Schweitzer owner enters into agreement to sell resort operations business to Alterra Mountain Company

 

Schweitzer owner enters into agreement to sell resort operations business to Alterra Mountain Company

The acquisition expands Alterra's portfolio to 17 year-round mountain destinations across North America

 

Sandpoint, ID - June 1, 2023 - MKM Trust, owner and developer of Schweitzer, announces that it has agreed to sell Schweitzer’s resort operations assets to Alterra Mountain Company. Schweitzer expands Alterra’s portfolio in the Pacific Northwest, joining Crystal Mountain in Washington. The addition of Schweitzer will bring the company’s total to 17 year-round mountain destinations throughout North America.

As the only mountain resort within the MKM Trust portfolio for the past 18 years, Schweitzer has been consistently recognized as one of the region’s top ski destinations, in part due to significant strategic investments that have been made over the past several years. With room for growth and plans for future expansion and development, MKM’s decision to exit the resort operations business puts Schweitzer in a favorable position to begin a new chapter with Alterra at the helm.

“Since becoming an Ikon Pass partner in 2021, we’ve had the good fortune of learning how Alterra Mountain Company has quickly evolved into an industry leader,” said Tom Chasse, President and CEO of Schweitzer. “The company’s commitment to preserving the authenticity of their mountain communities while investing in the overall mountain experience is what we’re most looking forward to as the newest member of the Alterra family.”

Starting in the early 2000’s, over $100M in capital has been invested into Schweitzer to help fortify itself as a premier destination in the Pacific Northwest, including terrain expansion, 5 new lifts, Sky House - on-mountain day lodge, Humbird - a 31-unit boutique hotel in Schweitzer's village, and Cambium - a brand new wellness spa.

“With an incredible mountain in one of the most beautiful settings in the country and a world-class operating team, Schweitzer has everything we look for in a destination,” said Jared Smith, President & CEO, Alterra Mountain Company. “The mountain has been a valued partner on the Ikon Pass for several seasons so we’ve been able to see the exceptional team, community, and opportunities for continued investment up close.”

Tom Chasse will stay on as President and CEO of Schweitzer and will oversee daily operations of the destination and future capital improvement plans.

The MKM Trust, which has been the owner and developer of Schweitzer for the past 18 years, will retain non-ski operations real estate holdings, and will continue to lead future real estate development projects that support the vibrancy of the Schweitzer community.

The transaction is expected to close later in 2023, and is subject to certain closing conditions, including regulatory approvals. Terms of the transaction were not disclosed. More details will be released once the transaction has closed.

 

About Schweitzer

Considered by many as the best skiing in Idaho and the best family-friendly resort in the Pacific Northwest, Schweitzer ranks as one of the nation’s top winter destinations with 2,900 acres of incredible terrain thanks to two massive bowls and renowned tree skiing. Located in the rugged Selkirk Mountains of the northern Idaho panhandle, and only 80 miles from Spokane, WA, Schweitzer overlooks the town of Sandpoint, ID and offers breathtaking views of three states, Canada and the impressive Lake Pend Oreille. For more information on Schweitzer, visit www.schweitzer.com.

About Alterra Mountain Company

Alterra Mountain Company is a family of 16 iconic year-round resorts, the world’s largest heli-skiing operation, and Ikon Pass - the premier ski and snowboard season pass offering access to more than 50 iconic mountain destinations around the world. Headquartered in Denver, Colorado and born out of a shared love of the mountains and adventure, the company has brought together some of the world’s most aspirational brands, including: Steamboat and Winter Park in Colorado; Palisades Tahoe, Mammoth Mountain, June Mountain, Big Bear Mountain Resort and Snow Valley in California; Stratton Mountain and Sugarbush Resort in Vermont; Snowshoe Mountain in West Virginia; Tremblant in Quebec and Blue Mountain in Ontario, Canada; Crystal Mountain in Washington; Deer Valley Resort and Solitude Mountain Resort in Utah; and CMH Heli-Skiing & Summer Adventures in British Columbia. Also included in the portfolio is Alpine Aerotech, a worldwide helicopter support and maintenance service center in British Columbia, Canada, Aspenware, the ski industry leader in technology services and e-commerce, and Ski Butlers, the global leader in ski and snowboard rental delivery. For more information, please visit www.alterramtnco.com.

About Ikon Pass

The Ikon Pass welcomes skiers and riders to a community of inspiring mountain destinations and the people who live and play among them across the Americas, Europe, Australia, New Zealand, and Japan. Brought to you by Alterra Mountain Company, the Ikon Pass unlocks adventure at iconic and unique destinations including Aspen Snowmass, Steamboat, Winter Park, Copper Mountain Resort, Arapahoe Basin, and Eldora Mountain Resort in Colorado; Palisades Tahoe, Mammoth Mountain, June Mountain, Big Bear Mountain Resort and Snow Valley in California; Jackson Hole Mountain Resort in Wyoming; Big Sky Resort in Montana; Alyeska Resort in Alaska; Stratton, Sugarbush Resort, and Killington in Vermont; Windham Mountain in New York; Snowshoe in West Virginia; The Highlands and Boyne Mountain in Michigan; Crystal Mountain and The Summit at Snoqualmie in Washington; Mt. Bachelor in Oregon; Sun Valley and Schweitzer in Idaho; Tremblant in Quebec and Blue Mountain in Ontario, Canada; SkiBig3 in Alberta, Canada; Revelstoke Mountain Resort, RED Mountain, Cypress Mountain, Panorama Mountain Resort and Sun Peaks Resort in British Columbia, Canada; Sunday River and Sugarloaf in Maine; Loon Mountain in New Hampshire; Taos Ski Valley, New Mexico; Deer Valley Resort, Solitude Mountain Resort, Brighton Resort, Alta Ski Area, Snowbird and Snowbasin in Utah; Chamonix Mont-Blanc Valley in France, Dolomiti Superski in Italy, Grandvalira Resorts Andorra in Andorra, Kitzbühel in Austria, Zermatt in Switzerland; Thredbo and Mt Buller in Australia; Coronet Peak, The Remarkables, Mt Hutt in New Zealand; Niseko United and Lotte Arai Resort in Japan, and Valle Nevado in Chile. Special offers are available at CMH Heli-Skiing & Summer Adventures, the world’s largest heli-skiing and heli-accessed hiking operation. For more information, please visit www.ikonpass.com.