Vail Resorts Inc. announced Friday that the company has closed on its acquisition of the ski field leases and related infrastructure at Falls Creek Alpine Resort and Hotham Alpine Resort in Victoria, Australia.

The company purchased Australian Alpine Enterprises Holdings Pty. Ltd and all related corporate entities that operate Falls Creek and Hotham ski resorts from Living and Leisure Australia Group (LLA), a subsidiary of Merlin Entertainments for a final purchase price of approximately AU$179 million (US$127 million), after adjustments for certain agreed-upon terms, including an increase in consideration for operating losses incurred for the period from December 29, 2018 through closing.