If you missed the announcement Aspen Ski Corporation just bought the mountains at Steamboat Springs and Winter Park. This is a game changer in the Colorado Ski industry as Aspen bulks up to better compete against Vail resorts. What does this mean for real estate in these two markets? What should you do today?
Both Steamboat and Winterpark are substantially undervalued in my opinion vs. other markets. If you were looking on acquiring anything in these markets, do it now before values process the news. If you own properties in these markets, sit tight. This is just the beginning.
Values will increase in both markets. This fresh infusion of a long term operator flush with cash will invest heavily in both mountains. The marketing combining all of Aspen’s properties should also attract new visitors/ increase visitation to each mountain. Although it will take a while to see how the infrastructure improvements at each mountain play out, I think there is no doubt that values in both markets will increase substantially over time. Below are a few articles on this topic:
- Steamboat Today: http://www.steamboattoday.com/news/2017/apr/10/steamboat-ski-resort-acquired-aspen-skiing-co-ksl-/
- Aspen Times: http://www.aspentimes.com/news/sports/breaking-steamboat-ski-resort-acquired-by-aspen-skiing-co-ksl-capital-partners/
- The Denver Post: http://www.denverpost.com/2017/04/10/steamboat-winter-park-ski-resorts-acquired/