Merlin Entertainments to Sell Its Australian Ski Resorts

As announced by the listed British operator group yesterday, Merlin Entertainments will sell its Australian ski resorts located in Hotham and Falls Creek (both in the state of Victoria) to Vail Resorts Inc. The transaction volume amounts to 174 million Australian dollars (approx. 95 million British Pounds, around 109 million Euros), subject to certain adjustments. The deal is subject to regulatory approval and is expected to be closed by June 2019. The net proceeds will be used for general corporate purposes.

Nick Varney, CEO of Merlin, comments: “We are pleased to reach this agreement with Vail Resorts, which will allow us to focus on our core business of location based entertainment, specifically theme parks and midway attractions. It will see the business transfer to a company with a strong track record in ski resort development, and we wish Vail Resorts and the teams in Australia well.” (eap)