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Announcing Alterra Mountain Company: A Family of 12 Iconic Mountain Destinations in North America
Formed by Affiliates of KSL Capital Partners and Henry Crown and Company
DENVER, CO, January 11, 2018 - The joint venture of affiliates of KSL Capital Partners and Henry Crown and Company that curated 12 premier destinations in North America, now has a name. Announcing Alterra Mountain Company, a new destination group that is changing the landscape of the mountain resort industry.
Alterra Mountain Company, headquartered in Denver, Colorado is comprised of 12 destinations, including the world’s largest heli-skiing operation. Alterra Mountain Company was created when affiliates of KSL Capital Partners, owners of Squaw Valley Alpine Meadows, and Henry Crown and Company purchased Intrawest, Mammoth Resorts, and Deer Valley Resort in 2017.
“Alterra Mountain Company is made up of unique mountain destinations, each with a personality and spirit that has delighted visitors for generations. Our vision at Alterra Mountain Company is to protect and enhance what makes each destination special, inviting guests back to their favorite mountain, and enticing them to visit new destinations on their bucket list,” said David Perry, President and COO, Alterra Mountain Company. “We respect and continue to learn from the pioneers and leaders that built these iconic locations and paved the way before us, as we push the boundaries and innovate for our future.”
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. The destinations that make up Alterra Mountain Company are spread throughout five states and three Canadian provinces: Steamboat and Winter Park 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 in Utah; and CMH Heli-Skiing & Summer Adventures in British Columbia.
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.
About the Name and Logo
The name Alterra is a fusion of the words altitude and terrain/terra, paying homage to the mountains and communities that form the backbone of the company.
In the coming months Alterra Mountain Company will announce new season pass products that will provide access to all of our existing mountains, plus many additional benefits, sure to please skiers and riders.
About Alterra Mountain Company
Alterra Mountain Company is a community of 12 iconic year-round destinations, including the world’s largest heli-ski operation. 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, we are 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 in Utah; and CMH Heli-Skiing & Summer Adventures in British Columbia. We honor each destination’s unique character and authenticity and celebrate the legendary adventures and enduring memories they bring to everyone. For more information on Alterra Mountain Company, visit www.alterramtnco.com.
About KSL Capital Partners, LLC
KSL Capital Partners, LLC is a private equity firm specializing in travel and leisure enterprises in five primary sectors: hospitality, recreation, clubs, real estate, and travel services. KSL has offices in Denver, Colorado; Stamford, Connecticut; and London. Since 2005, KSL has raised approximately $8.2 billion of capital across both debt and equity funds. KSL's current portfolio includes some of the premier properties in travel and leisure. For more information, please visit www.kslcapital.com.
About Henry Crown and Company
Henry Crown and Company, through a newly formed affiliate, is a minority investor in the new joint venture Alterra Mountain Company. Henry Crown and Company dates back to the early 1900’s when Henry Crown and his brothers started Material Service Corporation, which was later merged into General Dynamics. Today, the Crown’s family assets fall into four broadly defined categories, including publicly traded securities, real estate, investment funds, and privately held operating companies, including Aspen Skiing Company, L.L.C. Aspen Skiing Company owns and operates the four mountains of Aspen Snowmass – Snowmass, Aspen Mountain, Aspen Highlands, and Buttermilk – as well as hospitality properties The Little Nell, Residences at The Little Nell, Limelight Aspen, and Limelight Ketchum in Ketchum, Idaho. In addition, Aspen Skiing Company owns and operates numerous retail and rental locations through the resort and the Roaring Fork Valley. Aspen Skiing Company, LLC is one of the Henry Crown and Company entities which owns Alterra Mountain Company. Aspen’s mountains and properties will continue to be run directly by Aspen Skiing Company and not by Alterra Mountain Company. For more information, visit www.aspensnowmass.com.
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Newly Formed Resort Company Completes Acquisition of Deer Valley Resort
New Company’s portfolio now includes 13 four-season mountain resorts
Denver, Colorado & Park City, Utah – The newly formed entity (the “Company”) controlled by affiliates of KSL Capital Partners, LLC and Henry Crown and Company today announced the completion of their previously announced acquisition of Deer Valley Resort. The Company, with Deer Valley Resort, also announced that Bob Wheaton will remain at Deer Valley Resort as president and chief operating officer.
