Vail Resorts, which owns Perisher Ski Resort in New South Wales, Australia, announced that it has entered into an agreement to purchase two additional Australia mountain resorts.
Falls Creek Alpine Resort and Hotham Alpine Resort in Victoria, will be purchased for about $175 million. With the acquisition, Vail Resorts will operate three of Australia’s largest ski resorts.
Perisher is the largest mountain resort in the Southern Hemisphere. “The acquisition of the leading mountain resorts in Victoria is part of our continued strategy to…build loyalty with guests from around the world,” said Rob Katz, chairman and chief executive officer of Vail Resorts.
Falls Creek Alpine Resort
Falls Creek provides a variety of lodging properties, restaurants, bars, and nightlife. With roughly 90 runs accessed by 14 lifts, it is Victoria’s largest ski resort. It offers beginner and intermediate trails for beginners and novices, while advanced skiers and riders head for the Summit, which offers steep black runs and is the launching pad for deep powder stashes and tree runs.
Hotham Alpine Ski Resorts
Hotham has its own airport and is the only resort in the Southern Hemisphere where the village is located on top of the mountain, ensuring great views and ski-in, ski-out opportunities from anywhere in the village. Nestled in the Victorian Alps of the Great Dividing Range, Hotham is famous for great powder, off-piste skiing, and riding. It is one of the few resorts in Australia that has access to true side-country terrain, some of which is above the tree line. The resort has 13 chairlifts, three terrain parks and 35km of cross country skiing as well as off-mountain activities like tobogganing, snowmobile rides, luxurious day spas, and 18 restaurants.
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. Vail Resorts plans to retain the vast majority of the resorts’ employees upon closing.