“With our combined experience and expertise, together we will build upon the guest experience at Whistler Blackcomb while preserving the unique brand and character of the resort as an iconic Canadian destination for guests around the world,” Vail Resorts Chief Executive Officer Rob Katz said in a press release. “We are delighted to add such a renowned resort to Vail Resorts and look forward to expanding our relationships in the Sea-to-Sky community, British Columbia and Canada.”
Whistler Blackcomb’s Chief Executive Officer Dave Brownlie cites "unique challenges facing the broader ski industry due to the unpredictability of year-to-year regional weather patterns" as part of the incentive for the transaction, going on to state that the deal would help ensure the long term success of the year-round resort.
Vail Resorts' expansion continues north of the border with Whistler Blackcomb. | Photo courtesy WMBP
"This relationship will bring greater resources to support our current operations and our ambitious growth plans, including the Renaissance project, the most exciting and transformative investment in Whistler Blackcomb’s history,” said Brownlie.
The five-year Renaissance project includes sweeping plans to expand the bike park, though no specifics of how the acquisition will affect summer operations and the bike park have been released.
Whistler Blackcomb will nominate one member of its board to join Vail’s board, and Brownlie will continue leading Whistler Blackcomb as the resort’s CEO. He will also join the senior leadership team of Vail Resorts’ mountain division.
Whistler-Blackcomb shareholders stand to make $676 million CAD in cash and $715 million CAD in Vail Resorts Inc. (MTN) stock in the transaction.
MTBparks will update as details regarding future bike park operations become available.
-by Don Stefanovich