Squaw Valley, CA – The transaction previously announced in September between KSL Capital Partners and JMA Ventures, which joins Squaw Valley and Alpine Meadows under one operating company, has officially closed. This announcement affirms that skiers and riders can access Squaw Valley and Alpine Meadows’ 6,000 acres, 44 lifts and over 270 trails on one lift ticket or season pass.
Although the two Lake Tahoe ski resorts are situated immediately next to one another, further fueling long-held speculation that they will join via lifts and trails, for now they will be connected by complimentary shuttles that will provide transportation between base areas.
“Since announcing the merger, the Alpine Meadows and Squaw Valley joint pass products – the Tahoe Super Pass and Tahoe Super Six, and Squaw Valley’s $50 million renaissance, the response from our guests has been overwhelmingly positive,” said Andy Wirth, Squaw Valley’s president and CEO who will take the helm as the president and CEO of Squaw Valley Ski Holdings, LLC, the newly formed parent company of both Squaw Valley and Alpine Meadows. “The opportunity to experience these two incredible mountains, each with their own unique spirit and character, through one pass and one ticket has resonated deeply with our guests.”
“We are extremely pleased to announce what is certainly the biggest news of the 2011-12 ski season,” added Todd Chapman, president and CEO of JMA Ventures. “We look forward to working with Squaw Valley management, to introducing our guests to the greatly expanded opportunities that result from this combining of forces with Squaw Valley, and to the exciting days that lie ahead for these two magnificent properties.”
In honor of the closing that unites these two resorts, the new combined company, Squaw Valley Ski Holdings LLC, is pledging $25,000 to the Community House, a new community center and a service delivery program spearheaded by the Tahoe Truckee Community Foundation (TTCF). The Community House will provide space for a host of local non-profit organizations that provide support and resources to families in times of need, all within walking distance to the elementary school, Boys and Girls Club and Kings Beach library. Those non-profits include Tahoe SAFE Alliance, the North Tahoe Family Resource Center, and Project MANA.
“Having Squaw Valley lead the way by providing the first gift toward purchasing property to house the Community House is incredibly significant,” said Linda Brown, TTCF’s interim CEO. “Squaw Valley, under Andy Wirth’s leadership, has emerged as an outstanding corporate and philanthropic leader. With Squaw’s gift and donations from others, the Tahoe Truckee Community Foundation will be able to secure long-term space for non-profits providing critical core services for families in Kings Beach, enabling them to live with dignity and opportunity in our community.”