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Aspen and Denver, Colorado, April 10, 2017 – Intrawest Resorts Holdings, Inc. (NYSE: SNOW), a leading North American mountain resort and adventure company, today announced that it has entered into a definitive agreement to be acquired by a newly-formed entity controlled by affiliates of the Aspen Skiing Company, L.L.C. (“Aspen”) and KSL Capital Partners, LLC (“KSL”). Under the terms of the 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 including debt obligations to be assumed or refinanced net of cash at closing. The transaction was unanimously approved by the board of directors of Intrawest.  Following the execution of the merger agreement, stockholders representing a majority of the voting shares of Intrawest delivered a written consent approving and adopting the merger agreement.  The transaction is expected to close by the end of the third quarter of calendar year 2017 and is subject to certain closing conditions including regulatory approvals.

“This transaction creates significant opportunity for Intrawest and delivers tremendous value to our current shareholders,” said Thomas Marano, Intrawest’s chief executive officer.  “The cash consideration of $23.75 per share represents a 40% premium over $16.97 per share, Intrawest’s closing stock price on January 12, 2017, the trading day prior to Reuters’ report speculating that the Company was exploring a potential sale.  We are excited to work with Aspen and KSL.  Our new partners bring additional financial resources and a shared passion for the mountains and our mountain communities.  Both Aspen and KSL are committed to helping Intrawest accelerate our plans to bring more value to our guests, more opportunities for our employees and more investment into our local communities.”

“Intrawest is a collection of remarkable properties in exceptional locations.  Each has its own unique story and its own unique sense of place,” said Eric Resnick, chief executive officer of KSL.  “We are committed to honoring the deep traditions of each resort, while working with Intrawest’s talented management team and employees to continue to serve both their guests and local communities.”

“The enthusiasm that Intrawest’s employees exhibit for the guest experience and for being responsible members of their communities is apparent in all they do.  We are excited to be part of the investment group that is going to work hard to help realize the collective potential of Intrawest’s portfolio of resorts,” said Mike Kaplan, chief executive officer of Aspen.

Season Passes

For the full 2017-18 winter season, each Intrawest resort will continue to honor the resort’s existing pass products that are currently on sale, including the Rocky Mountain Super Pass + and the M.A.X. Pass.

Squaw Valley Ski Holdings

While not a condition to the merger, Squaw Valley Ski Holdings, the parent company of Squaw Valley /Alpine Meadows resort and an affiliate of KSL, will also become part of the entity at closing, but continue to operate under its current management.

Additional Transaction Details

Further information regarding the transaction will be included in an information statement to be mailed to Intrawest shareholders.

Deutsche Bank Securities Inc., Moelis & Company LLC and Houlihan Lokey are serving as financial advisors to Intrawest.  Goldman, Sachs & Co. is serving as financial advisor to Aspen and KSL and is acting as financial advisor to the new entity.

Hogan Lovells US LLP, Latham and Watkins LLP and Simpson Thacher Bartlett LLP are serving as legal counsel to Aspen and KSL. Skadden, Arps, Slate, Meagher & Flom LLP and Blake, Cassels & Graydon LLP are serving as legal counsel to Intrawest.

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. The Company wholly owns and/or operates six four-season mountain resorts 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. Intrawest Resorts Holdings, Inc. common stock is traded on the New York Stock Exchange (NYSE: SNOW). For more information, visit www.intrawest.com.

About Aspen Skiing Company

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.

About KSL Capital Partners

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.

Forward-Looking Statements

This press release includes “forward - looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate”, “believe”, “intend”, “expect”, “estimate”, “plan”, “outlook” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements are based on current expectations and assumptions that are subject to risks and uncertainties.  Actual results could differ materially from those anticipated as a result of various factors, including: (1) conditions to the closing of the proposed transaction, including the obtaining of required regulatory approvals, may not be satisfied; (2) the proposed transaction may involve unexpected costs, liabilities or delays; (3) the business of Intrawest may suffer as a result of uncertainty surrounding the proposed transaction; (4) the outcome of any legal proceedings related to the proposed transaction; (5) Intrawest may be adversely affected by other economic, business, and/or competitive factors; (6) the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement; (7) the ability to recognize benefits of the proposed transaction; (8) risks that the proposed transaction disrupts current plans and operations and the potential difficulties in employee retention as a result of the proposed transaction; (9) other risks to consummation of the proposed transaction, including the risk that the proposed transaction will not be consummated within the expected time period or at all; and (10) the risks described from time to time in Intrawest’s reports filed with the SEC under the heading “Risk Factors,” including, without limitation, the risks described under the caption “Risk Factors” in Part I - Item 1A., “Risk Factors” in Intrawest’s Annual Report on Form 10-K for the year ended June 30, 2016, filed with the Securities and Exchange Commission (“SEC”) on September 8, 2016, as amended, and as may be revised in Intrawest’s future SEC filings. In light of these risks, uncertainties and assumptions, the future events and trends discussed in this release may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. None of Intrawest, the Crown Family or KSL Capital Partners undertakes any obligation to revise or publicly release the results of any revision to these forward-looking statements, except as required by law. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements.

