James Packer sells Perisher ski resort to US company Vail Resorts
|21/05/2019||Posted by admin under 南京夜网||
The acquisition includes the resort areas of Perisher Valley, Smiggin Holes, Blue Cow and Guthega. Photo: Supplied Perisher’s Freedom Pass will now include entry to a range of Vail-owned skifields in the US.
US-based Vail Resorts has bought Australia’s Perisher ski resort for $176.6 million from James Packer subsidiary, Murray Publishers and Transfield Corporate.
The deal includes the resort areas of Perisher Valley, Smiggin Holes, Blue Cow and Guthega. Also included are the ski school, lodging, food and beverage and retail/rental and transportation operations.
The resort is on a lease till 2048 with a 20-year option to review.
Under the deal, Perisher’s Freedom Pass, which goes up for sale this week at $749, will now include access to Vail resorts with unlimited skiing at a range of US ski fields – including Breckenridge in Colorado, Park City and Canyons in Utah and Heavenly, Northstar and Kirkwood in the California and Nevada – subject to traditional holiday restrictions.
The deal, which was announced to the New York Stock Exchange this morning, is expected to be finalised in the fourth quarter of fiscal 2015, subject to approval by the New South Wales Government.
In a statement, Vail Resorts chief Rob Katz said the company was looking forward to moving into the Australian market.
“We’re thrilled to welcome the guests and employees of Perisher, Australia’s largest and most iconic resort, into the Vail Resorts family and deepen ties with one of our most important international markets,” said Rob Katz, chairman and chief executive officer of Vail Resorts.
More to come
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