Vail Resorts is adding to its mountain range of properties by buying Australia’s Persher Ski Resort. The price is $136 million. For Vail, the owner of 12 ski properties, it’s the first deal it’s made internationally. Persher is owned by well-known Australian billionaire James Packer. Vail is aiming to lure Australian tourists, one million of whom travel during Australia’s warmer months in search of ski opportunities. They’ll be enticed with free passes to Vail resorts. Both companies are backing what’s becoming an increasingly marginalized business. Because of global warming, the number of available skiing days is shrinking.
Subscribe to TheStreetTV on YouTube:
For more content from TheStreet visit:
Check out all our videos:
Follow TheStreet on Twitter:
Like TheStreet on Facebook:
Follow TheStreet on LinkedIn:
Follow TheStreet on Google+:
source
