🠈 Vail Resorts 🠊
Vail Resorts
Vail Resorts is a company based in Broomfield that holds 19 ski resorts, numerous golf courses, hotels and other resort properties including the RockResorts
The current corporation was created by the private equity firm Apollo Management in 1997. It trades on the NYSE with the symbol: MTN.
Corporate History
- Pete Seibert was a member of the WWII 10th Mountain Division.
- 1957: Fellow ski-patrol members Pete Seibert and Earl Eaton decided to create a resort and select the Vail region.
- 1962; Vail Opened.
- 1985: George N. Gillett Jr. acquired Vail.
- 1997: Rising interest rates pushed Gillett into bankruptcy.
- 1997: Apollo Management acquired Vail and held an IPO.
- 1998: A group called "The Family" associated with Earth Liberation Front set fire to the Two Elks Lodge and caused $24 million in damage.
- 2001, Vail acquired the luxury hotel chain RockResorts.
- 2000: Blue Sky Basin opened.
- 2002: Vail acquired Heavenly
- 2004: Apollo sold its last preferred stock in Vail.
- 2010: Vail acquired Northstar
- 2012: Vail acquired Kirkwood in California, Afton Alps in Minnesota, and Mt Brighton in Michigan.
- 2013: Vail took over Park City Mountain Resort and combine it with The Canyons.
- 2015: Vail acquired Perisher in Australia.
- 2016: Vail acquired Whistler Blackcomb resort of British Columbia in a deal with KSL Capital priced at C$1.39 billion.
History of Whistler Blackcomb
Whistler Blackcomb is a massive ski resort in British Columbia. The area had become a resort in the 1860s with Rainbow Lodged construction in the 1920s.
- 1914: Rainbow Lodged opened with the arrival of the Pacific Great Eastern Railway.
- 196?: Businessman Franz Wilhelmsen sought to place a bid for the 1968 Olympics
- 1965: The London Mountain area was renamed "Whistler" after the call made by the local marmots.
- 1966: Whistler was opened for skiing.
- 1980: Blackcomb Resort opened on Blackcomb Mountain.
- 1998: Blackcomb and Whistler merged.
- 2010: Whistler hosted alpine events for the Vancouver Olympics.
- 2012: KSL Capital acquired a 24% share of Whistler.
- 2016: Vail acquired Wilmot Mountain in Wisconsin.
- 2018: Vail acquired Stevens Pass. Okemo and Mount Sunapee.
- 2018: Vail acquired Triple Peaks LLC which owned Crested Butte, Okemo Mountain Resort in Vermont, and Mount Sunapee Resort in New Hampshire from the Mueller family for $82 million.
References:
- Vail Daily - Two Elk Running the Edge (Drawn 5/18/2019)
- Unofficial Networks - Vail Timeline (Drawn 5/18/2019)
- KSL Capital - Whistler PR (Drawn 5/18/2019)
- The Culture Trip - A Brief History of Whistler (Drawn 5/18/2019)