BROOMFIELD — Vail Resorts Inc. (NYSE: MTN) has closed on its acquisition of the Stowe Mountain Resort in Vermont, the company announced June 7.
Vail acquired the resort from Mt. Mansfield Co. Inc., a wholly owned subsidiary of American International Group Inc. The final purchase price was $41 million, reduced from the $50 million originally announced after adjustments based on agreed-upon terms. The acquisition marks Vail Resorts’ first east coast ski area and 13th property overall.
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As part of the transaction, Vail Resorts acquired all of the assets related to the mountain operations of the resort, including base area skier services (food and beverage, retail and rental, lift ticket offices and ski and snowboard school facilities) at Mount Mansfield and Spruce Peak.
The company also announced that Stowe Mountain Resort is now included on the Epic Pass and Epic Local Pass for the 2017-2018 winter season. The Epic Pass, at $859 for adults, will offer unlimited, unrestricted access to Stowe next winter, as well as to 45 other mountain resorts, including Vail, Beaver Creek, Breckenridge, Keystone and Arapahoe Basin in Colorado; Whistler Blackcomb in Canada; Park City in Utah; Heavenly, Northstar and Kirkwood at Lake Tahoe; Perisher in Australia; Afton Alps in Minnesota; Mt. Brighton in Michigan and Wilmot Mountain in Wisconsin.