Business

Deer Valley Resort ownership raises over $3 billion supporting Alterra’s growth

'We look forward to continuing to work with Alterra in its next stage of growth.' - Eric Resnick, CEO of KSL

DENVER, Colo. — KSL Capital Partners (KSL), a prominent player in the travel and leisure industry and an owner of Alterra Mountain Company, has finalized the closing of a single-asset continuation vehicle dedicated to Alterra Mountain Company with over $3 billion dollars in commitments. Alterra Mountain Company is a family of 17 year-round resorts, including Deer Valley Resort in Park City, a heli-skiing operation and the Ikon Pass.

Eric Resnick, CEO of KSL, shared, “This transaction allowed us to provide a significant return of capital to those existing investors who desired liquidity while welcoming a new set of investors who share our excitement about Alterra’s future. We look forward to continuing to work with Alterra in its next stage of growth.”

Jared Smith, CEO of Alterra, said, “We will continue to innovate and elevate while remaining good stewards of these incredible places we get to call home.”

The release did not outline where the capital would be deployed, but we do know there are 16 new chairlifts and a ten-passenger gondola coming to Deer Valley’s newly acquired East Village, as well as a massive redevelopment on the Snow Park base area.

If financing were a concern for advancing these projects on time, it would appear the coffers are now full.

Full Press Release.

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