Vail Resorts has recently continued its Vermont expansion with a purchase of Triple Peaks, the parent company that owns Okemo Mountain Resort in Ludlow. The $82 million deal also includes Crested Butte Mountain Resort in Colorado and Mountain Sunapee Resort in New Hampshire. As part of the deal, Vail Resorts has committed to spending $35 million over two years to improve its new holdings. All three resorts will be included in Vail’s Epic Pass for the 2018 – 2019 winter season, providing a variety of choice for pass holders and guests in New England, Colorado and the Pacific Northwest. The purchase should have a strong positive impact on occupancy in the Ludlow hospitality market, including at this Select Registry, Okemo Resort Area Inn for sale.
The recent purchase comes on the heels of Vail’s purchase of ski operations at Stowe Mountain Resort for $41 million in February 2017, which was the company’s first foray into resort ownership on the East Coast. A year after the purchase, Inn and restaurant owners in Stowe have seen positive growth in income and occupancy.
The “Vail effect” is drawing people to Stowe (Epic Pass holders) who might not have come had Vail Resort not purchased ski operations. The purchase has helped to create a steady flow of business throughout the year, even filling in the typical drop-off between Thanksgiving and Christmas. In addition, guests appear to be staying longer, as the Epic Pass is a bargain, while the price of one-day tickets continue to rise. We expect to see the same growth in Ludlow, Vermont, home to this Select Registry Okemo Resort Area Inn for sale.
Okemo Mountain Resort rises above the village of Ludlow, approximately three hours from Boston and four hours from New York City. The resort has developed a strong reputation over the years for superior guest service, incredible snow quality, grooming, terrain parks and family programs. At present, around 500,000 skiers visit Okemo annually.
The Inn at Water’s Edge enjoys an ideal location in Ludlow, on the shores of Echo Lake and adjacent to the 295-acre Camp Plymouth State Park. The Inn sits just off of VT Route 103 and the Scenic Route 100 Byway, which was recognized by Yankee Magazine as one of “the most scenic drives in New England.” A variety of outdoor activities draw guests to the area in summer and fall, including the world class Okemo Valley Golf Club. In winter, the Vermont village comes alive with winter at the fore. The Inn at Water’s Edge enjoys an ideal location under 10 minutes from Okemo Mountain Resort, but tucked away on 1.6 wooded acres with private lake access.
We had the pleasure of revisiting the Inn at Water’s Edge last week and were reminded of the quality of the physical plant (the owners have been meticulous in their renovations and upgrades) and the opportunity for growth in the near future.
Call us at 877-957-2360 to discuss this opportunity in detail, including the possibility of owner financing for qualified buyers.