Deer Valley Acquired

Deer Valley Resort to be Acquired by Newly Formed Resort Company and Joined with Intrawest, Mammoth Resorts, and Squaw Valley Ski Holdings         New Company’s portfolio increases from 12 four-season mountain resorts to 13
with the addition of iconic Utah resort.   The newly formed entity controlled by affiliates of KSL Capital Partners, LLC and Henry Crown and Company that in July joined Intrawest Resorts Holdings, Inc., Mammoth Resorts and Squaw Valley Ski Holdings today announced, with Deer Valley Resort, that they have entered into a definitive agreement for the newly formed entity to acquire Deer Valley Resort.  Financial terms of the transaction were not disclosed.  The transaction is subject to certain closing conditions and is anticipated to close prior to the upcoming 2017-18 ski season. “Deer Valley Resort is one of the preeminent mountain resorts in the world and is a tremendous addition to our existing portfolio.  Prior to this acquisition, we were able to offer our guests exceptional experiences throughout most of North America’s major ski regions, but we did not have a resort in Utah, a state that is renowned for great skiing and mountain town life.  Park City and Salt Lake skiers have always known that powder, blue skies, a huge variety of terrain, and exemplary guest service have always set Deer Valley Resort apart,” said David Perry, president and chief operating officer of the new joint venture. “We could not be more pleased that Deer Valley Resort will be part of our new company, and we look forward to working with the staff and Park City community to carry on the traditions that make it so special,” added Mr. Perry. “We are thrilled to join this impressive portfolio with 12 other resorts and are excited about the opportunities this transaction will create for our guests, staff, and the community of Park City.  Deer Valley is a special place and being part of its growth has been one of the great joys of my life,” said Bob Wheaton, president and general manager.  “Joining this portfolio of resorts will enable Deer Valley to build upon its outstanding traditions and further enhance our ability to provide our guests with a world class skiing experience. I look forward to working with them as we develop our vision for the future of the resort and the new company.”