Schweitzer owner enters into agreement to sell resort operations business to Alterra Mountain Company. The acquisition expands Alterra’s portfolio to 17 year-round mountain destinations across North America.
SANDPOINT, ID – MKM Trust, owner and developer of Schweitzer, announces that it has agreed to sell Schweitzer’s resort operations assets to Alterra Mountain Company. Schweitzer expands Alterra’s portfolio in the Pacific Northwest, joining Crystal Mountain in Washington. The addition of Schweitzer will bring the company’s total to 17 year-round mountain destinations throughout North America.
As the only mountain resort within the MKM Trust portfolio for the past 18 years, Schweitzer has been consistently recognized as one of the region’s top ski destinations, in part due to significant strategic investments that have been made over the past several years. With room for growth and plans for future expansion and development, MKM’s decision to exit the resort operations business puts Schweitzer in a favorable position to begin a new chapter with Alterra at the helm.
“Since becoming an Ikon Pass partner in 2021, we’ve had the good fortune of learning how Alterra Mountain Company has quickly evolved into an industry leader,” said Tom Chasse, President and CEO of Schweitzer. “The company’s commitment to preserving the authenticity of their mountain communities while investing in the overall mountain experience is what we’re most looking forward to as the newest member of the Alterra family.”
Starting in the early 2000’s, over $100M in capital has been invested into Schweitzer to help fortify itself as a premier destination in the Pacific Northwest, including terrain expansion, 5 new lifts, Sky House – on-mountain day lodge, Humbird – a 31-unit boutique hotel in Schweitzer’s village, and Cambium – a brand new wellness spa.
“With an incredible mountain in one of the most beautiful settings in the country and a world-class operating team, Schweitzer has everything we look for in a destination,” said Jared Smith, President & CEO, Alterra Mountain Company. “The mountain has been a valued partner on the Ikon Pass for several seasons so we’ve been able to see the exceptional team, community, and opportunities for continued investment up close.”
Tom Chasse will stay on as President and CEO of Schweitzer and will oversee daily operations of the destination and future capital improvement plans.
The MKM Trust, which has been the owner and developer of Schweitzer for the past 18 years, will retain non-ski operations real estate holdings, and will continue to lead future real estate development projects that support the vibrancy of the Schweitzer community.
The transaction is expected to close later in 2023, and is subject to certain closing conditions, including regulatory approvals. Terms of the transaction were not disclosed. More details will be released once the transaction has closed.
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