Alterra Mountain Co., Steamboat Ski & Resort Corp. parent, to acquire Vermont ski resort
STEAMBOAT SPRINGS — Alterra Mountain Co. announced Wednesday that it has entered into an agreement to purchase Sugarbush Resort in Vermont, which will bring the company’s total to 15 year-round mountain destinations throughout North America, including the world’s largest heli-skiing operation.
Founded in 1958, Sugarbush Resort is a year-round mountain destination located in the Mad River Valley of Vermont with two distinct mountains, Mt. Ellen and Lincoln Peak, which are joined by a 2 mile high-speed quad. Sugarbush also has a fully appointed health and recreation club, multiple lodging properties, and the Sugarbush Resort Golf Club with an 18-hole Robert Trent Jones Sr.-designed golf course. It is also a popular destination for weddings and conferences.
“Sugarbush Resort is a premier East Coast mountain destination and we are excited to expand the Alterra Mountain Co. family in the Northeast, with Sugarbush joining Stratton in Vermont,” said Rusty Gregory, chief executive of Alterra Mountain Co., parent company of Steamboat Ski & Resort Corp. “Sugarbush has been a partner on the Ikon Pass since its inception and we look forward to the opportunities ahead.”
Win Smith will stay on as president and COO of Sugarbush Resort and will oversee daily operations of the destination and future capital improvement plans.
Sugarbush Resort Ikon Pass access will remain the same for winter 2019/2020, with 7-day access on the Ikon Pass and 5-days access with blackouts on the Ikon Base Pass.
The transaction is expected to close in the first quarter of 2020, and is subject to certain closing conditions, including regulatory approvals. Terms of the transaction were not disclosed. More details will be released once the transaction has closed.
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