US ski resort operator Vail Resorts is expanding its reach much further than Utah with the announced acquisition of the largest ski area in the Southern Hemisphere.
The Colorado company has agreed a $136 million deal for the 3,000-acre resort Perisher Ski Resort in New South Wales, Australia.
This is Vail’s first overseas acquisition, aimed at tapping the profitable Australian market.
"There aren’t that many US skiers going to Australia to ski, but on the other hand, there are huge amounts of Australians going to the US. They’re one of the most lucrative markets," said Vail Resorts CEO Rob Katz.
"For us, the goal for the acquisition is to bring more Australian skiers to our resorts, including our resorts in Colorado," Katz added.
Ahead of the deal completion next month, Perisher has reopened sales for its unlimited skiing Freedom Pass adding access to Vail’s 11 resorts including Vail, Beaver Creek, Breckenridge and Park City, Utah.
