Sports Authority Park City Utah

February 28, 2017
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Vail Resorts, Inc. runs four ski resorts in Colorado (Vail Ski Resort, Beaver Creek Resort, Keystone Resort, and Breckenridge Ski Resort), three in Lake Tahoe (Heavenly Mountain Resort, Kirkwood Mountain Resort, Northstar California), one in Utah (Park City Mountain Resort in Park City), one in Minnesota (Afton Alps), one in Michigan (Mount Brighton), one in New South Wales, Australia (Perisher Ski Resort) and a summer resort in Wyoming. They also own luxury resort hotels throughout the world. The company trades on the New York Stock Exchange, symbol MTN. The company is headquartered in Broomfield, Colorado.

History[edit]

Vail Resorts was founded as Vail Associates Ltd. by Pete Seibert (former WWII 10th Mountain Division ski trooper) and Earl Eaton in the early 1960s. Earl and Peter were both ski patrol guides at Aspen when they shared their dream of finding the "next great ski mountain". Earl, a life long resident and son of pioneer families in the area lead Peter to the area in March of 1957. Peter set off to secure financing and Earl engineered the early lifts. On a string and a prayer, the ski resort was founded and it opened in 1962.George N. Gillett, Jr. purchased Vail Associates in 1985. Vail Associates changed its name to Vail Resorts and went public in 1997 after Gillett Holdings (owned by George N. Gillett, Jr.) went bankrupt.Apollo Management, headed by Leon Black, bought the company out of bankruptcy and took Vail Resorts public, controlling Vail Resorts through its growth until around 2003, when Apollo divested themselves of the controlling interest. Former Apollo executive, Rob Katz, currently runs the company. The skating rink at Beaver Creek was named the Black Family Skating Rink after Leon Black.

Resorts[edit]

Vail Resorts operates the Vail, Beaver Creek, Breckenridge, and Keystone ski areas in Colorado, Northstar at Tahoe, Kirkwood Mountain Resort, and Heavenly Ski Resort on the California-Nevada border. It acquired the Grand Teton Lodge Company within the Grand Teton National Park in Wyoming in 1999. The GTLC properties include the Jenny Lake Lodge, Jackson Lake Lodge, and Colter Bay Village.

On October 25, 2010, Vail Resorts Inc. announced the acquisition of a long-term lease on Northstar-at-Tahoe Resort in California for $63 million cash.

On February 22, 2012, Vail Resorts Inc. announced the acquisition of Kirkwood Mountain Resort for approximately $18 million.

On December 6, 2012, Vail Resorts Inc. announced the acquisition of Afton Alps in Minnesota and Mount Brighton in Michigan for $20 million cash.

On May 29, 2013, the company announced a 50-year lease of Canyons Resort in Park City, Utah.

On September 11, 2014, Vail announced the acquisition of Park City Mountain Resort in Park City, Utah for 182.5 million in cash. In 2015, Vail would merge Park City Mountain Resort with Canyons Resort via an interconnect gondola to make one large resort operating under the Park City name.

RockResorts[edit]

In 2001, Vail Resorts acquired the renowned luxury hotel chain Rockresorts, which contributed substantially to their brand recognition. RockResorts (with the second "R" now capitalized) was named for its original owners, the The Lodge at Vail, CO
The Osprey at Beaver Creek, CO
The Arrabelle at Vail Square, CO

Source: en.wikipedia.org
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