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Cross Border News  + Canada  + Ontario  + Hospitality  | 
Canada's Dream Unlimited has agreed to sell a Colorado ski resort to U.S.-based Alterra Mountain Company.

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.

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Dream UnlimitedAlterra Mountain Company

About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.

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