Mountain High and Dodge Ridge owners, Invision Capital and Karl Kapuscinski purchased China Peak Mountain Resort in Lakeshore, CA from long-time owner Tim Cohee, a ski industry veteran who’s spent the past 12 years at the helm of China Peak. Cohee will stay on as the resort’s general manager.
“As of Friday I have completed the sale of China Peak Mountain Resort to Private Equity firm Invision Capital based in Chicago,” said Cohee. “I have agreed to remain general manager for the foreseeable future. We were not anxious sellers, but Karl and Invision were very interested in having a resort group that covers most of California’s market geographically.”
All three resorts, which are stacked south-to-north along a 300-mile stretch of California mountains, are members of the Indy Pass and the reciprocal Powder Alliance partnership. Kapuscinski sees an enormous opportunity in uniting the three areas under common ownership and creating a centralized pass for regional skiers.
With the purchase, Invision becomes the third company to own three or more ski areas in California, joining Vail Resorts’ three (Heavenly, Kirkwood, Northstar), and Alterra Mountain Company’s five (Mammoth, June, Palisades Tahoe, Big Bear, and Snow Summit). Kapuscinski said that the purchase was a direct reaction to the footprint creep of the Epic and Ikon Passes, whose build-up of high-profile resorts, particularly around Lake Tahoe, has rapidly changed the state’s season pass market.
“Skiers are now trained to look for multi-mountain products, so it’s difficult as a standalone operator,” Kapuscinski said. “We see a huge advantage in having all three resorts under the same umbrella versus fighting alone.”
Invision is now the 12th U.S.-based company to own three or more ski areas, and one of a growing number of regional operators building mini-networks to create local alternatives to the national mega passes. The addition of China Peak comes 16 months after Invision and Kapuscinski, who has run Mountain High since 1997, purchased Dodge Ridge from longtime owners, Frank and Sally Helm. “We may not be finished,” Kapuscinski said confirming he and Invision could add more ski areas to its portfolio.
Kapuscinski and Cohee will combine operational strengths to enhance all three resorts.
Photo courtesy China Peak Mountain Resort
