Vail has officially finalized their purchase of Kirkwood ski resort in California for $18 million.
Shareholders of seller Kirkwood Mountain Development, including that company’s CEO David Likins and CFO Nathan Whaley, retain a participation interest in the base area parcels and continue to own the remainder of the real estate development sites to be marketed through Kirkwood Mountain Realty.” – firsttracksonline.com
Vail now owns Heavenly, Northstar, and Kirkwood in the Lake Tahoe area.
Vail only purchased the ski resort not all the condos and such down valley. But, there is a lot of undeveloped land around that base area that we’re sure Vail will figure out how to develop big.
If you haven’t seen the post about the above sign, you’ve gotta check it out. The comments are priceless: Kirkwood sign.
It’s going to be interesting to watch and see what Vail does with Kirkwood. Vail has never owned a ski resort that has any GNAR before. How will they pitch it to their clientele?
The one tricky thing about Kirkwood is that it’s off the grid. Kirkwood has its own power plant that burnt down on new year’s day 2010. They just finished a new 10,000 square foot diesel fueled power plant that is currently operational. This new diesel power plant cost upwards of $5.5 million.
