Vail Resorts, Inc. added a second Lake Tahoe resort to its portfolio with its acquisition of Northstar-at-Tahoe Resort in North Lake Tahoe, CA.
Vail Resorts acquired the stock of the companies that operate Northstar-at-Tahoe from Booth Creek Resort Properties LLC and other sellers for total consideration of $63 million. Booth Creek will continue to own and operate the separate Sierra-at-Tahoe resort.
The operations of Northstar-at-Tahoe are conducted on land owned by CNL Lifestyle Properties, Inc. which will be leased to Vail Resorts under a long-term agreement. Vail Resorts already operates Heavenly Mountain Resort in South Lake Tahoe.
Vail Resorts announced that Julie Maurer, vice president of marketing and sales at Booth Creek will immediately become a vice president of marketing with Vail Resorts, overseeing the marketing and sales of both Heavenly Mountain Resort and Northstar-at-Tahoe Resort. Vail Resorts has begun searching for a new general manager of Northstar-at-Tahoe.
Northstar is host to a new base area village featuring 35 unique shops and restaurants in more than 100,000 square feet of commercial retail space, a conference center, a 9,000-square-foot skating rink, on-site lodging, special events and more. A winter sports paradise, the mountain offers 19 lifts, 92 ski trails spread across 3,000 acres, snowmaking that covers 50 percent of the ski trails, seven terrain parks and snow sports including alpine and telemark skiing, snowboarding, cross-country skiing, snowshoeing and tubing. Summer activities include mountain biking, golfing, scenic lift rides for sightseeing and hiking, fly-fishing and more. During the 2009-2010 ski season, Northstar-at-Tahoe saw more than 700,000 skier visits.
