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Alterra Mountain Company to Acquire Solitude Mountain Resort in Utah

Alterra
Mountain Company announced today that it has entered into an
agreement to purchase Solitude Mountain Resort in Utah, which would
bring the company’s total to 13 year-round mountain destinations
throughout North America, including the world’s largest heli-skiing
operation.

“With its close relationship with Deer Valley Resort, Solitude Mountain
Resort is a natural fit for Alterra Mountain Company, and a tremendous
addition to our family of destinations. We are especially excited to
expand our reach within Utah and offer another ski and snowboard
experience in a state known for its exceptional snow and mountain
culture,” said Rusty Gregory, Chief Executive Officer, Alterra Mountain
Company.

Solitude Mountain Resort is located just 34 miles from the Salt Lake
City International Airport (SLC) and less than an hour from Deer Valley
Resort, in the renowned Big Cottonwood Canyon. The mountain offers
skiers and riders 77 runs, three bowls, and a vertical drop of 2,030
feet (619 meters) across 1,200 acres, plus some of the most impressive
off-piste terrain in the country. The quaint base village offers
ski-in/ski-out accommodations along with year-round activities for
guests.

“Joining the impressive group of Alterra Mountain Company destinations
places Solitude Mountain Resort in a strong position to continue to grow
and enhance the brand and culture that is Solitude,” said Kim Mayhew,
General Manager. “We are excited about the opportunities this
transaction will create for our guests, our staff, and for our community
in Big Cottonwood Canyon.”

The transaction is expected to close by the end of the third quarter of
2018, 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, including Ikon Pass
inclusion details and more.

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. Current 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. Alterra Mountain
Company was created when affiliates of KSL Capital Partners, owners of
Squaw Valley Alpine Meadows, and affiliates of Henry Crown and Company
purchased Intrawest, Mammoth Resorts, and Deer Valley Resort in 2017.

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.

In January 2018, Alterra Mountain Company introduced the Ikon
Pass for winter 2018-2019, the new standard in season passes. The
Ikon Pass offers skiers and riders access to 26 mountain destinations
throughout North America, including 12 Alterra Mountain Company
destinations, plus 14 partner destinations.

About Alterra Mountain Company

Alterra Mountain Company is a family of 12 iconic year-round
destinations, including the world’s largest heli-ski operation, offering
the Ikon Pass, the new standard in season passes. 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 Resort 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. Alterra Mountain Company also
owns Honua Kai Resort and Spa in Hawaii. For more information visit www.alterramtnco.com.

About Solitude Mountain Resort

Solitude Mountain Resort is a pure, authentic and untarnished Utah
territory. Serene or extreme, there’s nothing between you and the
perfect mountain day. Located in Big Cottonwood Canyon, Utah, the resort
offers eight chairlifts, 77 runs, three bowls and 500 annual inches of
snow spread over 1,200 acres for skiing and snowboarding.

About Ikon Pass

The Ikon Pass is the new standard in season passes, connecting the most
iconic mountains across North America, delivering authentic, memorable
snow adventures. Brought to you by Alterra Mountain Company, the Ikon
Pass unlocks access to a community of diverse destinations you want to
ski and ride, including Aspen Snowmass, Steamboat, Winter Park Resort,
Copper Mountain and Eldora in Colorado; Squaw Valley Alpine Meadows,
Mammoth Mountain, June Mountain and Big Bear Mountain Resort in
California; Jackson Hole Mountain Resort in Wyoming; Big Sky in Montana;
Stratton, Killington and Sugarbush Resort in Vermont; Snowshoe in West
Virginia; Tremblant in Quebec and Blue Mountain in Ontario, Canada;
SkiBig3 in Alberta, Canada; Revelstoke Mountain Resort in British
Columbia, Canada; Sunday River and Sugarloaf in Maine; Loon Mountain in
New Hampshire; and Deer Valley Resort, Alta and Snowbird in Utah.
Special offers are available at CMH Heli-Skiing & Summer Adventures, the
world’s largest heli-skiing operation. For more information on the Ikon
Pass, visit www.ikonpass.com.

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