Mr. Luxury Ski
Vail Resorts is buying Canada's Whistler Blackcomb Holdings Inc. in a cash and stock deal valued just north of $1 billion USD.
When the deal is finalized this fall, Vail Resorts will add North America's largest and busiest resort to its considerable portfolio of properties in Colorado, Utah, and California.
"Whistler Blackcomb is one of the most iconic mountain resorts in the world," Vail Resorts CEO Rob Katz said in a statement announcing the details of the deal. "We will build upon the guest experience at Whistler Blackcomb while preserving the unique brand and character of the resort as an iconic Canadian destination for guests around the world."
The purchase agreement outlined a series of joint commitments, including upholding Whistler Blackcomb's Master Development Agreements with Canada's Squamish and Lil'wat First Nations.
Vail Resorts' shareholders saw the stock rise nearly eight percent in one day on the news. The company's passholders will have to wait a little longer to see any return on investment, with CEO Katz announcing that Whistler won't be integrated into Vail Resorts' Epic Pass products until the 2017-18 season.