Through this transaction, Deer Valley Resort is now part of an impressive portfolio of 13 resorts with more than seven million skier visits, 22,000 skier acres, and significant land available for real estate development. The Company also includes Canadian Mountain Holidays, the world’s leading heli-ski operator, and comprehensive aviation and real estate businesses. Its mountain resorts are geographically diversified across most of North America’s major ski regions: Squaw Valley|Alpine Meadows, Mammoth Mountain Ski Area, Snow Summit, Bear Mountain and June Mountain in California; Deer Valley Resort in Utah; Steamboat Ski & Resort and Winter Park Resort in Colorado; Blue Mountain Ski Resort in Ontario; Mont Tremblant Resort in Quebec; Stratton Mountain Resort in Vermont; and Snowshoe Mountain Resort in West Virginia.
“We could not be more pleased that Deer Valley Resort is now a part of our new Company,” said David Perry, president and chief operating officer of the Company. “We believe that this transaction not only adds tremendous value to our Company but also enhances the opportunities we are able to provide to our guests, our employees, and our communities. We are committed to maintaining the first-class experience and level of guest service for which the resort is known, and we look forward to what should be a fantastic 2017/18 ski season across our portfolio.”
“Joining this impressive portfolio of resorts is a big step forward in the future of Deer Valley Resort. It will enable the resort to build upon its time-honored traditions while further enhancing the overall experience,” said Bob Wheaton, Deer Valley Resort president and chief operating officer. “We are thrilled to be a part of the new Company and are excited to begin welcoming guests to Utah this winter.”
Season Passes
For the full 2017-18 winter season, Deer Valley Resort will continue to honor the existing pass products that are currently on sale.
About the New Company (expect a new brand launch prior to the upcoming ski season)
The Company, which joined Intrawest Resorts Holdings, Inc., Mammoth Resorts, Squaw Valley Ski Holdings, and, most recently, Deer Valley Resort, is a North American mountain resort and adventure company delivering distinctive vacation and travel experiences to its guests. The Company owns and/or operates 13 four-season mountain resorts with approximately 22,000 skiable acres and significant land available for real estate development. The mountain resorts are geographically diversified across most of North America’s major ski regions: Squaw Valley|Alpine Meadows, Mammoth Mountain Ski Area, Snow Summit, Bear Mountain and June Mountain in California; Deer Valley Resort in Utah; Steamboat Ski & Resort and Winter Park Resort in Colorado; Blue Mountain Ski Resort in Ontario; Mont Tremblant Resort in Quebec; Stratton Mountain Resort in Vermont; and Snowshoe Mountain Resort in West Virginia. The Company’s mountain resorts are geographically diversified across most of North America’s major ski regions, including California, the Eastern United States, the Rocky Mountains, and Canada. The Company also operates an adventure travel business, the cornerstone of which is Canadian Mountain Holidays, the world’s leading heli-skiing adventure company, and a comprehensive real estate business through which it manages condominium hotel properties and sells and markets residential real estate.
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The Hut Group Acquires Prestigious Spa and Skincare Brand ESPA
The Hut Group (“THG”, or the “Group”), one of the world’s largest online Health & Beauty retailers and brand owners, announces the acquisition of ESPA, a world-renowned leader in spas and skincare excellence, from affiliates of KSL Capital Partners, LLC (“KSL”).
Established in 1993, ESPA is the choice of the world’s leading spas and skincare experts. ESPA products and treatments are sold in over 700 spas across 50 countries in the finest hotels including ESPA Life at The Corinthia London, top destinations of Ritz Carlton, Peninsula, One&Only and the ESPA Life at Gleneagles.
Each spa offers a unique reflection of its environment, ultimately providing a collection of bespoke, opulent destination spas that offer wellbeing experiences for skin, body and mind. Last year, ESPA- trained beauty therapists performed over 5 million treatments globally.
ESPA products are also sold in luxury retail outlets such as John Lewis, Liberty London and Harvey Nichols, and direct to consumers on espaskincare.com.
