In a major development for the ski industry, Alterra Mountain Co. has announced its acquisition of Arapahoe Basin, a renowned ski area in Colorado. The purchase marks a significant milestone for both companies and solidifies Alterra Mountain Co.'s position as a leading player in the ski resort market.

Arapahoe Basin, affectionately known as "The Legend," spans 1,428 acres and has been a favorite destination for skiers and riders since its establishment in 1946. With its loyal following and rich cultural heritage, the ski area has remained an iconic name in the industry.

Despite the ownership change, Arapahoe Basin will continue to be managed by Alan Henceroth, its long-serving Chief Operating Officer with an impressive 36-year tenure. Henceroth expressed confidence in Alterra Mountain Co.'s commitment to preserving the authenticity and unique character of Arapahoe Basin.

The acquisition comes as part of Alterra Mountain Co.'s ongoing expansion strategy, which has seen the company add 18 year-round mountain destinations to its portfolio since its formation in 2017. With previous acquisitions such as Mammoth Resorts and Deer Valley, Alterra Mountain Co. aims to rival the industry-leading Epic Pass offered by Vail Resorts.

Under the new ownership, Arapahoe Basin is set to benefit from capital improvement plans, including expanded parking and snowmaking capabilities. These enhancements will further enhance the visitor experience and accommodate the growing popularity of the ski area.

While financial details of the sale were not disclosed, Alterra Mountain Co. has made substantial investments in its ski resorts, totaling $1.4 billion across its 16 properties. The company's commitment to providing access to premier skiing destinations worldwide is exemplified by its Ikon Pass, which grants access to over 50 resorts across five continents.

Arapahoe Basin joined the Ikon Pass in 2019 after severing ties with the Vail Resorts pass program. The decision was made to alleviate crowded parking lots caused by overwhelming demand from the Epic Pass users. The move proved fruitful for Arapahoe Basin, resulting in significant investments in new lifts and terrain expansions, including a notable 468-acre expansion into the Beavers and Steep Gullies in 2018-19.

The acquisition of Arapahoe Basin demonstrates Alterra Mountain Co.'s commitment to providing exceptional skiing experiences and further solidifies its presence in the ever-competitive ski resort market. This move, coupled with the recent infusion of $3 billion from investors and partners, positions Alterra Mountain Co. for continued growth and success in the industry.

As the ski season approaches, skiers and riders can look forward to enjoying the exciting offerings at Arapahoe Basin under the trusted management of Alan Henceroth and the support of Alterra Mountain Co.