Intrawest sells to Aspen and KSL

[Tricia]

Snowbrains has an interesting lay out of what this transaction looks like from a layman's perspective.
https://snowbrains.com/ksl-aspen-skiing-co-intrawest-mammoth-resorts-deal-much-bigger-thought/

The New Company Is Also Shaking Up Its Leadership Roles:

• Bryan Traficanti of KSL is now interim Chief Executive Officer (they’re currently looking for a CEO for the new company)
• Andy Wirth, President and Chief Executive Officer of Squaw Valley Ski Holdings (SVSH), will become President and Chief Operating Officer of SVSH
• Thomas Marano, Intrawest’s Chief Executive Officer, resigned his position
• Rusty Gregory, Mammoth Mountain’s Chairman and Chief Executive Officer, is now the Senior Strategic Advisor and is an investor in the new company and will serve on their board

Additional Leadership Roles:

• Mark Brownlie, President and Chief Operating Officer, Mammoth Resorts
• Wade Reeser, General Manager, Big Bear Resort
• Rob Perlman, President and Chief Operating Officer, Steamboat Ski & Resort
• Sky Foulkes, President and Chief Operating Officer, Winter Park Resort
• Patrice Malo, President and Chief Operating Officer, Mont Tremblant Resort
• Dan Skelton, President and Chief Operating Officer, Blue Mountain Ski Resort
• Bill Nupp, President and Chief Operating Officer, Stratton Mountain Resort
• Frank DeBerry, President and Chief Operating Officer, Snowshoe Mountain Resort
• Jeremy Levitt, President and Chief Operating Officer, Canadian Mountain Holidays
• Jeff Denomme, President, Alpine Aerotech

 

[David Chaus]

Steamboat Today reported today, answering some questions about the plans for passes in the future of this new brand.

The new company expects to launch a new name and brand prior to the beginning of the 2017-18 season. For the upcoming season, the new company will continue to honor the existing pass products that are currently on sale, including the Rocker Mountain Super Pass +, the M.A.X. Pass and the Mountain Collective.

I still find it bizarre to think of having the option to buy Rocky Mountain Super Pass and/or Max Pass, and/or MCP all from the same ticket office or website.

 

[Tricia]

I think the news headlines about this transaction are a little sensationalized.(from some of our ski related sources)

From Snowbrains -Andy Wirth is No Longer the CEO of Squaw Valley, CA.
Full Details on this HUGE Deal:

From Unofficial Networks - Its official, KSL now owns Mammoth Mountain


The core news articles don't seem to imply that, but more so, that KSL's ski holdings, Mammoth and the Intrawest resorts will be rolled into one ski holding and the new corp, which involves the Crown family and KSL's Bryan Traficanti and the major players in this new holding company.
Am I missing something, or are we all waiting to see how this rolls out?

 

[Muleski]

I saw that, a few days ago. My take:

1. They want a CEO to run the whole show, and they also do not want ANYBODY at the various properties to carry a CEO title or think that they can act like one. So Traficanti, Resnick's guy is lid-sitting as CEO.

2. Wirth loses his CEO title. President/COO looks like the new norm for those running resorts.

3. Rusty Gregory left his money in the deal, or a good chunk of it, or has a bunch at risk. He's an advisor....no longer running Mammoth. That seemed to be an obvious move. But the investor piece at least suggests that he'll be involved. And he could likely be a big help.

4. Mariano was obviously out, with a nice change of control package when the deal was being put together. No need for the job.

5. Dave Perry, former Aspen COO is also in a high level role, reportedly the "ski ops" guru to work closely with the CEO. Tons of experience. Should be a big plus.

Rumors already that the CEO will have the opportunity to be the highest paid person in the snow sport/resort world. Think more that Katz. Wow. Could it end up being Katz? I assume that this enterprise is going to be bigger than it looks now.

I think we're going to see SO MUCH unfold on this. No way is this just slapping this group of resorts together, and doing the same with some goofy combined pricing and marketing. Chess games start soon, IMO.

 

[Muleski]

Another potential player to run it all is Mike Kaplan of Aspen. I am hearing some excitement at SkiCo that a lot of people may be moving out and up, creating a lot of advancement opportunity. That sounds like local optimistic thinking, to me.

Seems like in deals like this, people tend to either be all doom and gloom, or very excited. Seems like the best course is to wait and see what develops.

Andy Wirth? Same job, maybe even more incentive compensation, new title. Sure he could care less. Only CEO will be the one leading the new venture.

 

[Jully]

Will be very interesting to follow. Do we know the new name yet? Anybody heard of rumors regarding Europe or the Southern Hemisphere?

Much more excited about this venture than about Vail buying another property, and selling the additional Epic Pass sales numbers to the street. I'm curious about everything to do with this one.

The MCP has connections/deals with places in Australia, New Zealand, and South America. It would be awesome and interesting to see them try to incorporate something in the southern hemisphere.

 

[Tricia]

I think the news headlines about this transaction are a little sensationalized.(from some of our ski related sources)

From Snowbrains -Andy Wirth is No Longer the CEO of Squaw Valley, CA.
Full Details on this HUGE Deal:

From Unofficial Networks - Its official, KSL now owns Mammoth Mountain


The core news articles don't seem to imply that, but more so, that KSL's ski holdings, Mammoth and the Intrawest resorts will be rolled into one ski holding and the new corp, which involves the Crown family and KSL's Bryan Traficanti and the major players in this new holding company.
Am I missing something, or are we all waiting to see how this rolls out?

Another article title that seems a bit off.
The content of the article reads fairly accurate from what I understand of this transaction, but I get the feeling that some of the titles are meant to bait.
Screen shot from FB