Solitude Sold to Alterra Mountain Company
Alterra Mountain Company announced today (Wednesday) that it has entered into an agreement to purchase Solitude Mountain Resort in Big Cottonwood Canyon. That comes just less than a year after the company purchased Deer Valley Resort.
Last August, Deer Valley announced it was selling - to then, an unnamed partnership – which consisted of KSL Partners and the Crown Family, which between them, had a handful of ski resorts across the country.
Wednesday’s acquisition brings Alterra's total to 13 year-round mountain destinations throughout North America, including the world’s largest heli-skiing operation.
In a prepared statement, Rusty Gregory, CEO of Altera said with Solitude’s close relationship with Deer Valley, it was a natural fit for Alterra. He added they are especially excited to expand their reach in Utah.
Deer Valley President and COO Bob Wheaton told KPCW the acquisition of Solitude was always part of the original discussion. But he said there were some business issues and reasons why the sale of Solitude last year couldn’t happen at the same time of as the acquisition of Deer Valley resort. The conversation he said just kept going and the interest was already there because Solitude is an awesome resort.
Kim Mayhew who has been the general manager of Solitude since Deer Valley acquired Solitude in 2014 will stay on as GM for the coming season. Mayhew said in a statement, joining Alterra Mountain Company places Solitude in a strong position to continue to grow and enhance the resort’s brand and culture.
Solitude Mountain Resort offers skiers and riders 77 runs, three bowls, across 1,200 acres. The base village offers ski-in/ski-out accommodations along with year-round activities.
The transaction is expected to close by the end of the third quarter this year, and is subject to certain closing conditions, including regulatory approvals. Terms of the transaction were not disclosed. More details will be released once the transaction has closed, including Ikon Pass inclusion details and more.