Working with the best skincare experts, using only the highest quality, purest natural ingredients at their optimal levels, ESPA create unique Tri-Active™ blends of plant actives, marine actives and essential oils to develop the most effective, natural products and treatments. All new product development and manufacturing is done at ESPA’s own facility in the UK.
The investment represents another strategic move for THG as it continues to expand its Beauty offering and international reach. THG is already Europe’s largest retailer of premium beauty including MAC, Bobbi Brown, Nars and Lancôme products through Lookfantastic.com, and also owns a host of luxury Beauty brands including Mio Skincare, Mama Mio, Grow Gorgeous and GLOSSYBOX, and now ESPA. In addition to its presence across the Beauty industry, THG also owns numerous brands across the Health sector, including the world’s largest online Health brand, Myprotein.
Matthew Moulding, Founder and Chief Executive Officer of The Hut Group, said: “ESPA is an exciting addition to The Hut Group’s growing portfolio of beauty brands. Synonymous with luxury, its products are sold in the most prestigious spas and retailers around the globe. We intend to substantially invest further in the ESPA brand, especially in manufacturing capabilities, and to develop the brand into a true global leader in its area. Our investment in acquiring the ESPA brand further supports our ambition of becoming the world’s largest online retailer of Health & Beauty products by the end of the year.”
Susan Harmsworth, Founder of ESPA, said: “I am delighted about this acquisition which paves the way to an exciting next chapter in our journey. I am truly confident that The Hut Group has the passion and expertise to extend ESPA’s holistic philosophy which has been at the heart of our products, spas and treatments for twenty-five years. With spas in over 50 countries, this partnership enables us to reach even more customers all over the world.”
The Hut Group was advised by CMS (Katie Nagyedenagybaczon), KPMG (John Moth) and Deloitte (David OLeary). KSL was advised by Baylor Klein (Tim Leach), Simpson Thacher & Bartlett (Derek Baird) and Deloitte (Gurm Dhillon).
For more information, please contact:
Viki Tahmasebi
viki.tahmasebi@thehutgroup.com
Group Head of PR, The Hut Group
[07966 028340]
Julie Messing-Paea
julie.messing@mac.com
KSL Media Contact
+1 310-691-9979
Notes to editors About The Hut Group
The Hut Group (THG) is a nimble giant with a start-up culture, led by founder Matthew Moulding. Built on a foundation of proprietary industry-leading technology, a world-class team and a scientific approach to building global brands. THG is fast becoming the world’s most influential online retail organisation.
In the year to 31 December 2016, THG grew Group Sales by 50% (to £501m), with International Sales growing by 89% (to £316m). EBITDA grew 67% to £50m. Over half of THG’s sales now come from own brand products.
Part of the Northern Powerhouse near Manchester, it operates over 140 highly profitable websites retailing premium, non- perishable FMCG products direct to consumers across the fast growing, global Health & Beauty markets.
Pioneering Technology Platform
THG is a major British technology success story. Its in-house team design, develop and build bespoke proprietary technology that is used by hundreds of millions of people worldwide across 190 + countries.
Its unique platform helps the Group dispatch 37 million items to customers across the world, taking THG to the top of the Sunday Times profit track for a second consecutive year.
The platform was recognised as E-tailer of the Year by Retail Week for “Becoming Europe’s fastest growing E-tailer, through leveraging proprietary technology, data and a disruptive model to deliver own brand products direct to global consumers.
Talent
The Hut Group is the #1 place for ambitious young talent that want to run a business or build industry leading technology.
About ESPA
With over 25 years’ experience building award-winning spas around the world and with a pioneering collection of natural spa products and treatments, ESPA is the chosen brand of the world’s leading spa and skincare experts, with over 700 spas in over 60 countries. Working with expert formulators, biochemists and aromatherapists, they combine the wisdom from traditional holistic therapies with the scientific power of the purest natural ingredients. This combination blends plant and marine actives with essential oils to create unique Tri-Active™ formulations delivering innovative products and treatments for the very best results. ESPA are guided by a holistic philosophy, to help you look and feel your best, for you to have naturally beautiful skin and a renewed sense of inner calm.
