Vail Resorts has agreed to buy all of the ski-mountain operations at Vermont's Stowe Mountain Resort for $50 million, according to an article in Travel Weekly.
Stowe, which includes the Mount Mansfield and Spruce Peak ski areas, will become Vail's first East Coast resort.
Vail is buying the ski resort from American International Group. AIG will retain ownership of the Stowe Mountain Lodge, Stowe Mountain Club and Stowe Country Club.
Once the transaction is completed, Vail said it expects the Vermont resort to be part of Vail's Epic Pass for the 2017-18 ski season. That amenity allows skiers to buy a common pass that can be used at multiple Vail resorts. Vail's holdings include four Colorado resorts (Breckenridge, Vail, Keystone and Beaver Creek), Park City in Utah and Whistler Blackcomb in British Columbia.
Read the full article here.