Alterra Group To Buy Arapahoe Basin

The Alterra Mountain Company has signed a contract to purchase Arapahoe Basin ski area in Colorado. The closing of the deal is expected to occur later this year.

Arapahoe Basin is one of the world’s highest altitude ski areas and has one of the longest ski seasons in North America, usually running from Later October to early June.

The Alterra Mountain Company was established by a private equity group in 2017 and is the main rival to the Vail Resorts Group, operating their Ikon pass as rival to Vail’s Epic Pass. Alterra owns 17 North American resorts including Colorado resorts Steamboat and Winter Park as well as other leading ski areas including Deer Valley, Mammoth, Palisades and Mont Tremblant..

It was recently reported the group had raised $3 billion to continue property projects at its resorts and for further ski area purchases.  

“Since its founding in 1946, Arapahoe Basin has experienced dramatic changes. Founded by Colorado Ski Hall of Famer Larry Jump, The Basin is one of the state’s original and most dramatic ski resorts. In 1972 Larry sold the place to the area’s General Manager, Joe Jankowsky. Six years later, Joe sold The Basin to a very unlikely owner, Ralston Purina. Completing a near scrape off, the dog food giant began shaping the modern Arapahoe Basin. In 1997, after being spun out of what became today’s Vail Resorts, The Basin was purchased by another unlikely owner, Toronto developer Dundee Realty, later known as Dream. Through steady investment (snowmaking, all new lifts, buildings, parking lots, etc.)  and closely paying attention to what guests say and want, Dream fostered the environment and place we all know and love today. I don’t think another company could have created what Dream did,” said Arapahoe Basin’s COO Alan Henceroth, who added,

“After 27 years (the longest ownership of The Basin) and a tremendous amount of work and success, Dream has decided it is time to sell and Alterra is ready to buy. I am so thankful for all that my boss Michael Cooper and Dream have done. It has been a wild and fun 27 years, but it is time for the next step. Through the Ikon Pass, Alterra has created a partnership of the greatest resorts in the world. They know and understand The Basin and are enamoured by its culture and vibe. I think they are the best team to help us through our next phase of growth and maturation.”