Thursday, 2 Feb 2023

Colorado ski resort owner buys stake in Chile’s Valle Nevado

The parent company of Durango’s Purgatory Resort recently expanded to the global ski market as the new majority owner of the largest ski resort in the Americas: Valle Nevado in Chile.

It’s the first international resort for Mountain Capital Partners, which manages ski resorts and mountain bike parks in Colorado, New Mexico, Arizona, Utah and Texas.

The company’s Colorado ski areas include Purgatory and Hesperus Ski Area. Purgatory recently earned acclaim from The Wall Street Journal, which called it a “world class” ski village that won’t break the bank.

Mountain Capital Partners also owns the Colorado’s largest snowcat skiing operation, Purgatory Snowcat Adventures.

The company’s latest acquisition, announced on Jan. 12, is situated near Chile’s capital city of Santiago in the Andes Mountains. Valle Nevado spans 23,000 acres, with 17 lifts and 25 miles of skiing on 44 trails. Annually, it receives an average of 276 inches of snow.

“I couldn’t be more proud to introduce our vision to South America,” said MCP managing partner James Coleman. “I’ve been bringing friends and family to Valle Nevado for years, and I love the incredible beauty, the amazing people and the unparalleled skiing that this resort offers.”

Mountain Capital Partners has sunk more than $65 million into its resorts over the past eight years. With Valle Nevado now part of its portfolio, the company’s skiable terrain has more than quadrupled.

The South American resort’s leadership team and support staff will be retained in the transition. Future investments in Valle Nevado will be announced later, Coleman said.

“We are very pleased to have reached an agreement with James, whom we have known for so many years,” said Ricardo Senerman, Valle Nevado chairman. “We are sure that having ski resorts in the northern and southern hemispheres with top quality services and products is a win–win for all.”

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