Additional Information and Where to Find it

In connection with the proposed transaction, Intrawest intends to file relevant materials with the SEC, including Intrawest’s information statement in preliminary and definitive form. Stockholders of Intrawest are strongly advised to read all relevant documents filed with the SEC, including Intrawest’s information statement, because they will contain important information about the proposed transaction. These documents will be available at no charge on the SEC’s website at www.sec.gov. In addition, documents will also be available for free on Intrawest’s website at ir.intrawest.com.

Link to Release

CHICAGO--(BUSINESS WIRE)-- Hyatt Hotels Corporation (NYSE: H) today announced that Hyatt has acquired Miraval Group, the renowned provider of wellness and mindfulness experiences, from an affiliate of KSL Capital Partners, LLC.

For over 20 years, Miraval’s flagship property in Tucson, Ariz. has been considered one of the nation’s leading wellness resorts, offering a comprehensive program of imaginative, authentic and meaningful activities, experiences and personal treatments designed to help guests live life in balance. Along with acquiring the flagship Miraval Arizona Resort & Spa, Hyatt will continue Miraval’s plans to redevelop the recently acquired 220-acre Travaasa Resort in Austin, Texas and pursue the acquisition and redevelopment of the 380-acre Cranwell Spa & Golf Resort in Lenox, Mass. The transaction also includes the acquisition of the Miraval Life in Balance Spa brand, which opened its first location in Dana Point, Calif. last year.

“The Miraval acquisition reflects our commitment to super serving the high-end traveler and finding new ways to understand and care for them,” said Mark Hoplamazian, president and chief executive officer, Hyatt Hotels Corporation. “We know that wellness is an area that is becoming increasingly important to our guests and we share Miraval’s belief that wellness is more than fitness and nutrition – it’s a lifestyle. Adding Miraval to the Hyatt family creates a great opportunity to advance the Miraval brand expansion while building a greater depth of expertise in wellness and mindfulness.”

The acquisition includes an initial investment of $215 million for the Miraval brand and the resorts in Tucson and Austin. Hyatt expects to invest an additional $160 million over the next two to three years to fund the expansion of the Tucson resort, the redevelopment of the Austin resort and the acquisition and redevelopment of the Lenox resort. Hyatt will fund the investment with current operating cash flows and proceeds from the sale of existing assets, consistent with Hyatt’s asset recycling program. The company expects these investments to be marginally accretive to Adjusted EBITDA in 2017 and 2018, achieving a cash-on-cash yield in the high single digits within four to five years.

Miraval will form a distinct new wellness category within the Hyatt portfolio of brands. Steven Rudnitsky, president and chief executive officer of Miraval Group, will continue to drive the brand’s growth strategy, reporting to Mark Hoplamazian and working with the existing Miraval leadership team and associates.

“Importantly, the acquisition also extends the Hyatt brand into adjacent spaces beyond traditional hotel stays, which is core to Hyatt’s global growth strategy,” said Hoplamazian. “We recognize the business opportunity within the $420 billion wellness-tourism category and understand the rising demand for wellness offerings among our targeted high-end travelers.”

Today’s announcement continues Hyatt’s commitment to a holistic health and wellness strategy as an extension of its purpose, to care for people so they can be their best. For example, since 2014, Hyatt chefs around the globe have been championing Food. Thoughtfully Sourced, Carefully Served, a program featuring menus evolved with an eye on sustainable health. This includes options such as grass-fed meats, sustainable seafood and organic fruits and vegetables. Additionally, many Hyatt hotels worldwide are offering more options for travelers to maintain a healthier routine, including healthy refreshments at arrival, curated in-room amenities, increased fitness offerings, expanded menus and nutritious to-go alternatives.

