Vail Resorts, Inc. announced it has closed on its acquisition of Kirkwood Mountain Resort at Lake Tahoe, Calif., recognized by skiers and snowboarders as offering some of the best high alpine advanced terrain in North America. Vail Resorts now operates three world-class mountain resorts in the Lake Tahoe region including Heavenly Mountain Resort and Northstar California.
The transaction includes the Kirkwood ski resort and undeveloped sites at the center of the base area. The deal closed for approximately $18 million. The seller retains a participation interest in the base area and continues to own the remainder of the real estate development sites.
Vail Resorts also announced that the power plant owned by Kirkwood Meadows Public Utility is now fully operational and should provide reliable power service to Kirkwood for many years.
Season Passes: Heavenly, Northstar, Kirkwood
This season, Heavenly and Northstar pass holders were allowed to ski and ride at Kirkwood and Kirkwood pass holders could visit Northstar and Heavenly. They have already seen thousands of reciprocal visits at the three resorts.
With the previous announcement of the Kirkwood acquisition, Vail Resorts immediately began including Kirkwood in its industry-leading season pass offering.
They recently announced the new Tahoe Local Pass that provides access to more than 10,000 total skiable acres between Kirkwood, Heavenly Mountain Resort and Northstar California, marking the most combined terrain in Tahoe. Tahoe Local Pass holders receive full access to all three Tahoe resorts for $80 less than last year’s comparable Epic Local Pass in Colorado.
Tahoe Local Pass Options
New for 2012-13, the Tahoe Local Pass offers skiing and riding all week at Heavenly, Northstar, and Kirkwood resorts for $419. The Tahoe Local Pass includes access on Saturdays at all three Tahoe resorts with limited holiday restrictions and $50 pass holder tickets available for purchase during blackout dates.
The Tahoe Value Pass™ is $379 and includes skiing or riding all week at Heavenly, skiing and riding at Northstar and Kirkwood on Sunday-Friday, with restrictions on all Saturdays at Northstar and Kirkwood. Holiday restrictions apply, but pass holders can purchase a $50 ticket to any of the three resorts on restricted dates.
The Epic Pass™ offers unlimited, unrestricted skiing at Vail, Beaver Creek, Breckenridge, Keystone, Heavenly, Northstar, Kirkwood and Arapahoe Basin for $659. This pass is considered the best deal in the ski industry.
The Epic 7-Day™ is ideal for people who don’t plan to ski more than seven days. The Epic 7-Day gives skiers and snowboarders a total of seven unrestricted days of skiing at Vail, Beaver Creek, Breckenridge, Keystone, Heavenly, Northstar and Arapahoe Basin anytime during the season for $509.
The prices may only be guaranteed through April 15, 2012, and Vail Resorts is giving guests the option to lock in these prices now with a $49 down payment, with the remainder of the balance due in mid- September 2012. Tahoe Local and Tahoe Value Passes purchased before April 15 will receive six Buddy Tickets as an added benefit (after the 15th, passes will only come with two Buddy Tickets). For more information about 2012-2013 season passes, visitwww.epicpass.com.
About Vail Resorts
Vail Resorts is the leading mountain resort operator in the United States. The Company's subsidiaries operate the mountain resorts of Vail, Beaver Creek, Breckenridge and Keystone in Colorado, and Heavenly, Northstar and Kirkwood in the Lake Tahoe area of California and Nevada, and the Grand Teton Lodge Company in Jackson Hole, Wyoming.
Vail Resorts Development Company is the real estate planning, development and construction subsidiary of Vail Resorts, Inc. Vail Resorts is a publicly held company traded on the New York Stock Exchange (NYSE: MTN). The Vail Resorts company website is VailResorts and consumer website is Snow.com.