Snow Business: Sales of Okemo, Catamount Announced

Two snow sports resorts popular with Connecticut skiers and snowboarders — Okemo in Vernon and Catamount in the Berkshires — have been sold.

Here is Monday's announcement from Okemo:

LUDLOW, VT — Triple Peaks, LLC, owned by Tim and Diane Mueller, and their children Ethan and Erica Mueller, announced today they have entered into a purchase agreement with Vail Resorts, Inc. Triple Peaks, LLC is the parent company for Okemo Mountain, in Ludlow, Vt., Mount Sunapee, in Newbury, N.H., and Crested Butte Mountain Resort in Mt. Crested Butte, Colo.

The sale includes the three ski resort operations, as well as Okemo Valley Golf Club in Ludlow, Vt., and Tater Hill Golf Club in Windham, Vt. As part of the transaction, Vail Resorts will also own the leasehold assets presently owned by Och-Ziff Real Estate.
“Diane and I are incredibly proud of what we have accomplished at the three resorts for the last 36 years,” remarked Tim Mueller, co-owner and president of Triple Peaks, LLC. “We have had the great privilege of working with a lot of smart, hardworking, dedicated team members, as well as many other people in the local communities and the states where the resorts are located.”
Co-owner and executive-vice president Diane Mueller adds, “Over the years, we have honored each resort’s distinctive attributes, thus establishing a culture and brand at each resort which has translated into visitation by millions of loyal guests over the years. Knowing that Vail Resorts has a knowledgeable, invested and experienced team gives us optimism about the future of our resorts, our dedicated employees, and our local communities.”
“We’re very much looking forward to welcoming Crested Butte, Okemo and Mount Sunapee to our family of resorts, and each of their teams into our company” said Rob Katz, chairman and chief executive officer of Vail Resorts. “These three resorts add incredibly unique and special experiences to our portfolio, and will truly enhance the variety of options for all our guests.”
The sale is anticipated to close later this summer. During the transition period prior to closing, the Mueller family and the three resort leadership teams will continue to operate each area while collaborating with Vail Resorts on the transition. Upon closing, Vail Resorts will lead the resorts into the future.
Vail Resorts will honor any previously purchased Okemo, Mount Sunapee or Crested Butte season passes for the 2018-19 winter season as they integrate the resorts into the Epic Pass and other Vail Resorts pass products.

Here is the May announcement from Catamount:

CHARLEMONT, MA — MAY 4, 2018 - The owner operators of Berkshire East Mountain Resort have entered into an agreement to buy Catamount Ski Area, Hillsdale, NY/S. Egremont, MA, with management in place.

The transaction is scheduled to close in May 2018 with no interruption of operations at Catamount.

This acquisition brings together two long standing southern New England ski area owner operators, whose owners share a common vision for the growth and potential for western Massachusetts.

After a decade long investment phase and growth at Berkshire East, the Schaefer’s will bring to Catamount a clear vision for the creation of a dynamic year-round business and world class summer activities.

“Our experience at Berkshire East has proven that it is possible to transition a ski area in the Berkshires into a dynamic adventure based, four season resort with world class mountain biking and zip lining, while featuring one of the longest mountain coasters in North America, white water rafting, the top wedding venue according to Yankee Magazine, and adventure park.” Says Jon Schaefer, owner of Berkshire East. “It is our intent to introduce most of these activities at Catamount within the next two years. We also intend to renovate the existing main lodge and build a new lodge in the base area during the summer of 2018.”

Catamount is located in the Berkshires and straddling the MA, NY border and operates on approximately 385 acres. Catamount’s 36 trails cover approximately 100 acres of terrain. Summer operations at Catamount include an aerial adventure park with twelve self-guided tree-top courses including three zip line courses.
Catamount’s summer landscaping business will continue to service clients in southern Berkshire and eastern Columbia counties.

Photo Credit: (Okemo) Chris Dehnel