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Vail Resorts Completes Purchase of Two Urban Ski Areas in Midwest

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UPDATE: Vail Resorts Posts Wider FQ4 Loss, Revenue Beats View
Earnings Scheduled For September 24, 2014

Vail Resorts, Inc. (NYSE: MTN) today announced that the Company has closed on its acquisition of two premier urban ski areas in the Midwest, Afton Alps in Minnesota and Mount Brighton in Michigan, for total cash consideration of $20 million. Both ski areas serve major snow sports markets in the Midwest with more than 468,000 active skiers and snowboarders in the nearby Minneapolis-St. Paul and Detroit metropolitan areas. Vail Resorts plans to upgrade and enhance the guest experience at each ski area and create opportunities to connect guests from each of these ski areas to its seven world-class resorts in Colorado and Lake Tahoe through season pass and other lift ticket products.

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