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 Post subject: Mammoth bought by Aspen / KSL Capital Partners
PostPosted: Wed Apr 12, 2017 7:54 am 
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Climax
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Location: Hidden Valley St Louis, MO- 310 really BIG vertical ft
Google it.
Another one bites the dust.

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First On - Last Off ...and I really joined Nov. '01
I wasn't born to ski, I was born to work... But then I got layed off.


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 Post subject: Re: Mammoth bought by Aspen / KSL Capital Partners
PostPosted: Wed Apr 12, 2017 8:24 am 
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Climax
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Hmm....
Our passes are still good for next season at least ;)


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 Post subject: Re: Mammoth bought by Aspen / KSL Capital Partners
PostPosted: Wed Apr 12, 2017 8:38 am 
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Dave's Run
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I really hope this doesn't mean the end of the California pass :cry:

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 Post subject: Re: Mammoth bought by Aspen / KSL Capital Partners
PostPosted: Wed Apr 12, 2017 9:15 am 
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Rodger's Ridge
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Location: Little slice of heaven in the Eastern Sierra
Thanks for the 411 pkerr. Maybe this was a good year to buy my last MVP. :worried:

New Aspen partnership buys Mammoth resorts, challenges Vail Resorts’ dominance in season pass sales

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 Post subject: Re: Mammoth bought by Aspen / KSL Capital Partners
PostPosted: Wed Apr 12, 2017 9:24 am 
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Rodger's Ridge
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Mammoth Resorts to be Acquired by Affiliates of Aspen Skiing Company and KSL Capital Partners
From Starwood Capital Group
Aspen and Denver, Colorado, April 12, 2017 – Mammoth Resorts, the owner of Mammoth Mountain Ski
Area, Snow Summit, Bear Mountain and June Mountain, today announced that it has entered into a definitive
agreement to be acquired by a newly formed entity controlled by affiliates of the Aspen Skiing Company, L.L.C.
(“Aspen”) and KSL Capital Partners, LLC (“KSL”). A Starwood Capital Group controlled affiliate owns a
majority interest in Mammoth Resorts. The transaction is expected to close by the end of the third quarter of
2017, and is subject to certain closing conditions, including regulatory approvals. Terms of the transaction were
not disclosed. KSL and Aspen previously announced plans to acquire Intrawest Resorts Holdings, Inc. through
this new entity.
“Mammoth has been Southern California’s mountain home since 1948,” said Rusty Gregory, Chairman and
CEO of Mammoth Resorts. “After doubling down on our offerings to Southern California with the purchase of
Snow Summit and Bear Mountain in 2014, joining this new venture led by Aspen and KSL is the next logical
chapter in the story of Mammoth Resorts. This new platform, built around a collective passion for the mountains
and our commitment to the people who visit, work and live there, is exactly what the ski resort business needs.
I am excited about the future prospects for Mammoth Resorts, our people and this new enterprise.”
“We have taken great pride in our ownership of Mammoth over the last 12 years. We invested in the mountains,
our people, and planning for the long term future. Together with Mammoth’s talented management team, we
successfully navigated a very tumultuous period. We implemented state-of-the-art marketing programs, installed
modern RFID technology to improve traffic flow, and we added significant new lift capacity. By also acquiring
and integrating Bear Mountain and Snow Summit into Mammoth we cemented Mammoth Resorts' position as
the leading provider of ski and summer mountain experiences for all of Southern California,” said Barry
Sternlicht, Chairman and CEO of Starwood Capital Group. “We had greater plans for Mammoth but the Great
Recession and then some less favorable weather, interfered with our strategic aspirations in a finite life
investment vehicle. We know Aspen and KSL have the experience, commitment, and balance sheet to help
make our vision a reality.”
“If you live in Southern California and want to ski, Mammoth, June, Bear and Snow Summit universally come
to mind first,” said Eric Resnick, CEO of KSL. “This transaction will allow the combined company to better
serve Mammoth’s loyal customers while at the same time exposing these world-class resorts to a broader
audience. Mammoth Resorts does so many things well. We are excited to learn from their talented team.”
“Mammoth is a special place. The landscape is spectacular, the mountain is phenomenal and the place is in
constant motion. Whether it’s the vibrant park and pipe scene, the high quality alpine racing programs, or
excellent mountain biking, Mammoth has it all,” said Mike Kaplan, CEO of Aspen. “At the same time, Bear
and Snow Summit serve local skiers perhaps better than anyone in the industry with high quality skiing and
riding right on the doorstep of Southern California. We couldn’t be more pleased to work with these
extraordinary properties.”
Season Passes
For the full 2017-18 winter season, Mammoth will continue to honor the resort’s existing pass products that are currently on sale, including the Mountain Collective.


