Market Overview

Alterra Mountain Company Closes on Solitude Mountain Resort in Utah

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Expanding the Company's Family of Destinations and Experiences in
Utah

Alterra
Mountain Company
announced today the completion of the previously
announced acquisition of Solitude Mountain Resort in Utah, bringing the
company's total to 13 year-round mountain destinations throughout North
America, including the world's largest heli-skiing operation.

"We are thrilled to officially welcome Solitude Mountain Resort to the
Alterra Mountain Company family and excited to expand our reach within
Utah to offer another premier ski and snowboard experience to our
guests," said Rusty Gregory, Chief Executive Officer, Alterra Mountain
Company. Solitude Mountain Resort is located just 34 miles from the Salt
Lake City International Airport (SLC) and less than an hour from Deer
Valley Resort, in the renowned Big Cottonwood Canyon. The mountain
offers skiers and riders 77 runs, three bowls, and a vertical drop of
2,030 feet (619 meters) across 1,200 acres, plus some of the most
impressive off-piste terrain in the country. The quaint base village
offers ski-in/ski-out accommodations along with year-round activities
for guests. Terms of the transaction were not disclosed. More details
will be released soon, including Ikon Pass inclusion details.

Alterra Mountain Company's destinations offer premium ski, snowboard and
all-season activities for those who seek adventure, freedom, and fun in
the great outdoors. Current destinations that make up Alterra Mountain
Company are spread throughout five states and three Canadian provinces:
Steamboat and Winter Park Resort in Colorado; Squaw Valley Alpine
Meadows, Mammoth Mountain, June Mountain and Big Bear Mountain Resort in
California; Stratton in Vermont; Snowshoe in West Virginia; Tremblant in
Quebec, Blue Mountain in Ontario; Deer Valley Resort and Solitude
Mountain Resort in Utah; and CMH Heli-Skiing & Summer Adventures in
British Columbia. Alterra Mountain Company was created when affiliates
of KSL Capital Partners, owners of Squaw Valley Alpine Meadows, and
affiliates of Henry Crown and Company purchased Intrawest, Mammoth
Resorts, and Deer Valley Resort in 2017.

At each destination, Alterra Mountain Company leaders are empowered to
be decisive, creative, and bold in order to retain each mountain's
authentic character. Recognizing the innate value of the unique culture
found at each of the mountain communities, Alterra Mountain Company's
goal is to preserve, sustain and support its two most important
resources: the mountains and the people who live and play in them.

In January 2018, Alterra Mountain Company introduced the Ikon
Pass
for winter 2018-2019, the new standard in season passes. The
Ikon Pass offers skiers and riders access to premier mountain
destinations throughout North America and Australia, including 13
Alterra Mountain Company destinations, plus 15 partner destinations.

About Alterra Mountain Company

Alterra Mountain Company is a family of 13 iconic year-round
destinations, including the world's largest heli-ski operation, offering
the Ikon Pass, the new standard in season passes. The company owns and
operates a range of recreation, hospitality, real-estate development,
food and beverage and retail businesses. Headquartered in Denver,
Colorado with destinations across the continent, Alterra Mountain
Company is rooted in the spirit of the mountains and united by a passion
for outdoor adventure. Alterra Mountain Company's family of diverse
playgrounds spans five U.S. states and three Canadian provinces:
Steamboat and Winter Park Resort in Colorado; Squaw Valley Alpine
Meadows, Mammoth Mountain, June Mountain and Big Bear Mountain Resort in
California; Stratton in Vermont; Snowshoe in West Virginia; Tremblant in
Quebec, Blue Mountain in Ontario; Deer Valley Resort and Solitude
Mountain Resort in Utah; and CMH Heli-Skiing & Summer Adventures in
British Columbia. Alterra Mountain Company honors each destination's
unique character and authenticity and celebrates the legendary
adventures and enduring memories they bring to everyone. For more
information, visit www.alterramtnco.com.

About Ikon Pass

The Ikon Pass is the new standard in season passes, connecting the most
iconic mountains across North America and Australia, delivering
authentic, memorable snow adventures. Brought to you by Alterra Mountain
Company, the Ikon Pass unlocks access to a community of diverse
destinations you want to ski and ride, including Aspen Snowmass,
Steamboat, Winter Park Resort, Copper Mountain and Eldora in Colorado;
Squaw Valley Alpine Meadows, Mammoth Mountain, June Mountain and Big
Bear Mountain Resort in California; Jackson Hole Mountain Resort in
Wyoming; Big Sky in Montana; Stratton, Killington and Sugarbush Resort
in Vermont; Snowshoe in West Virginia; Tremblant in Quebec and Blue
Mountain in Ontario, Canada; SkiBig3 in Alberta, Canada; Revelstoke
Mountain Resort in British Columbia, Canada; Sunday River and Sugarloaf
in Maine; Loon Mountain in New Hampshire; Deer Valley Resort, Solitude
Mountain Resort, Alta and Snowbird in Utah and Thredbo in Australia.
Special offers are available at CMH Heli-Skiing & Summer Adventures, the
world's largest heli-skiing operation. For more information on the Ikon
Pass, visit www.ikonpass.com.

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