Vail Resorts to buy Whistler Blackcomb in $1 billion deal

Vail Resorts on Monday said it will pay $1.06 billion for the sprawling Canadian ski area Whistler Blackcomb.

The stock and cash transaction has been unanimously approved by the boards of Whistler and Vail Resorts, North America’s largest resort operator. The deal, which still must be approved by Whistler Blackcomb shareholders and Canadian courts, is expected to close this fall.

Vail Resorts says it will include the British Columbia ski area in the Epic Pass and other season pass products for the 2017-18 winter. Whistler Blackcomb’s existing season-pass products will be honored for the full 2016-17 winter season.

“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 CEO Rob Katz said in a statement. “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.”

Read more: http://www.denverpost.com/2016/08/08/vail-resorts-acquires-whistler-blackcomb/