Vail Resorts Buys Kirkwood For $18 Million

LAKE TAHOE (CBS13) – Vail Resorts has purchased Kirkwood Mountain Resort in Lake Tahoe for $18 million.

Vail Resorts made the announcement Wednesday morning. With this purchase, Vail Resorts now owns three ski resorts in the Tahoe area including Northstar and Heavenly.

And skiers can now ski those three resorts with one pass! Kirkwood passholders can now ski at Northstar and Heavenly, and Northstar and Heavenly passholders can use Kirkwood. For more on how to use your pass, visit www.bestoftahoe.com.

We are thrilled to welcome Kirkwood into our family as our seventh world-class mountain resort. Kirkwood offers some of the most extraordinary ski terrain found anywhere in North America with high alpine trails and the most annual average snowfall in Lake Tahoe. Kirkwood represents skiing and riding at its purest, something we intend to retain and protect long into the future," said Rob Katz, chairman and chief executive officer of Vail Resorts.

The deal includes residential and commercial property at the base. Kirkwood will continue to be involved in the property development.

Vail Resorts expects to close the deal next month, contingent on transfer of the U.S. Forest Service permit.