“Our shared purpose makes Hyatt the ideal acquisition partner,” said Rudnitsky. “This transaction will unlock Miraval’s full potential by joining us with one of the foremost global hospitality companies fully committed to wellness. Consistent with Hyatt’s strategy, Miraval offers destinations for guests who take an active role in seeking inspiration and self-improvement for a life in balance.”

The term “Hyatt” is used in this release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates. Hyatt is working to include the referenced properties in its loyalty program, but the properties are not currently participating.

About Hyatt Hotels Corporation‍

Hyatt Hotels Corporation (NYSE: H), headquartered in Chicago, is a leading global hospitality company with a portfolio of 12 premier brands and 679 properties in 54 countries, as of September 30, 2016. The Company's purpose to care for people so they can be their best informs its business decisions and growth strategy and is intended to create value for shareholders, build relationships with guests and attract the best colleagues in the industry. The Company's subsidiaries develop, own, operate, manage, franchise, license or provide services to hotels, resorts, branded residences and vacation ownership properties, including under the Park Hyatt®, Grand Hyatt®, Hyatt Regency®, Hyatt®, Andaz®, Hyatt Centric®, The Unbound Collection by Hyatt™, Hyatt Place®, Hyatt House®, Hyatt Ziva™, Hyatt Zilara™ and Hyatt Residence Club® brand names and have locations on six continents. For more information, please visit www.hyatt.com.

About Miraval Group‍

New York-based Miraval Group is a global leader in wellness resorts and spas. Miraval Arizona Resort & Spa in Tucson pioneered the destination wellness spa resort category with its comprehensive program of activities, experiences and personal treatments. In April 2016, Miraval opened the Life in Balance Spa at Monarch Beach Resort in Dana Point, CA.

The company is developing Miraval Life in Balance Spas and Miraval destination wellness resorts concurrently in key national markets and has recently announced plans for new resort developments in Lenox, MA and Austin, TX.

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, CO; Stamford, CT; and London. Since 2005, KSL has raised approximately $7.4 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.

Forward-Looking Statements‍

Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include statements about Hyatt’s acquisition of Miraval Group, growth strategy, and introduction of new brand concepts and involve known and unknown risks that are difficult to predict. In some cases, you can identify forward-looking statements by the use of words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “will,” “would” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable when made, are inherently uncertain, and are subject to numerous assumptions and uncertainties, many of which are outside of Hyatt’s, Miraval Group’s or KSL Capital’s control, which could cause actual results, performance or achievements to differ materially from those expressed in or implied by such statements. Forward-looking statements made in this press release are made only as of the date of their initial publication and no party undertakes any obligation to publicly update any of these forward looking statements as actual events unfold, except to the extent required by applicable law. If one or more forward-looking statements is updated, no inference should be drawn that any additional updates will be made with respect to those or other forward-looking statements.

Source: Hyatt Hotels Corporation Hyatt
Stephanie Sheppard 312.780.5399
Stephanie.Sheppard@hyatt.com
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or
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Nike Communications Kimberly Hanson 978.821.4886

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PHILADELPHIA--(BUSINESS WIRE)--Apple Leisure Group, a leading hospitality company, today announced that KKR and an affiliate of KSL Capital Partners (KSL) have entered into a definitive agreement to acquire the company from Bain Capital Private Equity. Financial terms of the transaction were not disclosed.

Apple Leisure Group is North America’s top seller of all-inclusive vacation packages, with a vertically integrated business model that leverages its capabilities and expertise to deliver exceptional value to travelers, and distribution reach and resort management expertise for hotel owners. Apple Leisure Group’s collection of leading subsidiaries includes AMResorts (hotel management and marketing services), Amstar (the largest destination management company for Mexico and the Dominican Republic), a portfolio of travel distribution brands (Apple Vacations®, Travel Impressions®, CheapCaribbean.com®), and the exclusive Unlimited Vacation Club travel program.

“We are pleased to be partnering with KKR and KSL for our next phase of growth,” said Alex Zozaya, Chief Executive Officer of Apple Leisure Group. “They share our commitment to the vision of Apple Leisure Group as we continue to deliver great results to travelers, guests and hotel owners. We are extremely appreciative of Bain Capital Private Equity’s partnership and support in executing our growth mission and helping us strengthen our leadership position over the past four years.”

