Vail Resorts Inc, owners of a number of American ski resorts including Heavenly Mountain Resort, announced yesterday the acquisition of Northstar-at-Tahoe™ for a cool $63 million. With Ski Corp (Squaw Valley) acquisition of the Village at Squaw (Intrawest) there has been allot of talk about the future ownership of Squaw Valley USA. At this point it is anyone's guess as to what will happen with our favorite slice of heaven but with the financial meltdown of Intrawest, collapse of AIG (Stowe) and industry wide hardships Vail Resorts could find themselves at the top of a very short list of potential buyers. Could Vail Resorts be the soon to be owner of Squaw Valley?
"BROOMFIELD, Colo., Oct. 25 /PRNewswire-FirstCall/ — Vail Resorts, Inc. (NYSE: MTN) today announced that it has closed on the acquisition of Northstar-at-Tahoe™ Resort in North Lake Tahoe, Calif., one of the premier mountain resort destinations in North America. Vail Resorts acquired the stock of the companies that operate Northstar-at-Tahoe from Booth Creek Resort Properties LLC and other sellers for total consideration of $63 million. The operations of Northstar-at-Tahoe are conducted on land owned by CNL Lifestyle Properties, Inc. which will be leased to Vail Resorts under a long-term agreement. Vail Resorts now operates two mountain resorts in the Lake Tahoe region, also operating Heavenly Mountain Resort in South Lake Tahoe. The Sierra-at-Tahoe resort is not part of the acquisition and will continue to be operated by Booth Creek.