There are many changes happening at Lake Tahoe ski resorts with the recent merge of Squaw Valley and Alpine Meadows. This was big news for Squaw Valley and Alpine Meadows – combining their ski resorts! The company that has recently taken over Squaw Valley has big plans for the mountain. The new owners are “committing more than $50 million in capital improvements over the next three to five years.”
New Squaw Valley owners plan $50 million upgradesNovember 24, 2010|Andrew S. RossIf you’re planning Thanksgiving holiday at Squaw Valley, you’ll be able to celebrate its 71st anniversary, and say hello to its new owners.
KSL Capital Partners, a private-equity firm in Denver has taken over the 4,000-acre resort founded by Alexander Cushing in 1949. It had stayed in the Cushing family ever since.
Terms of the acquisition, to be completed by the end of the year, were not disclosed. But in a letter to Squaw Valley regulars, Squaw Valley USA‘s current CEO, Andrew Wirth, said KSL, “with a respectful eye for the past,” is committing more than $50 million in capital improvements over the next three to five years. The acquisition is “part of a new era in Squaw Valley’s incredible history,” he said.