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Vail Resorts acquiring two Australian ski resorts
Ski resort operator Vail Resorts is expanding its presence down under with the purchase of two ski fields in Victoria, Australia.
It will take control of Falls Creek Alpine Resort and Hotham Alpine Resort from Living and Leisure Australia Group (LLA), which is a subsidiary of Merlin Entertainments.
Vail is paying approximately A$174 million.
Falls Creek is Victoria’s largest ski resort and is noted as highly suitable for families and first-timers.
Hotham is the only ski resort in the Southern Hemisphere where the village is sited on the mountain top offering ski-in, ski-out opportunities.
"We are thrilled to welcome the guests and employees of both Falls Creek and Hotham into the Vail Resorts family and further strengthen our position in Australia, which is one of our most important international markets," said Rob Katz, CEO of Vail Resorts.
The deal includes all ski school, rental, reservation and property management operations at both resorts.
Vail also owns Perisher ski resort which it acquired in 2015.
The transaction is expected to close ahead of the opening of the Australian snow season in June.
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