Deer Valley Resort announced Monday that is has entered into an agreement to be purchased by a newly formed entity that also owns Squaw Valley, Mammoth Mountain Ski Area in California, Steamboat, among others. Bob Wheaton, president and general manager of the resort, says Deer Valley is well positioned for the future. He says this deal represents an opportunity for the iconic ski area. The entity is a newly formed venture comprising affiliates of the private equity firm KSL Capital Partners, LLC, and Henry Crown and Company, which recently partnered to acquire Intrawest Resort Holdings, Inc., Mammoth Resorts, Squaw Valley Ski Holdings as well as Steamboat. Deer Valley will join more than 10 ski resorts the privately held multi-resort entity owns and operates. Wheaton said the values of the venture align with Deer Valley's longstanding mission of delivering a first-class guest experience in an ethical way that lifts the community.
When high-profile resorts started to get acquired, and the value of these resorts was being realized in the marketplace, we started getting phone calls -- very credible phone calls. Deer Valley was not officially for sale, and it was never marketed for sale.” -- Bob Wheaton, president and general manager, Deer Valley Resort