Vail Resorts have bought Perisher in Australia, the country’s largest ski area and one of the biggest in the Southern Hemisphere.
It’s the latest purchase by one of the world’s biggest ski resort operators making it the first since Intrawest, which formerly operated Arc 1950 at Les Arcs, part of Flaine and a Madrid snowdome in Spain, to run ski areas on two continents.
Vail Resorts, which owns 10 ski areas in the US including Vail, Heavenly, Park City and Breckenridge say they paid AU$176.6 million (approximately US$136 million) for Perisher. The deal is subject to approval by the New South Wales Government under a long-term lease and license which runs to 2048 with a 20-year renewal option.
The acquisition includes the resort areas known as Perisher Valley, Smiggin Holes, Blue Cow and Guthega, along with ski school, lodging, food and beverage, retail/rental and transportation operations, which together comprise Perisher.
“The acquisition of our first international mountain resort is a significant milestone for our Company. We’re thrilled to welcome the guests and employees of Perisher, Australia’s largest and most iconic resort, into the Vail Resorts family and deepen ties with one of our most important international markets,” said Rob Katz, chairman and chief executive officer of Vail Resorts. “This acquisition is part of Vail Resorts’ continued strategy to drive season pass sales and build loyalty with guests from around the world. Australia is one of the most important international markets for ski resorts across the Northern Hemisphere, generating an estimated more than 1 million skier visits annually to resorts in North America, Japan and Europe.”
