Vail Resorts Purchases Kirkwood Mountain Resort

Vail Resorts, Inc. has announced that it has entered into an agreement to acquire Kirkwood Mountain Resort at Lake Tahoe, Calif. Vail Resorts is purchasing the ski resort as well as the undeveloped sites at the center of the base area which are zoned for residential and commercial development for a purchase price of approximately $18.0 million. The seller will retain a participation interest in the base area parcels and will continue to own the remainder of the real estate development sites. Following the acquisition, Vail Resorts will now operate three mountain resorts in the Lake Tahoe region, including: Heavenly Mountain Resort in South Lake Tahoe, Northstar California on the north shore and Kirkwood Mountain Resort.