PLACER COUNTY, CA - Two legendary Tahoe-area ski resorts are joining forces under common ownership in a deal announced Tuesday that will allow skiers and snowboarders access to 6,000 acres of terrain with a single lift ticket.
Squaw Valley and Alpine Meadows, separated by a single ridge between Truckee and Tahoe City, expect to close the deal before the first major snowfall of the season.
The merger will also lead to facility improvements at Alpine Meadows, according to a joint news release.
"Combining Alpine Meadows and Squaw Valley will provide our guests something truly remarkable - a mountain experience unmatched in California, inclusive of expansive and family friendly terrain," said Andy Wirth, president and CEO of Squaw Valley in a prepared statement.
Wirth will become president and CEO of the new combined entity.
The joint news release offered the following details:
As part of the transaction, an investment affiliate of JMA Ventures (JMA), will convert its ownership of Alpine Meadows into partial ownership of the combined company. KSL Capital Partners, LLC (KSL), the owner of Squaw Valley, will be the majority owner of the combined company.
Both owners have a deep commitment to the two resorts and to the Tahoe region. KSL, as part of its acquisition of Squaw Valley, has earmarked $50 million in capital improvements to Squaw Valley over the next three to five years, many of which will be apparent this winter.
Customers can also anticipate that Alpine Meadows will see a substantial investment in the guest experience.
JMA will continue to independently own and operate Homewood Mountain Resort.
by George Warren, GWarren@news10.net