Vail Resorts, Inc. added a sparkling new jewel to its crown today with the acquisition of its first international mountain resort, Perisher Ski Resort in New South Wales, Australia, for $134.8 million. Perisher is the largest and most visited ski resort in Australia with access to the country’s biggest cities, including Sydney, Melbourne, Adelaide, Canberra, and Brisbane. The acquisition includes the resort areas known as Perisher Valley, Smiggin Holes, Blue Cow, and Guthega, along with ski school, lodging, food and beverage, retail/rental and transportation operations, which together comprise Perisher, Australia's largest resort.
Perisher opened early this year on June 5, after 12 inches of fresh snow fell and weather conditions were friendly for snowmaking.
Vail Resorts announced their plans to purchase Perisher last March, saying they will offer a free Epic Pass -- the season pass that gets holders into any of the Vail properties except those in Minnesota and Michigan -- to all holders of Perisher's Freedom Pass. The same courtesy will be extended to Epic Pass holders, who could take advantage of the southern-hemisphere resort having its ski season during the upcoming summer months.
This acquisition comes after Vail Resorts purchased Park City Mountain Resort for $182.5 million (in cold, hard cash money) last September, planning to link it to the nearby Canyons resort it already operated and create the largest ski area in the U.S. The corporation also owns and operates the Vail, Beaver Creek, Breckenridge and Keystone ski areas in Colorado. It has also acquired Kirkwood, in the Lake Tahoe area, and secured Afton Alps and Mount Brighton in the Midwest.