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Deer Valley Resort to be Acquired by Newly Formed Resort Company and Joined with Intrawest, Mammoth Resorts, and Squaw Valley Ski Holdings
New Company’s portfolio increases from 12 four-season mountain resorts to 13 with the addition of iconic Utah resort
Denver, Colorado, and Park City, Utah [August 21, 2017] – The newly formed entity controlled by affiliates of KSL Capital Partners, LLC and Henry Crown and Company that in July joined Intrawest Resorts Holdings, Inc., Mammoth Resorts and Squaw Valley Ski Holdings today announced, with Deer Valley Resort, that they have entered into a definitive agreement for the newly formed entity to acquire Deer Valley Resort. Financial terms of the transaction were not disclosed. The transaction is subject to certain closing conditions and is anticipated to close prior to the upcoming 2017/2018 ski season.
“Deer Valley Resort is one of the preeminent mountain resorts in the world and is a tremendous addition to our existing portfolio. Prior to this acquisition, we were able to offer our guests exceptional experiences throughout most of North America’s major ski regions, but we did not have a resort in Utah, a state that is renowned for great skiing and mountain town life. Park City and Salt Lake skiers have always known that powder, blue skies, a huge variety of terrain, and exemplary guest service set Deer Valley Resort apart,” said David Perry, President and Chief Operating Officer of the new joint venture. “We could not be more pleased that Deer Valley Resort will be part of our new company, and we look forward to working with the staff and Park City community to carry on the traditions that make it so special,” added Mr. Perry. “We are thrilled to join this impressive portfolio with 12 other resorts and are excited about the opportunities this transaction will create for our guests, staff, and the community of Park City. Deer Valley is a special place and being part of its growth has been one of the great joys of my life,” said Bob Wheaton, president and general manager. “Joining this portfolio of resorts will enable Deer Valley to build upon its outstanding traditions and further enhance our ability to provide our guests with a world class skiing experience. I look forward to working with them as we develop our vision for the future of the resort and the new company.”
Season Passes
For the full 2017-18 winter season, Deer Valley will continue to honor the existing pass products that are currently on sale.
About Deer Valley
Deer Valley Resort revolutionized the ski industry by providing the first-class service one would receive at a five-star hotel. The resort offers 21 chairlifts, 101 ski runs, six bowls, 12 restaurants, 300 annual inches of powder, three elegant day lodges, 2,026 acres of alpine skiing, hundreds of luxury accommodations and a renowned Ski School and Children’s Center.
About Intrawest Resorts, Inc., Mammoth Resorts, Squaw Valley Ski Holdings and the New Joint Venture (expect a new brand launch prior to the upcoming ski season)
The new joint venture is a North American mountain resort and adventure company, delivering distinctive vacation and travel experiences to its customers. Together, Intrawest, Mammoth Resorts and Squaw Valley Ski Holdings own and/or operate 12 four-season mountain resorts with approximately 20,000 skiable acres and significant land available for real estate development. The mountain resorts are geographically diversified across most of North America’s major ski regions: Squaw Valley, Alpine Meadows, Mammoth Mountain Ski Area, Snow Summit, Bear Mountain and June Mountain in California; Steamboat Ski & Resort and Winter Park Resort in Colorado; Blue Mountain Ski Resort in Ontario; Mont Tremblant Resort in Quebec; Stratton Mountain Resort in Vermont; and Snowshoe Mountain Resort in West Virginia. The company’s mountain resorts are geographically diversified across most of North America’s major ski regions, including California, the Eastern United States, the Rocky Mountains, and Canada. The company also operates an adventure travel business, the cornerstone of which is Canadian Mountain Holidays, the world’s leading heli-skiing adventure company. Additionally, the company operates a comprehensive real estate business through which it manages condominium hotel properties and sells and markets residential real estate.
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Affiliates of KSL Capital Partners and Henry Crown and Company Complete Transactions to Combine Three Major Resort Companies
Bryan Traficanti named Interim Chief Executive Officer
David Perry named President and Chief Operating Officer
Denver, Colorado, July 31, 2017 –The new joint venture formed by affiliates of KSL Capital Partners, LLC (“KSL”) and Henry Crown and Company (“HCC”) today announced the completion of their previously announced acquisition of Intrawest Resorts Holdings, Inc. (NYSE: SNOW) (“Intrawest”) and Mammoth Resorts.
