This is nothing but great news (especially for Phil and Snowhot!). Squaw is one great mountain but it the lack of capital improvements had made it a poor experience (away from the snow) the past sevreal years. They had spent as little as possible and the whole resort showed it. The $50m committed over the next 3-5 years is the bare minimum that needs to be spent, but it will deifinitely help. Here is the letter from the President:
As a valued friend and partner I?d like to share some important and exciting news about our company and it doesn?t relate to the nearly six feet of snow we?ve received over the past few days, (with another seven feet of snow which is on the five day forecast!).
Today I?m pleased to announce that Squaw Valley USA is set to be acquired by KSL Capital Partners of Denver, Colorado. The purchase will include all facets of Squaw Valley?s ski operations, the Village and related real estate holdings.
Make no mistake, these are transformative times! It?s with a respectful eye for the past that I say this news is part of a new era in Squaw Valley?s incredible history. KSL is dedicated to further enhancing the resort and the guest experience by committing over $50 million in additional capital improvements over the next 3-5 years. The KSL team, all of whom are skiers and riders, are thrilled to be working with Squaw Valley and they?re all very experienced professionals in the travel and resort industry. Make no mistake, these are transformative times for Squaw Valley and a new era is dawning by way of our entire team?s dedication to the guest experience that will put us on par with the very best resorts in North America.
Please see the attached press release for more information. I wanted to be sure you received this important announcement before we send along to the press, which will happen shortly. I appreciate your attention to this email and I look forward to seeing on the slopes!
Warm but snow filled regards,
Home
Login
Register