Vail Resorts Acquires Northstar-at-Tahoe™ Resort in California, Expanding Its Collection of Premier North American Mountain Resorts
BROOMFIELD, Colo.—Oct. 25, 2010—Vail Resorts, Inc. (NYSE: MTN) today announced that it has closed on the acquisition of Northstar California in North Lake Tahoe, Calif., one of the premier mountain resort destinations in North America. Vail Resorts acquired the stock of the companies that operate Northstar from Booth Creek Resort Properties LLC and other sellers for total consideration of $63 million. The operations of Northstar are conducted on land owned by CNL Lifestyle Properties, Inc. which will be leased to Vail Resorts under a long-term agreement. Vail Resorts now operates two mountain resorts in the Lake Tahoe region, also operating Heavenly Mountain Resort in South Lake Tahoe. The Sierra-at-Tahoe resort is not part of the acquisition and will continue to be operated by Booth Creek. read more...
About Northstar California Resort
One of the finest year-round mountain resorts in North America, Northstar California is host to a new base area village featuring 35 unique shops and restaurants, a conference center, 9,000 square foot skating rink, on-site lodging, special events and more. A winter sport enthusiast's paradise, Northstar offers 92 ski trails spread across 3,000 acres, award-winning terrain parks and snow sports including alpine and Telemark skiing, snowboarding, cross-country skiing, snowshoeing and tubing. Summer activities include mountain biking, golfing, scenic lift rides for sightseeing and hiking, fly-fishing and more. learn more...
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