Stowe Mountain is now Epic as Vail Resorts makes its first East Coast acquisition.
Vail Resorts has made its first East Coast acquisition, purchasing Stowe Mountain for a reported $50 million. Stowe is the 10th prominent resort to become “Epic,” joining Whistler as the newest full-access resorts in 2018.
Local residents can expect day passes to rise, but avid travelers can rejoice in adding Stowe to what has effectively become an $800 global seasons pass that now includes Vail Mountain, Beaver Creek, Keystone, Breckenridge, Park City, Heavenly, Northstar, Kirkwood and a number of smaller resorts, with partner passes in Europe and Australia.
Although Vail has announced no immediate plans for on-mountain improvements, the resort has made significant improvements in the last year, adding family entertainment at the Spruce Peak Adventure Center and retail at the Shops at Spruce Peak. New high-speed lifts, base facilities and gourmet restaurants are among other, according to a release.
Stowe’s current owner, Mt. Mansfield Company, a subsidiary of AIG, will retain ownership of the Stowe Mountain Lodge at Stowe Mountain Resort, a 312-room eco-friendly luxury hotel and spa.
AIG president and CEO Douglas Tymins also alluded to future developments.
“Under Vail Resorts’ management, Stowe’s reputation as a premier ski destination with a commitment to excellent service will continue to grow,” he said in a release. “AIGGRE is looking forward to combining Vail Resorts’ tremendous mountain operations capabilities with our continued commitment to the development of the Spruce Peak community.”
Vail chairman and CEO Rob Katz expressed equal enthusiasm.
“We’re thrilled to add Stowe Mountain Resort to our family of world-class mountain resorts,” he said. “With the investments in both mountain infrastructure and base area facilities that AIG has made over the years, Stowe Mountain Resort has become the premier, high-end resort for East Coast skiers and snowboarders.”
Vail has aggressively sought new partnerships and acquisitions since introducing the Epic Pass in 2008, now representing resorts in eight states and at least seven countries.