Through these transactions, Squaw Valley Ski Holdings (“SVSH”), previously owned by affiliates of KSL, Intrawest and Mammoth Resorts are now combined as one company. This new entity boasts 12 four-season mountain resorts with approximately six million skier visits, 20,000 skiable acres and significant land available for real estate development, as well as Canadian Mountain Holidays, the world’s leading heli-ski operator, plus comprehensive aviation and real estate businesses. Its mountain resorts are geographically diversified across most of North America’s major ski regions: Squaw Valley, Alpine Meadows, Mammoth Mountain Ski Area, Snow Summit, Bear Mountain and June Mountain in California; Steamboat Ski & Resort and Winter Park Resort in Colorado; Blue Mountain Ski Resort in Ontario; Mont Tremblant Resort in Quebec; Stratton Mountain Resort in Vermont; and Snowshoe Mountain Resort in West Virginia.
The companies also announced leadership changes effective upon the close of the transaction. KSL’s Bryan Traficanti became interim Chief Executive Officer, while a comprehensive search for a new chief executive officer is completed. Executive search firm Spencer Stuart has been retained to assist with the selection of a new Chief Executive Officer. Effective as of closing, Thomas Marano, Intrawest’s Chief Executive Officer, resigned his position; Rusty Gregory, Mammoth Resort’s Chairman and Chief Executive Officer, is an investor in the new company and will serve on the Board, and become Senior Strategic Advisor to the new company; and Andy Wirth, President and Chief Executive Officer of SVSH, will become President and Chief Operating Officer of SVSH.
“This transaction marks a significant milestone for our company, our guests, and our communities, and we are excited about the opportunities that lie ahead as a result of combining Intrawest, Squaw Valley Ski Holdings, and Mammoth Resorts,” said Mr. Traficanti. “We believe that each resort brings something different to the company, and our goal is to preserve the unique character and culture of each while also building something greater. Supported by affiliates of KSL and HCC, this new organization is well positioned not only for continued growth, but also to bring more value to our guests, more opportunities for our employees, and more investment into our local communities.”
Additionally, David Perry, previously Vice President and Chief Operating Officer of Aspen Skiing Company, L.L.C, also an affiliate of HCC, was named the newly integrated company's President and Chief Operating Officer. Mr. Perry has spent more than four decades in the ski industry, including previous roles with Intrawest, Whistler/Blackcomb, and Canadian Mountain Holidays prior to being Chief Executive Officer of Colorado Ski Country USA and then Vice President and Chief Operating Officer at Aspen Skiing Company. Intrawest’s Sky Foulkes, previously holding the joint position of President of Winter Park Resort and Chief Operating Officer of Intrawest, transitioned to focusing full
time on Winter Park Resort as its President and Chief Operating Officer.
Additional Leadership Announcements
The company is pleased to announce the following slate of resort leaders:
- Andy Wirth, President and Chief Operating Officer, Squaw Valley Ski Holdings
- Mark Brownlie, President and Chief Operating Officer, Mammoth Resorts (newly appointed)
- Wade Reeser, General Manager, Big Bear Resort (reporting to Mark Brownlie)
- Rob Perlman, President and Chief Operating Officer, Steamboat Ski & Resort
- Sky Foulkes, President and Chief Operating Officer, Winter Park Resort
- Patrice Malo, President and Chief Operating Officer, Mont Tremblant Resort
- Dan Skelton, President and Chief Operating Officer, Blue Mountain Ski Resort
- Bill Nupp, President and Chief Operating Officer, Stratton Mountain Resort
- Frank DeBerry, President and Chief Operating Officer, Snowshoe Mountain Resort
- Jeremy Levitt, President and Chief Operating Officer, Canadian Mountain Holidays
- Jeff Denomme, President, Alpine Aerotech
Season Passes
For the full 2017-18 winter season, the new company will continue to honor the existing pass products that are currently on sale, including the Rocky Mountain Super Pass +, the M.A.X. Pass, and the Mountain Collective. The new company expects to launch a new name and brand prior to the 2017/2018 ski season.
