The new Aspen Skiing Co.-KSL Capital Partners has purchased Eastern Sierra’s Mammoth Mountain, June Mountain, Snow Summit and Bear Mountain creating the second largest ski company next to Vail Resorts. The new purchase will add the Mammoth Resorts to their collection which now includes the 4 resorts in Aspen; Aspen Mountain, Snowmass, Buttermilk and Aspen Highlands, along with the newly acquired Steamboat Springs, Winter Park, Stratton in Vermont, Mont Tremblanc in Canada, Squaw Valley and Alpine Meadows in Tahoe.
For more than a year there had been talks about the "Aspen Jets" landing at Mammoth Airport. The rumors of a sale to Aspen Skiing Company are now verified true. Rusty Gregory, the chief executive of Mammoth Resorts, in a statement called the move “the next logical chapter in the story of Mammoth.” As the bumps of this new deal get worked out, Mammoth and the other resorts can expect to see upwards of a billion dollars in new development and facilities bringing life back to the art of skiing.
Mammoth will be resuscitated with new shops, restaurants and developments making the vacation experience more alive than ever before
When the first 50% sale of Mammoth went to Intrawest in 1996, Mammoth locals started moving out because they felt "big growth" was imminent. They did not want Mammoth to become "Aspen West." Except for the Village property, which has not been much of a success and never once has had 100% retail occupancy, or a parking lot, Mammoth saw little growth or much needed town wide improvements.
In 2005 when the other 50% of Mammoth was acquired by Starwood the building/ leasing of the condo / hotel property known as The Westin Monache was built. The condos are all individually owned, property managed by Mammoth Resorts and Westin, with Westin owning the first floor amenities only. At one point Westin tried selling their stake in the property, but no one wanted it.
The biggest win for this new partnership will be both the guest experience and the locals who will again thrive from redevelopment. At some point and not likely for 2017-2018 Aspen Skiing Company will combine all the resorts on to one giant season pass to rival Vail Resorts "Epic Pass". Over the past few years Mammoth has seen multiple brand name restaurants and retail jump ship because of the economy fluctuations but with this influx of travelers by season pass holders, Mammoth will likely see these business return. Vail Resorts has already proved this business model works and revives towns as third parties will come to build new town retail, increasing good paying jobs for locals, while making Mammoth a vibrant destination resort.