Deer Valley Resort near Park City has been acquired by a company recently formed to buy ski properties that now has 13 ski areas in its new portfolio. The purchase continues a trend in recent years of consolidation in the ski industry.
The resort announced last week in a news release that it is being sold to an ownership group that owns Mammoth and Squaw Valley in California and Steamboat and Winter Park in Colorado. The yet-to-be named company is run by affiliates of KSL Capital Partners (no relationship to the Utah media company) and Henry Crown and Co.
Financial details of the deal were not disclosed. It is expected to close before ski season. Deer Valley had been owned by the Stern family.
The new company now is in direct competition with Vail Resorts, which acquired Canada’s Whistler Blackcomb last year and owns 14 total ski areas, including Park City Mountain Resort.