PHOTO: Courtesy Deer Valley Resort
A newly formed resort company, controlled by KSL and Henry Crown and Company, have entered into a definitive agreement to acquire Deer Valley Resort, according to an August 21 press release.
The new joint venture, comprised of Intrawest Resorts, Inc., Mammoth Resorts, and Squaw Valley Ski Holdings, will be adding Deer Valley to its existing 12 other resorts across North America. A name for the new "North American mountain resort and adventure company" is set to be announced before ski season.
Apart from coming under new ownership, Deer Valley is expected to continue business as usual for the upcoming 2017/18 ski season. The Park City, Utah, resort will honor all existing season passes, as well as maintaining all current season pass program benefits, including the Wasatch Benefit and Solitude and Steamboat pass exchanges. Deer Valley will also continue to be a ski-only resort.
"Deer Valley is a special place and being part of its growth has been one of the great joys of my life," said Bob Wheaton, president and general manager of Deer Valley Resort. "Joining this portfolio of resorts will enable Deer Valley to build upon its outstanding traditions and further enhance our ability to provide our guests with a world class skiing experience."
Wheaton will remain in his position as Deer Valley's general manager, while Bryan Traficanti from KSL will be serving as interim CEO for the newly formed company while they begin the search process for a new CEO.
While a purchase price was not disclosed, the transaction is anticipated to close before the upcoming ski season.