Stowe Mountain Resort is one of the most popular ski resorts in Vermont, known for its stunning views and world-class skiing facilities. But have you ever wondered who owns this beautiful resort? In this article, we’ll explore the history and ownership of Stowe Mountain Resort.
The History of Stowe Mountain Resort
Stowe Mountain Resort was originally founded in 1937 by the American financier, C.V. Starr. At the time, it was a small ski area with just one lift and a handful of trails. However, it quickly grew in popularity and became a beloved destination for skiers from all over the world.
Over the years, Stowe Mountain Resort has undergone several changes and expansions. In 1988, it was purchased by AIG (American International Group), which invested heavily in upgrading the infrastructure and facilities. Then in 2008, AIG sold the resort to real estate developer Sam Byrne’s company Spruce Peak Realty LLC.
Who Owns Stowe Mountain Resort Now?
Today, Stowe Mountain Resort is owned by Vail Resorts, one of the biggest players in the ski industry. Vail Resorts acquired Stowe Mountain Resort from Spruce Peak Realty LLC for $50 million in 2017.
Vail Resorts is known for owning some of the most popular ski destinations in North America, including Whistler Blackcomb, Park City Mountain Resort, and Breckenridge Ski Resort. With its acquisition of Stowe Mountain Resort, Vail Resorts added another top-tier ski destination to its portfolio.
What Does This Mean for Skiers?
For skiers who love Stowe Mountain Resort, there’s good news: Vail Resorts has a reputation for investing heavily in its properties to improve guest experiences. This means that we can expect to see continued improvements at Stowe Mountain Resort under Vail Resorts’ ownership.
However, some locals and longtime visitors have expressed concerns about the impact of corporate ownership on the resort’s character and culture. Stowe Mountain Resort has always had a unique charm and personality that sets it apart from other ski destinations, and some worry that this could be lost under Vail Resorts’ management.
The Bottom Line
In conclusion, Stowe Mountain Resort is currently owned by Vail Resorts, one of the biggest players in the ski industry. While this acquisition has raised some questions and concerns among locals and visitors, it also presents an opportunity for continued growth and improvement at this beloved ski destination.
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