Vail buys 2 resorts in Australia

BROOMFIELD — Vail Resorts Inc. (NYSE: MTN) has entered into an agreement to Australian Alpine Enterprises Holdings Pty. Ltd, a firm that owns and operates Falls Creek Alpine Resort and Hotham Alpine Resort in Victoria, Australia.

The acquisition, which is expected to close in June, includes the ski school, retail and rental, reservation and property management operations at both resort areas, according to a Vail Resorts news release.

The purchase price is $174 million Australian dollars (about $124 million U.S).

“We are thrilled to welcome the guests and employees of both Falls Creek and Hotham into the Vail Resorts family and further strengthen our position in Australia, which is one of our most important international markets,” Vail CEO Rob Katz said in a prepared statement. “The acquisition of the leading mountain resorts in Victoria is part of our continued strategy to drive season pass sales and build loyalty with guests from around the world.”

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