Vail Resorts aquires Northstar at Tahoe

EAGLE COUNTY, Colorado — Vail Resorts Monday announced it had acquired the Northstar-at-Tahoe Resort in North Lake Tahoe, Calif. According to a release from Vail Resorts, the price was $63 million.

Vail Resorts acquired a long-term lease on the property — owned by CNL Lifestyle Properties Inc. — from Vail-based Booth Creek Ski Partners. Northstar is near Vail Resorts' Heavenly Mountain Resort at South Lake Tahoe.

“We are thrilled by the opportunity to bring Northstar-at-Tahoe into our family of world-class mountain resorts. With substantial and diverse ski terrain, a completely renovated and modern base village and outstanding guest service, Northstar-at-Tahoe has been one of the fastest growing mountain resorts over the past few years,” said Rob Katz, chairman and chief executive officer of Vail Resorts, in an e-mailed statement.