Alterra Mountain Company to Acquire Schweitzer in Idaho 17nailyntow

The New Mountain Addition will add to the Company’s Family of Destinations in the Pacific Northwest

DENVER–(BUSINESS WIRE)–Alterra Mountain Company has announced that it has entered into an agreement to purchase Idaho’s Schweitzer, further expanding the company’s portfolio in the Pacific Northwest by joining Crystal Mountain in Washington. The addition of Schweitzer will bring the company’s portfolio to 17 year-round mountain destinations throughout North America.

Schweitzer is the largest ski area in Idaho and Washington, located in the Selkirk Mountains overlooking the picturesque town of Sandpoint, Idaho, only 80 miles from Spokane, Washington. This beloved destination offers 2,900 acres of big mountain terrain with stunning views of Lake Pend Oreille, Washington, Montana, and Canada and is often recognized for its renowned tree skiing and family fun.

“With an incredible mountain in one of the most beautiful settings in the country and a world-class operating team, Schweitzer has everything we look for in a destination,” said Jared Smith, President & CEO, Alterra Mountain Company. “The mountain has been a valued partner on the Ikon Pass for several seasons, so we’ve been able to see the exceptional team, community, and opportunities for continued investment up close.”

Tom Chasse, who has been with Schweitzer since 2006 will stay on as President and CEO. He will continue to oversee daily operations of the destination as well as future capital improvement plans, which include the development of the new Schweitzer Creek Village portal, adding approximately 1,400 additional parking spots with easy access to the new Creekside Quad lift. Eventually, Schweitzer Creek Village will also be home to a new day lodge and other skier amenities.

“Since becoming an Ikon Pass partner in 2021, we’ve had the good fortune of learning how Alterra Mountain Company has quickly evolved into an industry leader,” said Tom Chasse, President and CEO of Schweitzer. “The company’s commitment to preserving the authenticity of their mountain communities while investing in the overall mountain experience is what we’re most looking forward to as the newest member of the Alterra family.”

In the last decade, Schweitzer has invested over $100M in capital to fortify itself as a premier destination in the Pacific Northwest, including terrain expansion and new lifts, a new on-mountain lodge, Sky House, and Humbird, a 31-unit boutique hotel in Schweitzer’s village.

The MKM Trust, which has been the owner and developer of Schweitzer for the past 18 years, will retain non-ski operations and real estate holdings, and will continue to lead future real estate development projects that support the vibrancy of the Schweitzer community.

There are no changes to Ikon Pass 23/24 winter access at this time.

The transaction is expected to close later in 2023, 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.

Alterra Mountain Company’s destinations offer premium ski, snowboard and all-season activities for those who seek adventure, freedom, and fun in the great outdoors. Alterra Mountain Company mountain destinations are spread throughout six states and three Canadian provinces: Steamboat and Winter Park Resort in Colorado; Palisades Tahoe, Mammoth Mountain, June Mountain, Big Bear Mountain Resort and Snow Valley in California; Sugarbush and Stratton in Vermont; Snowshoe in West Virginia; Tremblant in Quebec, Blue Mountain in Ontario; Crystal Mountain in Washington; Deer Valley Resort and Solitude Mountain Resort in Utah; and CMH Heli-Skiing & Summer Adventures in British Columbia. Alterra Mountain Company was created when affiliates of KSL Capital Partners and affiliates of Henry Crown and Company initially purchased Intrawest, Mammoth Resorts, and Deer Valley Resort in 2017.

At each destination, Alterra Mountain Company leaders are empowered to be decisive, creative, and bold in order to retain each mountain’s authentic character. Recognizing the innate value of the unique culture found at each of the mountain communities, Alterra Mountain Company’s goal is to preserve, sustain and support its two most important resources: the mountains and the people who live and play in them.

In January 2018, Alterra Mountain Company introduced the Ikon Pass for winter 18/19, the premier ski and snowboard season pass. Today, the Ikon Pass offers skiers and riders access to over 50 mountain destinations throughout the Americas, Europe, Australia, New Zealand, and Japan.

