Today is an incredibly exciting day for all of us following the announcement by Rob Katz that Vail Resorts has entered into an agreement for the acquisition of Hotham and Falls Creek in Victoria.
Make no mistake about it, this will be transformative for all of us, and the industry as a whole here in Australia. First and foremost this is fantastic news for our Australian Pass Holders. When the transactions close, the 2019 Epic Australia Pass will not only include Perisher, but will also include unlimited, unrestricted access to Falls Creek and is expected to include unlimited, unrestricted access to Hotham, subject to certain approvals. This gives our guests more local choice and experiences, as well as amazing Northern Hemisphere resort access at Whistler Blackcomb, the best of the U.S. and Japan. At the same time, by expanding our network locally there will be exciting opportunities opening up for all us to grow our careers and elevate our own learnings and best practices.
Following closing of the acquisition, Hotham, Falls Creek and Perisher are expected to operate largely as they have in the past for the 2019 winter season. Work will be done with the local leadership teams to determine the long-term structure for successful resort operations in alignment with the overall Vail Resorts organization, and that plan will be communicated when it is developed. In the meantime it is business-as-usual; we should not yet be engaging with our future colleagues at Hotham and Falls Creek – there will be ample opportunity to liaise with them once the deal is closed.
If you have not had an opportunity to read the press statement released today, I would encourage you to do so. Inevitably with any big announcement like this there will be questions, rest-assured we will keep you updated as more information becomes available, in the meantime if you have any questions please speak with your Manager.
Chief Operating Officer