No business like snow business: Whistler sold for $1.4B

U.S. ski operator Vail Resorts add B.C.’s Whistler Blackcomb resort to its portfolio, in a deal estimated at $1.4 billion.

The Canadian Press reported that this will mark the first Canadian property for the Colorado-based resort chain, which owns ski resorts across the U.S. and Australia. Vail CEO Rob Katz was quoted in the report as stating the purchase will help attract a growing percentage of inbound Chinese travellers looking for ski vacations, denying the timing of the deal was based on the current value of the Canadian dollar.

Earlier this year, Whistler announced a $345 million plan dubbed the Renaissance project, which will expand and improve ski infrastructure at the resort.

The deal is expected to close in the fall.