“Apple Leisure Group is a unique franchise with a differentiated market position as well as an impressive management team,” said KKR Members Paul Raether and Tagar Olson. “We are pleased to be partnering with KSL to continue to grow the company and build upon its already premier reputation in the travel industry.”

“Apple Leisure Group has emerged as a truly differentiated market leader, with a strong management team executing a strategic growth plan while continuing to deliver exceptional service and real value to leisure travelers,” said Phil Loughlin a Managing Director at Bain Capital Private Equity. “It has been a privilege to work side-by-side with this talented team as we have invested to build the business for the long-term by creating more effective collaboration among the various companies in the group and integrating several acquisitions which added value to the company’s product offerings,” added Ryan Cotton a Managing Director at Bain Capital Private Equity.

”Nearly 25 years ago, KSL first partnered with KKR to acquire premier hospitality businesses, and we are delighted to once again partner with them to invest in Apple Leisure Group,” said Richard Weissmann, a Partner of KSL. “We have spent several years searching for the right opportunity in the Caribbean, and could not be more pleased to partner with Apple Leisure Group and its talented management team and employees. With a devoted customer base and thousands of loyal members, we believe Apple Leisure Group has tremendous potential for future growth.”

The transaction is expected to close during the first quarter of 2017, and is subject to customary regulatory approvals. KKR’s investment is being made principally from its eleventh Americas Private Equity investment fund.

Credit Suisse and Kirkland & Ellis LLP served as advisors to Bain Capital Private Equity. Simpson Thacher & Bartlett LLP and Dentons served as advisors to KKR and KSL.

About Apple Leisure Group‍

Philadelphia-based Apple Leisure Group® is a leading hospitality company in the North American travel industry. Its vertically integrated business model and robust infrastructure leverages the expertise of six innovative subsidiaries to deliver exceptional value to savvy travelers and strong resort performance to owners. ALG’s award-winning subsidiaries include: AMResorts®, provider of hotel management services under six luxury resort brands; Apple Vacations®, the world’s largest tour operator to Mexico and the Dominican Republic; Travel Impressions®, a prominent U.S. wholesaler possessing an extensive global portfolio; CheapCaribbean.com®, a popular online travel agency specializing in luxury vacation packages and resort accommodations in Mexico and the Caribbean; Amstar DMC, a destination management company offering premium airport transfers, tours and excursions; and Unlimited Vacation Club®, AMResorts’ popular guest loyalty program for discerning travelers who expect the very best in a vacation experience. For more information on Apple Leisure Group®, visit www.appleleisuregroup.com.

About KKR

KKR is a leading global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation at the asset level. KKR invests its own capital alongside its partners' capital and brings opportunities to others through its capital markets business. References to KKR's investments may include the activities of its sponsored funds. For additional information about KKR & Co. L.P. (NYSE:KKR), please visit KKR's website at www.kkr.com and on Twitter @KKR_Co..

About KSL

KSL 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, CO; Stamford, CT; and London. Since 2005, KSL has raised approximately $7.4 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 Bain Capital Private Equity‍

Bain Capital Private Equity (www.baincapitalprivateequity.com) has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive since our founding in 1984. Our team of more than 220 investment professionals creates value for our portfolio companies through our global platform and depth of expertise in key vertical industries including consumer/retail, financial and business services, healthcare, industrials, and technology, media and telecommunications. In addition to private equity, Bain Capital invests across asset classes including credit, public equity and venture capital, and leverages the firm’s shared platform to capture opportunities in strategic areas of focus.

Contacts

Media :
For Apple Leisure Group:
Stanton Charlyn Lusk, 646-502-3549
clusk@stantonprm.com
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or
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For KKR:
Kristi Huller or Cara Kleiman, 212-230-9722
media@kkr.com
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or
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For KSL Capital Partners:
Julie Messing-Paea, 310-691-9979
julie.messing@mac.com
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or
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For Bain Capital Private Equity:
Stanton Alex Stanton, 212-780-0701
astanton@stantonprm.com

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WAIKIKI, HONOLULU, HAWAII – Outrigger Hotels and Resorts (Outrigger) and KSL Capital Partners, LLC (KSL) announced today that affiliates of the companies have signed a purchase and sale agreement for an affiliate of KSL to acquire Outrigger. The transaction includes all 37 of Outrigger’s multi-branded portfolio of hotels, condominiums and vacation resort properties. The transaction is subject to shareholder approval and customary closing conditions.

