With the first word a blend of altitude and terrain, Alterra Mountain Co. is the name of Deer Valley Resort’s new parent company.
Denver-based Alterra burst onto the scene in 2017. Formed by a joint venture of the private equity firm KSL Capital Partners and the investment firm Henry Crown and Co., the company acquired longtime ski-industry player Intrawest in July, then surprised the Utah ski world a month later with its acquisition of Deer Valley for an undisclosed price.
The partnership quickly built a portfolio that includes 11 resorts — four in California, one each in Vermont, West Virginia, Quebec, Ontario and Utah, and two in Colorado — plus a heli-skiing operation in British Columbia.
Closely aligned with it are four resorts around Aspen, Colo., owned by Henry Crown, a century-old firm involved in publicly traded securities, real estate, investment funds and privately held operating companies.
All of this was done without a name, until Thursday, when the partners described Alterra as a term that reflects the company’s goal to “preserve, sustain and support its two most important resources: the mountains and the people who live and play in them.”
Calling each of the company’s resorts unique, Alterra President and CEO David Perry said, “Our vision is to protect and enhance what makes each destination special, inviting guests back to their favorite mountain and enticing them to visit new destinations on their bucket list.”
A company release said new season pass products will be unveiled in the next few months. Local ski-industry officials expect Alterra to create a product designed to rival the Epic Pass that Vail Resorts has marketed with great success in recent years, particularly since its acquisition of Park City Mountain in Utah and Stowe Mountain Resort in Vermont.
Alterra’s growth pattern is much like Vail’s, with the addition of Deer Valley giving the company a holding in the western Rocky Mountains to go with a sizable presence in Colorado and California.
While Alterra’s additional resorts cross the Northeast from West Virginia to Canada, Vail Resorts just entered the New England market by buying Stowe and also has holdings near big Midwestern cities and in Australia.
Deer Valley’s management structure remained in place after last August’s purchase. Perry said in Thursday’s release that leaders at each resort are “empowered to be decisive, creative and bold in order to retain each mountain’s authentic character.”
“We respect and continue to learn from the pioneers and leaders that built these iconic locations and paved the way before us,” he added, “as we push the boundaries and innovate for our future.”
Alterra Mountain Co. resorts include Steamboat and Winter Park in Colorado; Squaw Valley Alpine Meadows,Mammoth Mountain, June Mountain and Big Bear Mountain Resort inCalifornia; Stratton in Vermont; Snowshoe in West Virginia; Tremblant inQuebec, Blue Mountain in Ontario; Deer Valley in Utah; and CMHHeli-Skiing & Summer Adventures in British Columbia.
Henry Crown and Co.’s Aspen Skiing Company owns and operates four mountains around Aspen – Snowmass, Aspen Mountain, Aspen Highlands, and Buttermilk.