Alterra Mountain Company To Aquire Crystal Mountain Resort

Kristin Rust
Alterra Mountain Company
Director of Public Relations

[email protected]

303.801.7271

ALTERRA MOUNTAIN COMPANY TO ACQUIRE CRYSTAL MOUNTAIN RESORT IN WASHINGTON

Expanding Regional Access to the Company’s Family of Destinations

DENVER, CO, September 5, 2018 – Alterra Mountain Company announces that it has entered into an agreement to purchase Crystal Mountain Resort in Washington, which would bring the company’s total to 14 year-round mountain destinations throughout North America, including the world’s largest heli-skiing operation.

“With the addition of Crystal Mountain Resort in Washington, we are able to expand our reach into the Pacific Northwest and offer our guests incredible experiences in the Cascade Mountains, while also giving Crystal Mountain Resort skiers and riders the opportunity to explore all the other premier destinations on the Ikon Pass,” said Rusty Gregory, Chief Executive Officer, Alterra Mountain Company. “Crystal Mountain is Washington’s premier resort and has been a favorite year-round destination for those in the greater Seattle-Tacoma area for years, and we are excited to include it in the Alterra Mountain Company family.”

Crystal Mountain Resort will be available on the Ikon Pass for winter 2018/2019. Access will be unlimited with no blackout dates on both the Ikon Pass and Ikon Base Pass. (Any Ikon Pass access or benefits at Crystal Mountain Resort is contingent upon the completion of Alterra Mountain Company’s transaction to acquire Crystal Mountain Resort.)

Situated in the Northeast edge of Mt. Rainier National Park, Crystal Mountain Resort is less than two hours from the Seattle-Tacoma International Airport (SEA) and boasts the largest and highest lift-serviced terrain in Washington. The mountain offers skiers and riders a gondola and 10 lifts, 57 runs, and a vertical drop of 3,100 feet across 2,600 acres. The village is home to a number of lodging properties, shops, services and year-round activities.

“It has always been my goal to ensure Crystal Mountain Resort be taken the farthest in the shortest amount of time in order to keep Crystal at the top of Northwest skiing,” said John Kircher, Owner of Crystal Mountain Resort. “Alterra Mountain Company is able to offer a depth of experience and resources, as well as inclusion on the Ikon Pass with its outstanding destinations throughout the world. The mountain sports business has changed more in the last year than I have seen it change in my entire 40-year career, and I am excited to see what lays ahead.”

The transaction is expected to close in the fourth quarter of 2018, and is subject to certain closing conditions, including regulatory approvals. Terms of the transaction were not disclosed.  More details will be released once the transaction has closed.

Alterra Mountain Company’s destinations offer premium ski, snowboard and all-season activities for those who seek adventure, freedom, and fun in the great outdoors. Current destinations that make up Alterra Mountain Company are spread throughout five states and three Canadian provinces: Steamboat and Winter Park Resort in Colorado; Squaw Valley Alpine Meadows, Mammoth Mountain, June Mountain and Big Bear Mountain Resort in California; Stratton in Vermont; Snowshoe in West Virginia; Tremblant in Quebec, Blue Mountain in Ontario; Deer Valley Resort and

Solitude Mountain Resort in Utah; and CMH Heli-Skiing & Summer Adventures in British Columbia. Alterra Mountain Company was created when affiliates of KSL Capital Partners, owners of Squaw Valley Alpine Meadows, and affiliates of Henry Crown and Company purchased Intrawest, Mammoth Resorts, and Deer Valley Resort in 2017.

At each destination, Alterra Mountain Company leaders are empowered to be decisive, creative, and bold in order to retain each mountain’s authentic character. Recognizing the innate value of the unique culture found at each of the mountain communities, Alterra Mountain Company’s goal is to preserve, sustain and support its two most important resources: the mountains and the people who live and play in them.

In January 2018, Alterra Mountain Company introduced the Ikon Pass for winter 2018-2019, the new standard in season passes. The Ikon Pass offers skiers and riders access to 35 mountain destinations throughout North America, Australia and Japan, including 13 Alterra Mountain Company destinations, plus 22 partner destinations.

About Alterra Mountain Company

Alterra Mountain Company is a family of 13 iconic year-round destinations, including the world’s largest heli-ski operation, offering the Ikon Pass, the new standard in season passes. The company owns and operates a range of recreation, hospitality, real-estate development, food and beverage and retail businesses. Headquartered in Denver, Colorado with destinations across the continent, Alterra Mountain Company is rooted in the spirit of the mountains and united by a passion for outdoor adventure. Alterra Mountain Company’s family of diverse playgrounds spans five U.S. states and three Canadian provinces: Steamboat and Winter Park Resort in Colorado; Squaw Valley Alpine Meadows, Mammoth Mountain, June Mountain and Big Bear Mountain Resort in California; Stratton in Vermont; Snowshoe in West Virginia; Tremblant in Quebec, Blue Mountain in Ontario; Deer Valley Resort and Solitude Mountain Resort in Utah; and CMH Heli-Skiing & Summer Adventures in British Columbia. Alterra Mountain Company honors each destination’s unique character and authenticity and celebrates the legendary adventures and enduring memories they bring to everyone. For more information visit www.alterramtnco.com.  

About Crystal Mountain Resort

Crystal Mountain Resort is situated on the northeast corner of Mt. Rainier National Park, just 76 miles from Seattle.  Crystal averages 480 inches of snow annually and is the largest ski area in the Washington with 2,600 acres of world-class terrain.  The resort is open during the winter months for skiing, snowboarding and snowshoeing. During the summer guests can enjoy scenic rides on the Mt. Rainier Gondola along with mountain-top dining and a multitude of other activities.  Crystal Mountain Resort is located in the Mt. Baker-Snoqualmie National Forest and is a proud partner in recreation with the U.S. Forest Service.  For more information visit crystalmountainresort.com.

About Ikon Pass

The Ikon Pass is the new standard in season passes, connecting the most iconic mountains across North America, Australia and Japan, delivering authentic, memorable snow adventures. Brought to you by Alterra Mountain Company, the Ikon Pass unlocks access to a community of diverse destinations you want to ski and ride, including Aspen Snowmass, Steamboat, Winter Park Resort, Copper Mountain and Eldora in Colorado; Squaw Valley Alpine Meadows, Mammoth Mountain, June Mountain and Big Bear Mountain Resort in California; Jackson Hole Mountain Resort in Wyoming; Big Sky in Montana; Stratton, Killington and Sugarbush Resort in Vermont; Snowshoe in West Virginia; Boyne Highlands and Boyne Mountain in Michigan; The Summit at Snoqualmie in Washington; Tremblant in Quebec and Blue Mountain in Ontario, Canada; SkiBig3 in Alberta, Canada; Revelstoke Mountain Resort and Cypress Mountain in British Columbia, Canada; Sunday River and Sugarloaf in Maine; Loon Mountain in New Hampshire; Deer Valley Resort, Solitude Mountain Resort, Brighton Resort, Alta, and Snowbird in Utah; Thredbo in Australia; and Niseko United in Japan. Special offers are available at CMH Heli-Skiing & Summer Adventures, the world’s largest heli-skiing operation. For more information on the Ikon Pass, visit www.ikonpass.com.

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