“As one of the world’s leading investors in hospitality, KSL has the capital capacity to elevate Outrigger to the next level – infusing additional resources into our current assets and helping to accelerate our long-term growth goals,” said W. David P. Carey, president and CEO of Outrigger Enterprises Group. “Without question, this is an exciting time for Outrigger; our brand has never been stronger and it is with enthusiasm that we look forward to the advantages that this transaction will create for our valued hosts, guests and communities we serve.”

“Since my grandparents – Roy and Estelle Kelley – founded Outrigger in 1947, our family-run hospitality business has created world-class vacations for millions of travelers and life-changing employment opportunities for our hosts,” said Dr. Charles Kelley, board chairman of Outrigger Enterprises Group. “Our family is humbled to have had the privilege of leading this company for nearly 70 years and to have worked with some of the best in the industry. We have a responsibility to make strategic decisions today that put our company on the best path for future success; we are confident that KSL will make Outrigger more resilient in today’s global hospitality market.”

“Outrigger is a well-established, highly successful company that has built a unique portfolio of world-class hotels,” said Marty Newburger, partner at KSL. “For nearly seven decades, the Outrigger team has been focused on providing authentic, localized experiences for guests in iconic resort destinations. We are excited to continue the strong tradition that the Kelley family has built. Outrigger’s and KSL’s values are aligned with creating lasting and memorable experiences for our resort guests at properties that are integral to the communities in which they operate. Outrigger owns and operates resorts in truly remarkable destinations and KSL is excited be a part of the next chapter of Outrigger’s extraordinary story.”

Upon closure of the transaction, Outrigger’s current management team will continue to lead the company and the company’s headquarters will remain in Honolulu, Hawaii.

Outrigger currently operates or has under development 37 properties with approximately 6,500 rooms located in Hawaii (Oahu, Maui, Kauai, Hawaii Island); Guam; Fiji; Thailand; Mauritius; and the Maldives.

Additional materials regarding the transaction are available at www.OurVoyageContinues.com

ABOUT KSL CAPITAL PARTNERS, LLC‍

KSL is a leading investor in travel and leisure enterprises in five primary sectors: hospitality, recreation, clubs, real estate and travel services. KSL has offices in Denver, CO; Stamford, CT; and London, UK.  Since 2005, KSL has raised approximately $7 billion of capital and completed more than 30 investments in the travel and leisure industry. KSL’s current portfolio includes some of the premier properties in travel and leisure. In the United States, KSL affiliates own the Miraval Group, the owner and operator of luxury spa and wellness properties, and the Monarch Beach Resort in Dana Point, California. KSL affiliates also own premier recreation businesses, including iFly Indoor Skydiving, the world’s leading operator of indoor skydiving facilities, Squaw Valley Alpine Meadows, one of the leading ski resorts in North America, and WellBiz Brands, one of the largest health and wellness franchise organizations in the United States. KSL affiliates own Ross Aviation, a leading owner and operator of Fixed Based Operations. In the United Kingdom, KSL affiliates own The Belfry in the West Midlands, Village Hotel Club, a chain of 28 boutique hotels throughout the U.K., and Cameron House in Loch Lomond, Scotland.

ABOUT OUTRIGGER HOTELS AND RESORTS‍

Outrigger Hotels and Resorts is a privately held leisure lodging, retail and hospitality company with corporate offices in Hawaii and operating globally in the Asia-Pacific, Oceania and Indian Ocean regions. From its Outrigger Signature Experiences to its Outrigger DISCOVERY loyalty program, the values-based company invites guests to escape ordinary with exceptional hospitality and authentic cultural experiences, incorporating local traditions and customs at each of its properties worldwide. Guided by 69 years of family leadership, Outrigger runs a highly successful, multi-branded portfolio of hotels, condominiums and vacation resort properties, including Outrigger® Resorts, OHANA Hotels by Outrigger®, Hawaii Vacation Condos by Outrigger®, Embassy Suites®, Holiday Inn®, Best Western®, Wyndham Vacation Ownership® and Hilton Grand VacationsTM. Outrigger currently operates and/or has under development 37 properties with approximately 6,500 rooms located in Hawaii (Oahu, Maui, Kauai, Hawaii Island); Guam; Fiji; Thailand; Mauritius; and the Maldives. Find out; find Outrigger at: www.outrigger.com or visit @OutriggerResorts on Facebook, Instagram, and Twitter.

