Aspen Skiing buying California's Mammoth Resorts ski areas

Aspen Skiing buying California's Mammoth Resorts ski areas
Posted at 1:03 PM, Apr 12, 2017
and last updated 2017-04-12 15:03:01-04

ASPEN, Colo. (AP) — Aspen Skiing Co.'s ski resort acquisition spree is expanding with a deal to buy Mammoth Mountain and three other southern California ski areas.

Mammoth Resorts said Wednesday that it will be purchased by the new joint venture of Aspen Skiing and Denver-based KSL Capital Partners.

Mammoth CEO Rusty Gregory called it "the next logical chapter" for his company.

Mammoth Resorts also owns Snow Summit, Bear Mountain and June Mountain.

Terms of the deal were not disclosed.

The announcement came two days after Aspen Skiing and KSL joined forces to buy Intrawest Resort Holdings for about $1.5 billion, including debt.

Properties it is acquiring in that deal include Steamboat Ski Resort in Colorado, Stratton Mountain in Vermont and the Canadian Mountain Holidays heli-skiing operation in British Columbia.

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