By KRISTEN WYATT
DENVER (AP) – A ski resort company that stretches from Canada’s Quebec to the U.S. state of Colorado has been acquired by the Aspen Skiing Co. The deal sets up seismic changes in an industry with few multistate ski operators.
Aspen Skiing Co. announced Monday it was partnering with Denver-based KSL Capital Partners to acquire Intrawest Resorts Holdings for about $1.5 billion, including debt.
Intrawest owns resorts in Colorado, Vermont, West Virginia, and in the Canadian provinces of Quebec and Ontario, including Showshoe in Pocahontas County. The deal also includes the world’s largest helicopter skiing company, which is based in British Columbia. The consolidation gives the industry a huge new player.
Aspen Skiing previously resisted consolidation with larger owners. The acquired resorts keep the Intrawest name. Aspen Skiing CEO Mike Kaplan says skiers will see few changes.
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