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 Post subject: Re: Mammoth bought by Aspen / KSL Capital Partners
PostPosted: Wed Apr 12, 2017 9:25 am 
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Center Bowl
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Vail versus Aspen, fight to the death.

May the best resort portfolio win.

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 Post subject: Re: Mammoth bought by Aspen / KSL Capital Partners
PostPosted: Wed Apr 12, 2017 9:27 am 
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Dave's Run
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That Denver Post article spells out the logic pretty well. I do get to Tahoe, so having a pass good at Squaw/Alpine would be nice, and justify the extra cost. Hopefully this just brings legit competition to the Epic pass, the way the initial MVP-style passes pushed resorts to have cheap season passes way back then.

Guess those were Aspen-ites tracking up the top last weekend after all.


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 Post subject: Re: Mammoth bought by Aspen / KSL Capital Partners
PostPosted: Wed Apr 12, 2017 9:40 am 
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Center Bowl
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Location: Simi Valley, CA
Sierra Lady wrote:
Thanks for the 411 pkerr. Maybe this was a good year to buy my last MVP. :worried:



After reading this I was thinking that this might be my last year for the pass too. I have no use for out of state resorts as flying to ski destinations is not easy or cheap. Even hotel rates in Mammoth are astronomical right now. And I had my reservations booked well before this epic season started just as I have my reservations already booked for next season. Well have to wait and see.


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 Post subject: Re: Mammoth bought by Aspen / KSL Capital Partners
PostPosted: Wed Apr 12, 2017 9:44 am 
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Center Bowl
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I just tabled it up. I think I got them all.

Image

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 Post subject: Re: Mammoth bought by Aspen / KSL Capital Partners
PostPosted: Wed Apr 12, 2017 9:46 am 
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Dragon's Back
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Location: Swansea, Owen's Lake Yacht Club
hmm,,

So do they own Bear and Summit now too?


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 Post subject: Re: Mammoth bought by Aspen / KSL Capital Partners
PostPosted: Wed Apr 12, 2017 9:48 am 
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Center Bowl
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psg wrote:
I just tabled it up. I think I got them all.

Image


Nice chart. Thank you.


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 Post subject: Re: Mammoth bought by Aspen / KSL Capital Partners
PostPosted: Wed Apr 12, 2017 9:48 am 
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Rodger's Ridge
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Joined: Wed Oct 29, 2008 8:24 pm
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Maybe J1 will finally get replaced without the pennies from ils' gofundme project lol


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 Post subject: Re: Mammoth bought by Aspen / KSL Capital Partners
PostPosted: Wed Apr 12, 2017 9:54 am 
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Center Bowl
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SkierBob wrote:
hmm,,

So do they own Bear and Summit now too?


Yep.

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 Post subject: Re: Mammoth bought by Aspen / KSL Capital Partners
PostPosted: Wed Apr 12, 2017 10:14 am 
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Kiwi Flat
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Location: In the gurgling maw of the Pacific.
They are pretty militant w Aspen. They may shut down the forum for dissent.


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 Post subject: Re: Mammoth bought by Aspen / KSL Capital Partners
PostPosted: Wed Apr 12, 2017 10:21 am 
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Rodger's Ridge
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Strongly negative reaction on Instagram.

I was surprised to see that Vail sold 650,000 Epic Passes. If they were all adult passes that would be something like $560 million.


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