Palisades Tahoe owner to acquire Idaho resort
OLYMPIC VALLEY, Calif. — Alterra Mountain Company announced on Thursday, June 1, that it has entered into an agreement to purchase Idaho’s Schweitzer, further expanding the company’s portfolio in the Pacific Northwest by joining Crystal Mountain in Washington. The addition of Schweitzer will bring the company’s portfolio to 17 year-round mountain destinations throughout North America.
Schweitzer is the largest ski area in Idaho and Washington, located in the Selkirk Mountains overlooking the picturesque town of Sandpoint, Idaho, only 80 miles from Spokane, Washington. This beloved destination offers 2,900 acres of big mountain terrain with stunning views of Lake Pend Oreille, Washington, Montana, and Canada and is often recognized for its renowned tree skiing and family fun.
“With an incredible mountain in one of the most beautiful settings in the country and a world-class operating team, Schweitzer has everything we look for in a destination,” said Jared Smith, president/CEO of Alterra Mountain Company. “The mountain has been a valued partner on the Ikon Pass for several seasons, so we’ve been able to see the exceptional team, community, and opportunities for continued investment up close.”
Tom Chasse, who has been with Schweitzer since 2006, will stay on as president and CEO. He will continue to oversee daily operations of the destination as well as future capital improvement plans, which include the development of the new Schweitzer Creek Village portal, adding approximately 1,400 additional parking spots with easy access to the new Creekside Quad lift. Eventually, Schweitzer Creek Village will also be home to a new day lodge and other skier amenities.
“Since becoming an Ikon Pass partner in 2021, we’ve had the good fortune of learning how Alterra Mountain Company has quickly evolved into an industry leader,” said Chasse. “The company’s commitment to preserving the authenticity of their mountain communities while investing in the overall mountain experience is what we’re most looking forward to as the newest member of the Alterra family.”
In the last decade, Schweitzer has invested over $100 million in capital to fortify itself as a premier destination in the Pacific Northwest, including terrain expansion and new lifts, a new on-mountain lodge, Sky House, and Humbird, a 31-unit boutique hotel in Schweitzer’s village.
The MKM Trust, which has been the owner and developer of Schweitzer for the past 18 years, will retain non-ski operations and real estate holdings, and will continue to lead future real estate development projects that support the vibrancy of the Schweitzer community.
There are no changes to Ikon Pass 23/24 winter access at this time.
The transaction is expected to close later in 2023, and is subject to certain closing conditions, including regulatory approvals. Terms of the transaction were not disclosed. More details will be released once the transaction has closed.
Source: Alterra Mountain Company
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