A new era of Steamboat starts today with the announcement that the resort has officially become part of a new entity formed by ski industry leaders KSL and Henry Crown & Company.

What is the transaction that closed today?

KSL and Henry Crown & Company have formed a new entity to acquire Intrawest and Mammoth Resort. The transaction closed July 31, 2017.

Who is Henry Crown & Company?

Henry Crown & Company dates back to the early 1900s when Henry Crown and his brothers started Material Service Corporation, which was later merged into General Dynamics. Today, the Crown’s family assets fall into four broadly defined categories, including publicly traded securities, real estate, investment funds and privately held operating companies, including Aspen Skiing Company.

Who is KSL?

KSL is a private equity firm specializing in travel and leisure enterprises in five primate sectors: hospitality, recreation, clubs, real estate and travel services. KSL has significant ski industry experience and has owned Squaw Valley Alpine Meadows for the last six years. KSL has offices in Denver, Colorado; Stamford, Connecticut; and London, England.

Is Aspen/Snowmass part of the new company?

No, there is no inclusion of current Aspen/Snowmass resorts in this transaction. Aspen remains independent, and the new company will explore opportunities to work together when and where it is appropriate.

What will happen to my season pass?

For the full 2017/18 winter season, we will continue to honor all existing multi-resort and season pass products. This includes RMSP+, MAX Pass and Mountain Collective.

See the full text of the press release here.