SAM Magazine—Broomfield, Colo., April 9, 2019—Vail Resorts, Inc. has closed on its acquisition of the ski field leases and related infrastructure at Falls Creek Alpine Resort and Hotham Alpine Resort in Victoria, Australia. The closing price was approximately AU$179 million (approximately US$127 million) after adjustments for certain agreed-upon terms.
Falls Creek and Hotham join with Perisher to form a network of Australian resorts within the VR world and expand the value of the Epic Australia Pass. Subject to government approvals related to Hotham's lease, the Epic Australia Pass will include all three Australian areas and connect Aussies with VR's North American resorts, as well as Hakuba Valley and Rusutsu in Japan, though with holiday and some frequency limits across the VR resorts and Japanese partners.
The Epic Australia Pass costs AU$859 for adults, AU$483 for students (up to year 12), and AU$644 for seniors (65 years and over). Those prices translate to $609, $343, and $457, respectively, in U.S. currency at current exchange rates.