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It's confirmed today that Vail Resorts is purchasing Crested Butte ski area. Some of the highlights are below:

HIGHLIGHTS:

  • Vail Resorts to Buy Crested Butte Ski Area for $82M

  • Vail to Pay off Lease Amounts of $155M

  • Includes all of Triple Peaks, LLC (parent company for Crested Butte, Okemo & Mt. Sunapee) 

  • Also Stevens Pass in Washington state will be acquired by Vail 

  • Vail to Invest $35M in all 4 Resorts over the Next 2 Years 

  • Expect Closing to Happen Sometime this Summer

 

What this means for Crested Butte Real Estate? 

  • Prices will most likely increase…

  • Property sales will most likely increase…

  • Property values will definitely increase…

             …because today, Crested Butte real estate is still considered a value….

 

Most importantly, the historic character of Crested Butte along with the small town feeling should still remain the same. Our biggest asset is the fact that 85% of our county is national forest, BLM or Wilderness lands preserving our area for future development.

Following is a an article that was published in the Denver Business Journal this morning:

https://www.bizjournals.com/denver/news/2018/06/04/vail-resorts-in-buying-spree-acquiring-crested.html