Arapahoe Basin ski area, proudly independent for decades — even as mergers and consolidations came to dominate ski industry news — is being acquired by Denver-based Alterra Mountain Co., according to a Monday morning news release.
A-Basin has been owned since 1997 by Dream Unlimited, a Canadian real estate firm previously known as Dundee Realty. During Dream’s ownership, every lift on the mountain has been replaced, and two new on-mountain restaurants have been built. A-Basin was its only ski-related holding.
A-Basin chief operating officer Alan Henceroth, who began there as ski patrol director 36 years ago and has been in charge since 2005, confessed experiencing some emotional swings since he first learned the sale was in the works last November.
“There have been some ups and downs in the emotions for sure,” Henceroth said. “Dream has owned Arapahoe Basin for 27 years, and I have a really great relationship with my boss. We’ve got a really good thing going. I was really sad when I first heard. Dream has invested a lot into this place over the years, and they’ve done a tremendous job running the resort. It’s time for them to take their next steps. I think it made sense that it was time to sell, but it was still, initially, very sad.”
Henceroth, who will remain in his current role, said he is “very excited” about working with Alterra.
“I think they’re going to be able to really help us focus on what we do well, and we’ll be able to do those things even better,” Henceroth said. “And, I think they’re going to be able to help us address some things that maybe we don’t do quite as well.”
Judging by social media posts, A-Basin’s most ardent fans are alarmed by the prospect of Alterra taking control. Henceroth sounds convinced that Alterra understands what makes the area unique and will seek to preserve those qualities.
“I think the Alterra guys know a lot about skiing,” Henceroth said. “A number of their top people ski here on a regular basis. I think they’re buying Arapahoe Basin for what it is. I have very high confidence that Alterra recognizes what they’re buying, and what’s special about what they’re buying, and they’re going to help us be even better.”
Early reaction to the news was primarily negative on A-Basin’s Facebook page, as commenters lamented what they perceive as the end of era of independence for the resort.
“This is the worst news I have ever heard. Parking already fills by 8 a.m. on a weekend. Bad bad bad decision. RIP the local vibe of The Legend.”
“Another domino falls … corporate domination seemingly too powerful at this point to stop … days of skiing being soul are a memory of the past. Please independent ski resort owners who are left … make a last stand, as hard as it likely is (and only getting harder) to continue operations independently. Stand up for integrity, a forgotten principle of the distraction these two large conglomerates (both Ikon & Epic, neither of which are either ) have brought to mountain towns.”
“This makes me sad. A-Basin has always been a staple of the best skiing and without all the corporate tourist polish. It still showcases its natural beauty without being overgrown and overrun like all of the other resorts in Summit County.”
“I mean, when they started literally selling/reserving the beach parking spots, it was clear it was changing. What a shame.”
Alterra owns 17 resorts, including Steamboat, and it manages Winter Park for the City of Denver. Alterra also provides access to dozens more resorts through the Ikon Pass.
The deal is expected to close later this year.
“Arapahoe Basin is considered legendary for a reason,” said Jared Smith, Alterra’s president and chief executive, in a statement. “From its unparalleled terrain to its commitment to sustainability, A-Basin has a team that has a passion and commitment for this unique place and its traditions, making it an ideal fit for the Alterra Mountain Company family.”
Arapahoe Basin was founded in 1946 by Larry Jump, a veteran of the 10th Mountain Division “ski troops” who trained at Camp Hale near Leadville before combat in Italy during World War II.
In 1978, Ralston Purina purchased A-Basin with the intention of using it to complement neighboring Keystone, which it already owned. At the time, Keystone was much smaller than it is now and was primarily known for beginner and intermediate terrain, while A-Basin was known for more challenging slopes including the famed Pallavicini double-black. In 1993, Ralston acquired Breckenridge. Three years later Vail Resorts — which then owned only Vail, Beaver Creek and Arrowhead — moved to buy the three Ralston ski areas in Summit County.
That raised anti-trust concerns with the U.S. Justice Department, which saw it as a threat to competition for the Front Range ski market. Ultimately it ruled that Vail could acquire Keystone and Breckenridge as long Arapahoe Basin was sold to a third party. That became Dundee Realty.
Summit County’s other area — Copper Mountain — is owned by Utah-based Powdr, which also owns Eldora Mountain Resort and nine other areas. Alterra rival Vail Resorts now owns five Colorado resorts — Vail, Beaver Creek, Keystone, Breckenridge and Crested Butte — and three dozen others. Vail Resorts sells Epic passes, while Alterra counters with Ikon passes.
In an era when many ski resorts feel excessively corporate and faceless to longtime skiers and riders, Henceroth has been the face of Arapahoe Basin, writing a regular blog on the main page of the area’s website to share news and personal observations.
“Writing the blog has enabled me to really connect with a lot of our guests, and I’ve made a lot of friends doing it,” Henceroth said, his voice cracking with emotion. After pausing and apologizing for “getting choked up,” he continued. “The chance to meet people and connect is really good. I think people don’t need to worry. We’re in good hands, and we’ve got a great team here.”