About the Transactions
Under the terms of the previously announced Intrawest merger agreement, Intrawest stockholders will receive $23.75 in cash for each share of Intrawest common stock, representing a total valuation of approximately $1.5 billion. As a result of the closing of this acquisition, Intrawest will cease trading on the New York Stock Exchange. Under a separate previously announced purchase agreement, Mammoth Resorts is also being purchased by the new KSL and HCC joint venture effective today. Additionally, SVSH is being rolled into the new venture. The terms of both Mammoth Resorts and SVSH transactions have not been disclosed.
About Squaw Valley Ski Holdings
Squaw Valley Ski Holdings (“SVSH”), an affiliate of KSL, is the parent company of Squaw Valley and Alpine Meadows. Squaw Valley and Alpine Meadows are internationally renowned mountain resorts in North Lake Tahoe that spans over 6,000 skiable acres and receive an annual average of 450 inches of snowfall and 300 sunny days. The resorts feature slopeside lodging at The Village at Squaw Valley®, which bustles year round with nonstop events and over 50 bars, restaurants and boutiques. For more information visit www.squawalpine.com.
About Mammoth Resorts
Mammoth Resorts, the leading four-season mountain resort operator in California, is now part of the new organization. At closing, Mammoth Resorts owns and operates a variety of recreation, hospitality, real estate development, food and beverage and retail enterprises. This includes Mammoth Mountain Ski Area, Snow Summit, Bear Mountain, and June Mountain. Mammoth Resorts is also the owner-operator of Tamarack Lodge and Resort, Mammoth Mountain Inn, Juniper Springs Resort, the Village Lodge, Mammoth Mountain Bike Park, Snow Summit Bike Park, Mammoth Snowmobile Adventures, Sierra Star Golf Course, and Bear Mountain Golf Course. For more information visit www.mammothresorts.com.
About Intrawest Resorts Holdings, Inc.
Intrawest is a North American mountain resort and adventure company, delivering distinctive vacation and travel experiences to its customers for over three decades. At closing, Intrawest owns and/or operates 6 four-season mountain resorts – Steamboat Ski & Resort, Winter Park Resort, Mont Tremblant Resort, Blue Mountain Ski Resort, Stratton Mountain Resort, and Snowshoe Mountain Resort - with approximately 8,000 skiable acres and over 1,100 acres of land available for real estate development.
Intrawest’s mountain resorts are geographically diversified across most of North America’s major ski regions, including the Eastern United States, the Rocky Mountains, and Canada. The Company also operates an adventure travel business, the cornerstone of which is Canadian Mountain Holidays, a leading heli-skiing adventure company in North America. Additionally, the Company operates a comprehensive real estate business through which it manages condominium hotel properties and sells and markets residential real estate. Prior to closing, Intrawest Resorts Holdings, Inc. common stock was traded on the New York Stock Exchange (NYSE: SNOW). For more information, visit www.intrawest.com.
About KSL Capital Partners, LLC
KSL Capital Partners, LLC is a private equity firm specializing in travel and leisure enterprises in five primary sectors: hospitality, recreation, clubs, real estate, and travel services. KSL has offices in Denver, Colorado; Stamford, Connecticut; and London. Since 2005, KSL has raised approximately $7.5 billion in equity capital commitments. KSL's current portfolio includes some of the premier properties in travel and leisure. For more information, please visit www.kslcapital.com.
About Henry Crown and Company
Henry Crown and Company, through a newly formed affiliate, is a minority investor in the new joint venture. Henry Crown and Company dates back to the early 1900’s when Henry Crown and his brothers started Material Service Corporation, which was later merged into General Dynamics. Today, the Crown’s family assets fall into four broadly defined categories, including publicly traded securities, real estate, investment funds, and privately held operating companies, including Aspen Skiing Company,
L.L.C. Aspen Skiing Company owns and operates the four mountains of Aspen Snowmass – Snowmass, Aspen Mountain, Aspen Highlands, and Buttermilk – as well hospitality properties The Little Nell, Residences at The Little Nell, Limelight Aspen, and Limelight Ketchum in Ketchum, Idaho. In addition, Aspen Skiing Company owns and operates numerous retail and rental locations through the resort and the Roaring Fork Valley. For more information, visit www.aspensnowmass.com. Aspen Skiing Company’s resorts and hospitality properties will remain separate from the new .