Ski resort receives 50 million dollars

Ski resort receives 50 million dollars

Squaw Valley is one of the most popular ski resorts in USA, located on Lake Tahoe, receives 50 million dollars from investors to the development of its infrastructure. The new resort owner,an investment fund KSL Capital Partners, will provide such a substantial financial infusion.

Squaw Valley is a legend of ski resorts in USA. This resort was founded in 1949 and in 1960 it was honored to host the Winter Olympics. Precisely in Squaw Valley hosted the first Winter Olympic events broadcast. Among other things, the Olympics in Squaw Valley, and remember one of the best games in the history of hockey. Then, at the height of the Cold War, took the final game between the teams of the USSR and the United States, in which victory went to the Americans.

Today the resort with a rich history continues the tradition of one of the best ski areas in North America. Funds that Squaw Valley will receive from the new owner will be used for purchasing equipment and new recreational areas. At Squaw Valley already in this season you will see a number of innovations, such as a park for snowboarders’ workout and a new terminal superpodemnika Funitel - single lift of its kind in the United States.

By the beginning of the season the resort is planning to get $ 15 million - the first part of the investment package. These funds will also create a network of taverns and restaurants.

Such large-scale investment in one of the leading ski resorts in the USA became possible after the change of ownership. Throughout its history the resort belonged to the family of Alex Cushing - the founder of Squaw Valley. It is considered the author of the concept of Cushing ski Squaw Valley, which he borrowed from European resorts. Anyway, in 2010 the family sold the resort Cushing KSL Capital Partners, which now will be manage them and become a major investor.

Ilya Kalachev

Date: 17/08/2011