Ski conglomerate goes with Alterra as name, ski pass options to come
The joint venture of affiliates of KSL Capital Partners and Henry Crown and Co., which owns Aspen Skiing Co., has a name, and an announcement related to a new pass product is on the horizon, officials said Thursday.
The newly formed conglomerate of 12 resorts announced Thursday its name is Alterra Mountain Co. The venture formed in April will compete against Vail Resorts, which operates 11 resorts and three urban ski areas.
Henry Crown and Co. is a minority investor in Alterra and still independently owns the four Skico resorts.
In April, Alterra purchased Intrawest Resorts, which included Steamboat, Tremblant in Quebec, Blue Mountain Ontario, near Toronto, Stratton in Vermont, West Virginia’s Snowshoe, as well as Canadian Mountain Holidays, which offers heli-skiing adventures.
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Two days later, Alterra added four resorts operated by Mammoth Resorts and then expanded into the Utah market with the purchase of Deer Valley in August.
Alterra plans to announce a new ski-pass product in the coming months to compete with Vail Resorts, which had about 12 million skier visits during the 2016-17 season.
“We’ll certainly have a pass product that will launch this spring,” said Kristin Rust, Alterra’s director of public relations. “It’s safe to assume it will be for our sister resorts.”
Rust would not provide a specific date for when the new pass product would be announced, or give a glimpse of what the pass will offer.
Alterra is headquartered in downtown Denver, in the space formerly occupied by Intrawest.
According to a statement, the name Alterra is a “fusion of the words altitude and terrain/terra, paying homage to the mountains and communities that form the backbone of the company.”
Alterra president and chief operating officer David Perry said each ski resort has a personality and spirit that has delighted visitors for generations.
“Our vision at Alterra Mountain Company is to protect and enhance what makes each destination special, inviting guests back to their favorite mountain and enticing them to visit new destinations on their bucket list,” Perry said in the statement. “We respect and continue to learn from the pioneers and leaders that built these iconic locations and paved the way before us, as we push the boundaries and innovate for our future.”
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In a Q&A interview, Aspen Skiing Co. President and CEO Mike Kaplan addresses loss of revenues, affects on capital improvements and what passholders can expect.