Media Contacts:

Outrigger Hotels and Resorts
Monica Salter, VP Corporate Communications
Ph: 808‐ 921-6839
Email: monica.salter@outrigger.com

KSL Capital Partners, LLC
Julie Messing-Paea
Ph: 310-691-9979
Email: julie.messing@mac.com

Denver, Colorado, September 27, 2016 – KSL Capital Partners, LLC announced that certain of its affiliates (“KSL”) have entered into a definitive agreement to sell an aggregate of 2,727,750 common shares of Whistler Blackcomb Holdings Inc. (“Whistler Blackcomb”) in private transactions for CAD$36.38 per common share (or CAD$99.2 million in aggregate) representing approximately 7.1% of Whistler Blackcomb’s issued and outstanding common shares. Following completion of the transaction, KSL will continue to exercise control or direction over 6,364,750 common shares or 16.7% of Whistler Blackcomb’s issued and outstanding common shares.

On August 5, 2016, Vail Resorts, Inc. (“Vail Resorts”) and Whistler Blackcomb announced that they had entered into a strategic business combination joining Whistler Blackcomb with Vail Resorts (the “Vail Transaction”). Under the Vail Transaction, subject to the conditions set out therein, Vail Resorts would acquire 100 percent of the stock of Whistler Blackcomb, whose shareholders would receive per share CAD$17.50 in cash and 0.0998 shares of Vail Resorts common stock, subject to a currency exchange rate adjustment, as described in the Management Information Circular of Whistler Blackcomb dated August 31, 2016.

KSL entered into a support and voting agreement with Vail Resorts in respect of the Vail Transaction on August 8, 2016, which agreement remains in effect.  KSL continues to be shareholder of record in respect of 9,092,500 common shares of Whistler Blackcomb in respect of the special meeting of Whistler Blackcomb’s shareholders scheduled for October 5, 2016 and KSL has submitted its proxy in favor of the Vail Transaction. KSL believes the strategic combination of North America’s premier four-season mountain resort with the leading global mountain resort operator will result in additional geographic diversity, increased marketing exposure and guest relationships, and greater financial resources to complete Whistler’s ambitious growth plans. Eric Resnick and Peter McDermott, both of KSL, continue to serve on Whistler Blackcomb’s board of directors.  KSL does not intend to sell any additional common shares prior to the conclusion of the Vail Transaction.

An amended report regarding KSL’s holding in Whistler Blackcomb will be filed on SEDAR and will be available under Whistler Blackcomb’s profile at www.sedar.com or by request in writing to KSL Capital Partners, LLC, 100 St. Paul Street, Suite 800, Denver CO 80206.

ABOUT KSL CAPITAL PARTNERS, LLC‍

KSL 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, CO; Stamford, CT; and London. Since 2005, KSL has raised approximately $7.4 billion in equity capital commitments. KSL’s current portfolio includes some of the premier properties in travel and leisure. In the United States, KSL owns the Miraval Group, the owner and operator of luxury spa and wellness properties, and the Monarch Beach Resort in Dana Point, California. KSL also owns premier recreation businesses, including Ross Aviation, which focuses on serving private aircraft at fixed based operations locations at major national and regional airports, iFly Indoor Skydiving, the world’s leading operator of indoor skydiving facilities, Squaw Valley Alpine Meadows, one of the leading ski resorts in North America, WellBiz Brands, one of the largest health and wellness franchise organizations in the United States. In the United Kingdom, KSL owns Cameron House on Loch Lomond, The Belfry in the West Midlands and Village Hotel Club, which owns and operates a portfolio of 28 hotels throughout the United Kingdom. For more information, please visit www.kslcapital.com.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This press release may contain forward-looking statements or information, within the meaning of applicable Canadian securities laws, including, but not limited to, statements with respect to the transactions disclosed herein and the Vail Transaction and other information or statements about future events or conditions which may prove to be incorrect. Any forward-looking statements and information are made as of the date of this press release, and KSL has no intention and assumes no obligation to update or revise any forward-looking statements or information to reflect new events or circumstances, except as required by applicable Canadian securities laws.

The head office of Whistler Blackcomb Holdings Inc. is:
4545 Blackcomb Way
Whistler, B.C. VON 1B4