For the second time in about a month, one of Tahoe and Truckee's most significant ski resorts has sold.  Last week, it was announced that Squaw Valley has been purchased by KSL Capital Partners, a private equity firm based in Denver.  While the Northstar sale, in late October, caught me a little bit by surprise, the Squaw Valley sale comes as no surprise at all.  Ever since the passing of Alex Cushing (founder of Squaw Valley who passed 5 or 6 years ago), Squaw Valley Development Company has been making major moves to make the resort more attractive for a sale.  The most significant, and obvious, move was purchasing The Village from Intrawest.  They also made other strategic moves such as the drastic overhaul of the season pass offerings and prices (a mountain with a lot of season pass holders is very valuable), and the hiring of a new CEO (replacing Nancy Cushing) last summer.  Clearly all the packaging and posturing worked, as the sale has been announced. 

How will this impact the Truckee/Tahoe region?  Ultimately I believe both sales are very positive moves not just for the 2 ski areas but for the Lake Tahoe and Truckee economy.  These are major corporations which are coming in with plans of spending significant money to improve two of our most recognized ski areas.  This will not only improve visitor experiences, but also improve exposure to our area on a national level.  I believe the Lake Tahoe area has more to offer than Colorado or Utah, but we just haven't had as much exposure to the markets in the eastern united states.  I believe these 2 sales, along with additions such as the Ritz Carlton at Northstar, are major steps in finally bringing the Lake Tahoe region onto the national and international map.

For more information about the Squaw sale, check out these 2 articles from the Sierra Sun:

Private Equity Firm in Denver Purchases Squaw

Squaw Valley USA Sale:  Q&A with CEO