Multiple publications are claiming a sale may be imminent.
Monday, January 30, 2017, NewEnglandSkiIndustry.com
Nearly a week after the Stowe Reporter first published an article about a rumored sale, TheStreet.com is claiming discussions may have taken place.
According to the financial publication's article, "Stowe is for sale and directors from Vail visited the resort about a week ago."
According to both TheStreet.com and Stowe Reporter, neither Vail Resorts nor Stowe will comment on the rumored sale.
Stowe has been tied to AIG since the 1940s, when American International Group founder Cornelius Van der Starr began his financial involvement with the Vermont area. Even through its government bailout in the 2000s, Stowe has remained under the ownership of AIG or an AIG subsidiary.
A publicly traded company, Vail Resorts has grown at a blistering pace in recent years, acquiring Kirkwood, Heavenly, and Northstar in California; Afton Alps, Brighton, and Wilmot in the Midwest; the Canyons and Park City in Utah; Perisher in Australia; and Whistler Blackcomb in Canada; in addition to its existing Beaver Creek, Breckenridge, Keystone, Vail resorts in Colorado.
While Vail Resorts does not currently own any New England ski areas, its RockResorts subsidiary was involved in a Stowe development project a decade ago and once owned two small ski areas in Vermont, Suicide Six and Mt. Tom.
Vail Resorts has leveraged its diverse ski area holdings to grow its Epic season pass offerings. According to its fiscal 2017 first quarter earnings release, the company estimates it will have 650,000 season passholders this winter. The company posted a $62.6 million loss in the quarter.
As of October 31, 2016, Vail Resorts had $106.7 million in cash and cash equivalents and $1.37 billion in long term debt.