Vail Resorts, Inc. has entered into an agreement to purchase the ski fields at Falls Creek Alpine Resort and Hotham Alpine Resort in Victoria from a subsidiary of Merlin Entertainments for $174 million.
The acquisition, which is subject to certain regulatory approvals, is expected to close prior to the commencement of the Australian snow season in June 2019. The transaction includes ski school, retail/rental, reservation and property management operations at both resort areas.
“We are thrilled to welcome the guests and employees of both Falls Creek and Hotham into the Vail Resorts family and further strengthen our position in Australia, which is one of our most important international markets,” said Rob Katz, Chairman and CEO of Vail Resorts.
“The acquisition of the leading mountain resorts in Victoria is part of our continued strategy to drive season pass sales and build loyalty with guests from around the world. After our success connecting with skiers in Sydney and across New South Wales since acquiring Perisher in 2015, we have a huge opportunity to create a deeper connection with Melbourne and broader Victorian skiers and riders.”
When the transaction closes, the 2019 Epic Australia Pass and 2018–19 Epic Pass will include unlimited, unrestricted access to Falls Creek and is expected to include unlimited, unrestricted access to Hotham, subject to certain approvals.
The Epic Australia Pass provides access to world-class skiing and riding at the largest and most celebrated resorts in the US, Canada, Japan and Australia, at just AU$839 for adults, AU$471 for students and AU$629 for seniors. The Epic Pass offers world-class access including unlimited, unrestricted skiing and riding at Vail, Beaver Creek, Whistler Blackcomb, Breckenridge and more, including limited day access to several resort partners such as Telluride, Sun Valley, Hakuba Valley and Rusutsu.