Vail Resorts Closes Its Acquisition of Okemo Mountain Resort, Mount Sunapee Resort and Crested Butte Mountain Resort
- Passes for the 2018-19 season are currently on sale, with prices increasing
With the addition of
"We are thrilled to offer pass holders even more one-of-a-kind experiences in the northeast and in
Today's acquisition closure on
Following today's closing, Vail Resorts plans to invest $35 million over the next two years across the four resorts to continue to elevate the guest experience. In addition, annual ongoing capital expenditures are expected to increase by
2018-19 season pass options for
Epic Pass™: For $929, the Epic Passoffers unlimited, unrestricted access to 19 mountain resorts plus additional access to 46 more, including 20 new mountains for the 2018-19 season. Discover 65 of the world's premier resorts throughout the United States, Canada, Australia, Japan, France, Switzerland, Italy, and Austria. The Epic Passpays for itself in just over four days of skiing or snowboarding. Enjoy unlimited, unrestricted access to Vail, Beaver Creek, Breckenridge, Keystone, Crested Butteand Arapahoe Basinin Colorado; Park Cityin Utah; Heavenly, Northstarand Kirkwoodat Lake Tahoe; Stoweand Okemo in Vermont; Mount Sunapeein New Hampshire; Stevens Passin Washington; Afton Alps in Minnesota; Mt. Brightonin Michigan; Wilmot Mountainin Wisconsin; Whistler Blackcomb in Canada; and Perisher in Australiafor the 2019 season. New for the 2018-19 season, Epic Passholders will receive seven days of skiing or snowboarding with no blackout dates at both Telluridein Coloradoand at Resorts of the Canadian Rockies ( Fernie Alpine Resort, Kicking Horse Mountain Resortand Kimberley Alpine Resortin British Columbia, Nakiska in Alberta, and Mont-Sainte Anne and Stonehamin Quebec), in addition to five total consecutive days with no blackout dates at Hakuba Valley'snine ski resorts in Japan. The Epic Passalso grants limited access to Les 3 Vallées, Paradiski and Tignes-Val D'Isere in France; 4 Vallées in Switzerland; Arlberg in Austriaand Skirama Dolomiti in Italy. A child pass (ages five to 12) is $479. Epic Local Pass™: For $689, guests receive access to 27 resorts, including unlimited, unrestricted access to Breckenridge, Keystone, Crested Butte, Okemo, Mount Sunapee, Stevens Pass, Arapahoe Basin, Wilmot, Afton Alps and Mt. Brightonwith limited restrictions at Park City, Heavenly, Northstar, Kirkwood, and Stowe, plus a combined total of 10 days at Vail, Beaver Creek, and Whistler Blackcomb with holiday restrictions. The Epic Local Passpays for itself in just over three days. New for the 2018-19 season, Epic Local Passholders will receive access to 13 new mountains including Crested Butte, Okemo, Mount Sunapee, Stevens Passplus five total consecutive days with no blackout dates at Hakuba Valley'snine ski resorts in Japan. A child pass (ages five to 12) is $369.
- Epic 7-
Day Pass™: For $689, receive a total of seven unrestricted days valid at Vail, Beaver Creek, Breckenridge, Telluride, Keystone, Crested Butte* and Arapahoe Basinin Colorado; Park Cityin Utah; Heavenly, Northstarand Kirkwoodat Lake Tahoe; Stoweand Okemo* in Vermont; Mount Sunapee* in New Hampshire; Stevens Passin Washington; Whistler Blackcomb, Fernie Alpine Resort, Kicking Horse Mountain Resort, Kimberley Alpine Resort, Nakiska, Mont-Sainte Anne and Stonehamin Canada; plus an additional 7 free days total at Afton Alps in Minnesota; Mt. Brightonin Michigan; Wilmot Mountainin Wisconsin. After the seven days, regardless of the resort at which they were redeemed, pass holders can get 20 percent off additional lift tickets at Telluride. A child pass (ages five to 12) is $369.
- Epic 4-Day Pass™: For
$479, a convenient option for a short ski trip as the pass pays for itself in just over two days and includes a total of four unrestricted days valid at Vail, Beaver Creek, Breckenridge, Telluride, Keystone, Crested Butte* and Arapahoe Basinin Colorado; Park Cityin Utah; Heavenly, Northstarand Kirkwoodat Lake Tahoe; Stoweand Okemo* in Vermont; Mount Sunapee* in New Hampshire; Stevens Passin Washington; Whistler Blackcomb, Fernie Alpine Resort, Kicking Horse Mountain Resort, Kimberley Alpine Resort, Nakiska, Mont-Sainte Anne and Stonehamin Canada; plus an additional 4 free days total at Afton Alps in Minnesota; Mt. Brightonin Michigan; Wilmot Mountainin Wisconsin. After the four days, regardless of the resort at which they were redeemed, pass holders can get 20 percent off additional lift tickets at Telluride. A child pass (ages five to 12) is $259. Military Epic Pass: In celebration of the 10th anniversary of the Epic Passon March 18, 2018, Vail Resortsis honoring the epic service of the Company's founders from the U.S. Army's 10th Mountain Division, and the men and women of the U.S. Armed Forces, Canadian Armed Forces and Australian Defence Force with the introduction of a new $129 Military Epic Passfor active and retired military personnel and their dependents – more than an 85-percent off the regular Epic Passprice. Additionally, as the first of its kind in the mountain resort industry, all other U.S., Canadian and Australian veterans and their dependents are eligible for a $529 Military Epic Pass, which offers more than a 40-percent discount off the regular price ( $289for children under 18 years of age). Vail Resortswill donate $1for every 2018-19 season pass sale to Wounded Warrior Project® to benefit wounded veterans and their families, which would exceed $750,000based on last year's sales. Visit www.epicpass.com/military for all details on military pass options.
Vail Resorts will continue to offer pre-existing 2018-19 season pass products for Okemo,
Forward Looking Statements
Statements in this press release, other than statements of historical information, are forward-looking statements within the meaning of the federal securities laws, including our expectations regarding capital investments across the four resorts over the next two years. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include but are not limited to prolonged weakness in general economic conditions, including adverse effects on the overall travel and leisure related industries; unfavorable weather conditions or the impact of natural disasters; willingness of our guests to travel due to terrorism, the uncertainty of military conflicts or outbreaks of contagious diseases, the cost and availability of travel options and changing consumer preferences; the seasonality of our business combined with adverse events that occur during our peak operating periods; competition in our mountain and lodging businesses; high fixed cost structure of our business; our ability to fund resort capital expenditures; our reliance on government permits or approvals for our use of public land or to make operational and capital improvements; risks of delay associated with governmental and third party approvals of the transactions; risks related to a disruption in our water supply that would impact our snowmaking capabilities and operations; risks related to federal, state, local and foreign government laws, rules and regulations; risks related to our reliance on information technology, including our failure to maintain the integrity of our customer or employee data; our ability to hire and retain a sufficient seasonal workforce; risks related to our workforce, including increased labor costs; loss of key personnel; adverse consequences of current or future legal claims; a deterioration in the quality or reputation of our brands, including our ability to protect our intellectual property and the risk of accidents at our mountain resorts; our ability to successfully integrate acquired businesses or that acquired businesses may fail to perform in accordance with expectations, including Whistler Blackcomb and
All forward-looking statements attributable to us or any persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. All guidance and forward-looking statements in this press release are made as of the date hereof and we do not undertake any obligation to update any forecast or forward-looking statements whether as a result of new information, future events or otherwise, except as may be required by law.
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