Vail Resorts to purchase Vermont ski area

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STOWE, Vt. — Colorado-based Vail Resorts is purchasing Stowe Mountain Resort in Vermont for $50 million.

The company announced the news on Tuesday saying it has reached an agreement to acquire the resort from the Mount Mansfield Company.

This will be Vail Resorts’ first ski resort on the East Coast. The company owns ski areas in several mountain states as well as British Columbia and Australia.

The deal has the company acquiring all assets related to mountain operations at Mount Mansfield and Spruce Peak.

Other facilities such as the mountain lodge, mountain club and country club will be retained by the Mount Mansfield Company.

Vail Resorts will also include Stowe Mountain Resort into its Epic Pass and other season pass products for the 2017-18 season.