by Sarah Kuta
Last updated: 9:35 AM ET, Wed February 7, 2024
Colorado’s Arapahoe Basin Ski Area is being sold to Alterra Mountain Company, which owns more than a dozen North American ski resorts and the popular multi-mountain Ikon Pass.
Arapahoe Basin’s parent company, Dream Unlimited Corp., has owned the high-elevation ski resort in the Rocky Mountains for the last 27 years. The deal is expected to close later this year, pending regulatory approval.
Founded in 1946, the ski resort is known for its irreverent, no-frills atmosphere and steep slopes. Arapahoe Basin promised to maintain that personality through the ownership change.
“Change is a rich part of our history at A-Basin,” says Alan Henceroth, who will stay on as the resort’s chief operating officer under the new owners. “Through different ownerships and eras, we’ve always been able to keep the vibe alive at our mountain.
Arapahoe Basin and Alterra have had a partnership since 2019, when the ski resort became a destination on the Ikon Pass. That existing relationship gives Henceroth confidence in Alterra’s commitment to maintaining Arapahoe Basin’s “history, culture and attitude,” he adds.
“They know and understand The Basin and are enamored by its culture and vibe,” Henceroth wrote in a blog post. “They are the best team to help us through our next phase of growth and maturation.”
When Dream Unlimited Corp. took over Arapahoe Basin in 1997, the resort spanned just 490 acres. Since then, the ski resort has expanded to 1,428 acres. The parent company also replaced every chairlift, as well as several of the buildings, and opened the two highest-elevation restaurants in North America, il Rifugio and Steilhang Hut.
Alterra Mountain Company, meanwhile, has been slowly adding to its portfolio of ski resorts and ski-related businesses. Most recently, in August 2023, it purchased Schweitzer, a 2,900-acre resort in Idaho’s Panhandle.
“At each destination, Alterra leaders are empowered to be decisive, creative and bold in order to retain each mountain’s authentic character,” according to the press release announcing the deal. “Recognizing the innate value of the unique culture found at each of the mountain communities, Alterra Mountain Company’s goal is to preserve, sustain and support its two most important resources: the mountains and the people.”
Once the deal goes through, Arapahoe Basin will join several other Alterra-owned ski resorts in the Western U.S., including Winter Park Resort and Steamboat Ski Resort in Colorado; Mammoth Mountain, Palisades Tahoe, June Mountain and Big Bear Mountain Resort in California; and Deer Valley Resort in Utah, to name a few.
Alterra also owns the Ikon Pass, a multi-mountain resort that provides skiers and snowboarders with access to more than 50 ski areas around the world.
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