An emerging Denver-based ski industry giant expects to soon add another piece to its fast-growing empire.
Alterra Mountain Co. announced Wednesday that it has entered into an agreement to buy the Solitude Mountain Resort outside Salt Lake City.
Solitude is a 1,200-acre mountain resort with 77 skiing and snowboarding runs, according to its promotional materials. In summertime, it offers visitors lift-served hiking and mountain biking. It is near Deer Valley Resort, another Utah ski area Alterra bought in October.
“With its close relationship with Deer Valley Resort, Solitude Mountain Resort is a natural fit for Alterra Mountain Co., and a tremendous addition to our family of destinations,” Alterra CEO Rusty Gregory said in a news release. “We are especially excited to expand our reach within Utah and offer another ski and snowboard experience in a state known for its exceptional snow and mountain culture.”
The purchase is expected to be completed by late fall, according to Wednesday’s release. Terms of the deal have not been released. Alterra said further information, including whether Solitude will be included in the company’s expansive IKON Pass season pass package, will be announced after the purchase is finalized.
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By adding Solitude, Alterra’s will grow its family of resorts to 13. Quite a feat for a company that didn’t exist at the beginning of 2017. It formed last year when Denver investment firm KSL Capital Partners partnered with Henry Crown and Co., owner of Aspen Skiing Co. Since then, the group has built a portfolio of resorts in five states and three Canadian provinces that includes Colorado’s Steamboat and the operating contract for Winter Park. Earlier this year, it formally launched the (for now) 26-destination IKON Pass, which is poised to compete this coming season with Vail Resorts’ Epic Pass for industry supremacy.
Alterra is in the process of moving its corporate headquarters from Lower Downtown Denver to the Zeppelin Station building in the city’s River North neighborhood.
