
Dream Selling Colorado Ski Resort
Canada’s Dream Unlimited has agreed to sell a Colorado ski resort to U.S.-based Alterra Mountain Company.
The Arapahoe Basin resort is located in Dillon, Colo., about 110 kilometres from Denver. Dream said it expects to earn an after-tax profit of $110 million before closing costs and adjustments.
The deal is expected to close in 2024.
“As part of our capital management and allocation strategy, we decided it was a good time to crystallize the investment to further increase our liquidity,” said Michael Cooper, Toronto-based Dream’s president and CEO, in a news release.
Dream acquired the resort in 1997, when it had only 490 skiable acres, and roughly tripled its size to 1,428 acres while also replacing all the lifts and most buildings, and opening two restaurants said to be the highest eatery locations in North America.
Arapahoe Basin’s management team, including COO Alan Henceroth, will continue to guide the ski area under Denver-based Alterra Mountain’s ownership.
- ◦Lease
- ◦Sale/Acquisition
- ◦Development
- ◦Financing
- ◦Policy/Gov't