utah's Deer Valley Sold In Ski Industry Consolidation
Deer Valley Resort in Utah is being purchased by a new company that now has 13 ski areas from Quebec to Colorado, marking the latest deal in an industry that is becoming more consolidated.
The resort announced Monday in a news release that it is being sold to an ownership group that owns Mammoth and Squaw Valley in California and Steamboat and Winter Park in Colorado. The yet-to-be named company is run by affiliates of KSL Capital Partners and Henry Crown and Company.
The purchase price was not disclosed in the deal expected to be finalized before ski season. Deer Valley had been owned by the Stern family.
The new company is set up to challenge Vail Resorts, which acquired Canada's Whistler Blackcomb last year and owns 14 total ski areas.