About Alterra Mountain Company

Alterra Mountain Company is a family of 16 iconic year-round resorts, the world’s largest heli-skiing operation, and Ikon Pass – the premier ski and snowboard season pass offering access to more than 50 iconic mountain destinations around the world. Headquartered in Denver, Colorado and born out of a shared love of the mountains and adventure, the company has brought together some of the world’s most aspirational brands, including: Steamboat and Winter Park in Colorado; Palisades Tahoe, Mammoth Mountain, June Mountain, Big Bear Mountain Resort and Snow Valley in California; Stratton Mountain and Sugarbush Resort in Vermont; Snowshoe Mountain in West Virginia; Tremblant in Quebec and Blue Mountain in Ontario, Canada; Crystal Mountain in Washington; Deer Valley Resort and Solitude Mountain Resort in Utah; and CMH Heli-Skiing & Summer Adventures in British Columbia. Also included in the portfolio is Alpine Aerotech, a worldwide helicopter support and maintenance service center in British Columbia, Canada, Aspenware, the ski industry leader in technology services and e-commerce, and Ski Butlers, the global leader in ski and snowboard rental delivery. For more information, please visit www.alterramtnco.com.

About Ikon Pass

The Ikon Pass welcomes skiers and riders to a community of inspiring mountain destinations and the people who live and play among them across the Americas, Europe, Australia, New Zealand, and Japan. Brought to you by Alterra Mountain Company, the Ikon Pass unlocks adventure at iconic and unique destinations including Aspen Snowmass, Steamboat, Winter Park, Copper Mountain Resort, Arapahoe Basin, and Eldora Mountain Resort in Colorado; Palisades Tahoe, Mammoth Mountain, June Mountain, Big Bear Mountain Resort and Snow Valley in California; Jackson Hole Mountain Resort in Wyoming; Big Sky Resort in Montana; Alyeska Resort in Alaska; Stratton, Sugarbush Resort, and Killington in Vermont; Windham Mountain in New York; Snowshoe in West Virginia; The Highlands and Boyne Mountain in Michigan; Crystal Mountain and The Summit at Snoqualmie in Washington; Mt. Bachelor in Oregon; Sun Valley and Schweitzer in Idaho; Tremblant in Quebec and Blue Mountain in Ontario, Canada; SkiBig3 in Alberta, Canada; Revelstoke Mountain Resort, RED Mountain, Cypress Mountain, Panorama Mountain Resort and Sun Peaks Resort in British Columbia, Canada; Sunday River and Sugarloaf in Maine; Loon Mountain in New Hampshire; Taos Ski Valley, New Mexico; Deer Valley Resort, Solitude Mountain Resort, Brighton Resort, Alta Ski Area, Snowbird and Snowbasin in Utah; Chamonix Mont-Blanc Valley in France, Dolomiti Superski in Italy, Grandvalira Resorts Andorra in Andorra, Kitzbühel in Austria, Zermatt in Switzerland; Thredbo and Mt Buller in Australia; Coronet Peak, The Remarkables, Mt Hutt in New Zealand; Niseko United and Lotte Arai Resort in Japan, and Valle Nevado in Chile. Special offers are available at CMH Heli-Skiing & Summer Adventures, the world’s largest heli-skiing and heli-accessed hiking operation. For more information, please visit www.ikonpass.com.

About Schweitzer

Considered by many as the best skiing in Idaho and the best family-friendly resort in the Pacific Northwest, Schweitzer ranks as one of the nation’s top winter destinations with 2,900 acres of incredible terrain thanks to two massive bowls and renowned tree skiing. Located in the rugged Selkirk Mountains of the northern Idaho panhandle, and only 80 miles from Spokane, WA, Schweitzer overlooks the town of Sandpoint, ID and offers breathtaking views of three states, Canada and the impressive Lake Pend Oreille. For more information on Schweitzer, visit www.schweitzer.com.

Contacts

Amelie Bruzat

The Ashima Group

[email protected]