Vail Resorts has agreed to buy all of the ski-mountain
operations at Vermont's Stowe Mountain Resort for $50 million.
Stowe, which includes the Mount Mansfield and Spruce Peak
ski areas, will become Vail's first East Coast resort.
Vail is buying the ski resort from American International
Group. AIG will retain ownership of the Stowe Mountain Lodge, Stowe Mountain
Club and Stowe Country Club.
Once the transaction is completed, Vail said it expects the
Vermont resort to be part of Vail's Epic Pass for the 2017-18 ski season. That
amenity allows skiers to buy a common pass that can be used at multiple Vail
resorts. Vail's holdings include four Colorado resorts (Breckenridge, Vail,
Keystone and Beaver Creek), Park City in Utah and Whistler Blackcomb in British