STEVENS PASS — The venerable Stevens Pass Mountain Resort has changed hands, selling for $67 million to Vail Resorts of Colorado.
Vail announced its acquisition of the ski area at the crest of the Cascades on Monday, along with the separate $155 million purchase of a company that owns three other ski spots in Vermont, New Hampshire and Colorado.
The sales are expected to close this summer, and Vail Resorts plans to invest a further $35 million in its four new resorts over the next two years.
"Upon closing, Vail Resorts plans to retain the vast majority of each resort’s employees and will be working with the local leadership teams in the coming months to determine the right long-term management structure for the resorts," the company said in a press statement.
The 1,100-acre Stevens Pass, opened in 1937, has changed hands a few times in recent years. Current owner Ski Resort Holdings LLC of New York bought the spread in 2016 from CNL Lifestyle ski properties of Orlando, Florida, which bought it in 2011 from longtime operator Harbor Properties for $20 million.
Stevens Pass sits within two national forests, and Vail Resorts said the closing of the purchase and its price will be subject to regulatory approvals. Activity passes that were previously purchased for Stevens will be honored by the new ownership.
Jefferson Robbins: 679-7013