Vail Resorts shook up the ski-resort world earlier this month with their announcement of its intent to acquire the Whistler Blackcomb ski resort in Canada; a deal that Vail Resorts CEO Rob Katz says “comes at the right time” for both companies.
According to a Vail Resorts release detailing the deal, the corporation will continue Whistler’s support for a “master development agreement” with parties including the Squamish and Lil’wat Nations, as well as the Province of British Columbia and the city of Whistler.
The release also states that Whistler will continue to have “principally local Canadian leadership,” with day-to-day operations run from Whistler. With the exception of some employees who may have duplicate corporate functions, the release states that Vail Resorts intends to retain the “vast majority” of Whistler Blackcomb employees.
Vail Resorts also stated its intent to “invest substantially” in resort improvements and continue the Canadian resort’s current and planned environmental sustainability initiatives.
Pending Canadian government approval, the companies hope to finalize the deal this fall – closing in the next two to four months.
The Facts:
- Vail Resorts Epic Pass is valid at Whistler for the 2017/18 ski season. It will not be part of the Epic Pass for the 2016/17 season.
- $1.06 billion in U.S. currency, paid in both cash and stock to Whistler Blackcomb stockholders.
- Whistler Blackcomb shareholders will receive a cash payment of $17.50 per share, and will receive .0975 shares of Vail Resorts stock per share. The total payment adds up to $36 per share — $27.36 per share in U.S. currency.
- In the last fiscal year, an estimated two million skiers visited Whistler Blackcomb resort generating a record $241 million in revenue, according to the resort.
Resort Statistics:
Two side-by-side mountains; Whistler and Blackcomb are connected by the Guinness World Record-holding PEAK 2 PEAK Gondola and supported by one of the largest networks of high-speed chairlifts in the world.
- 8,171 acres of terrain.
- Over 200 marked runs.
- 37 Lifts.
- 16 alpine bowls.
- Three glaciers.
- Receives on average 461 inches of snow annually.
- Features one of the longest ski seasons in North America.
- 17 Mountain Restaurants.
- Highest Lift Elevation: 7,494 feet.
- Whistler Village Elevation: 2,214 feet.
- Creekside Base Elevation: 2,140 feet.
Click here to learn more about the Whistler Blackcomb Ski Resort!
