In a significant move within the ski industry, Alterra Mountain Company has announced its plan to acquire Arapahoe Basin, a renowned ski area in Colorado, from Dream Unlimited Corp. This acquisition will expand Alterra's impressive portfolio of unique destinations across the Rockies, marking a pivotal moment for both entities involved.
Arapahoe Basin, affectionately known as A-Basin, has long been celebrated for hosting the longest ski and ride season in Colorado, and one of the longest globally, thanks to its high elevation on the Continental Divide. It's a place where the spirit of authentic Colorado skiing thrives, offering legendary terrain, breathtaking views, and a laid-back culture. The resort is known for its adventurous terrain and unique events, making it a beloved spot among ski enthusiasts.
Dream Unlimited Corp., the seller, is a prominent developer with a vast portfolio of office and residential assets across Canada and the U.S., alongside a successful asset management business. The company has significantly contributed to the expansion and development of A-Basin, including extending its skiable terrain to 1,428 acres, updating lifts and facilities, and opening high-altitude restaurants.
Alterra Mountain Company, the buyer, is a key player in the ski industry, managing 17 resorts throughout North America and operating the Ikon ski pass, which offers access to a community of inspiring mountain destinations worldwide. The acquisition of A-Basin is seen as a strategic addition to Alterra's portfolio, further enhancing its offerings to Ikon Pass holders. A-Basin has been part of the Ikon Pass community since 2019, which facilitated collaboration between the resort and Alterra. Alan Henceroth, A-Basin's COO, who has been with the resort for over three decades, will continue to lead its operations, ensuring the preservation of its unique culture and authenticity under Alterra's stewardship.
This acquisition signifies more than just a change of ownership; it represents a commitment to maintaining the essence of A-Basin while integrating it into Alterra's broader network of destinations. The transaction, expected to close later in the year, is subject to regulatory approvals and other customary closing conditions. The terms of the deal have not been disclosed, but further details are anticipated upon the completion of the transaction.
For both Arapahoe Basin and Alterra Mountain Company, this acquisition marks a new chapter in their storied histories, promising to uphold the legacy and spirit of A-Basin while offering expanded possibilities for adventure and exploration to the skiing and snowboarding community.
Alterra Mountain Company