Ski resort operator Vail Resorts is pursuing its strategy of increasing visitors through acquisitions with its latest purchase.
Canadian company Whistler Blackcomb will soon be part of the Vail family as the latter continues to scout for ski spots near urban areas in a move to expand its season pass program.
The deal is valued at around $1 billion, with Whistler stockholders receiving cash and common share remuneration. Whistler chief executive Dave Brownlie said that the merger with Vail will assure the long term future of its resorts in the face of the increasing unpredictability of weather patterns, which change every year.
Vail has reserved one board seat for a Whistler member, while Brownlie will continue as the resort’s chief operating officer.
Whistler will be part of the Vail season pass portfolio beginning in the 2017-2018 ski season.
Recently, Vail acquired the Wilmot Mountain Ski Resort in Wisconsin, also as part of its broad strategy to lure urbanites to mountain locations for winter holidays.
The two companies expect to seal the deal by fall this year.