Alterra Mountain Company To Purchase Colorado's Arapahoe Basin Ski Area

POWDER has learned via press release that Arapahoe Basin Ski Area's parent company Dream Unlimited Corp is selling the popular ski area to Alterra Mountain Company, the purveyors of the popular Ikon Pass.

The deal is expected to close later this year. More details can be found in Arapahoe Basin's COO Al Henceroth's blog, or in the embedded Instagram post below. The announcement was made on February 5, 2024:

Arapahoe Basin has been a partner resort on the Ikon Pass for the last three seasons, but remained independent despite the corporate consolidation of many of Colorado's world-class ski resorts.

A-Basin has been a beacon of hope for independently-owned ski areas across the country. While their neighbors slowly joined the ranks of large corporate ownership (besides Loveland Ski Area), A-Basin committed to limiting daily lift ticket sales, and preserving the skier experience as they saw fit.

In fact, the ski area made a conscious decision to leave the Epic Pass after years of over-crowding due to the popularity of the pass throughout the state of Colorado.

From the surface, it seemed like it was working, but today's news reminds us that the ski industry is a business, and money talks.

POWDER has confirmed that there won't be any changes in operations or pass access for the remainder of the Winter '23/'24 season. COO Al Henceroth will continue to lead the resort.

Please read Al Henceroth's full press release below:

"Alterra Mountain Company has signed a contract to purchase Arapahoe Basin. The closing of the deal is expected to occur later this year. Until the closing, all of us at The Basin still work for Dream and our primary objective is to deliver the same incredible A-Basin experiences that you have come to expect. Alterra has asked me to continue in my role at The Basin and I have said yes. There will be no change to Ikon Pass access at A-Basin for 2023-24 season.

Since its founding in 1946, Arapahoe Basin has experienced dramatic changes. Founded by Colorado Ski Hall of Famer Larry Jump, The Basin is one of the state’s original and most dramatic ski resorts. In 1972 Larry sold the place to the area’s General Manager, Joe Jankowsky. Six years later, Joe sold The Basin to a very unlikely owner, Ralston Purina. Completing a near scrape off, the dog food giant began shaping the modern Arapahoe Basin. In 1997, after being spun out of what became today’s Vail Resorts, The Basin was purchased by another unlikely owner, Toronto developer Dundee Realty, later known as Dream. Through steady investment (snowmaking, all new lifts, buildings, parking lots, etc.) and closely paying attention to what guests say and want, Dream fostered the environment and place we all know and love today. I don’t think another company could have created what Dream did.

After 27 years (the longest ownership of The Basin) and a tremendous amount of work and success, Dream has decided it is time to sell and Alterra is ready to buy. I am so thankful for all that my boss Michael Cooper and Dream have done. It has been a wild and fun 27 years, but it is time for the next step. Through the Ikon Pass, Alterra has created a partnership of the greatest resorts in the world. They know and understand The Basin and are enamored by its culture and vibe. I think they are the best team to help us through our next phase of growth and maturation.

Despite missing my friends at Dream, I think this is a good time for change. There will be hundreds, if not thousands, of questions to be answered. We will not know most of these answers until the closing occurs. It will take patience for all of us to get through the awkward and uncertain months between contract signing and closing. I want all of you to know that my commitment to running the best mountain in the business, focused on our unique guest experience and our passionate and dedicated employees, will be greater than ever."

Photos below from Cam Burns, POWDER Colorado. Shot last week at Arapahoe Basin Ski Area.

View the 3 images of this gallery on the original article

We will continue to cover the sale of Arapahoe Basin Ski Area here on POWDER. Stay tuned.

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