U.S. ski resort operator Vail Resorts has paid $136 million to take over Australia's popular Mount Perisher ski area in the Snowy Mountains.
Vail, which owns a dozen or so ski areas in the U.S. (Colorado, California, Utah, Michigan and Minnesota) as well as large numbers of resort hotel properties, will operate the Perisher resort, as well as offering Perisher season pass holders access to its U.S. resorts.
The deal is driven, sadly, in part by global climate change; the Snowy Mountains aren't as reliably snowy as they were; in one recent year snowfall was only about 7" and artificial snow-making has become more and more important. With many Australian skiiers leaving the country for vacations in snowier spots, Vail is making a bid for a chunk of that audience. From Guardian (UK) DETAILS
Photo: Snow-making equipment at work on Mount Perisher (Wikimedia / Ruth Ellison)