Mountain Capital Partners Becomes Majority Owner Of The Largest Ski Resort In The Americas

Mountain Capital Partners (MCP) and Chilean resort Valle Nevado announced that MCP has completed its purchase of the largest ski resort in the Americas.

Valle Nevado is one of South America’s top ski resorts, located just 90 minutes east of Santiago City (capital of Chile). With a base elevation of 9,925 feet and south orientation, Valle Nevado has the best snow quality in the region. The resort was founded in 1988 and has 2,200 skiable inbound acres; 16 lifts including one gondola, five chairlifts and 10 surface lifts; and onsite heli-skiing directly from the resort with drops of over 5,000 vertical feet. With three hotels (Valle Nevado, Puerta del Sol and Tres Puntas), ski & snowboard school, rentals, shopping and 11 bar and restaurants, Valle Nevado offers a unique experience in the heart of the Andes. 

Valle Nevado general manager Ricardo Margulis said the closing is “one of the most important milestones in Valle Nevado's history.” 

“The arrival of MCP – a first level strategic partner – puts an end to a tremendously challenging period that put all our leadership to the test, and begins a new era where the goal will be to strengthen the ski resort’s offering and infrastructure, and resume the path to continue building the best snow destination of the Southern Hemisphere,” he said.

Since 2000, MCP has acquired, built, developed and successfully grown ten resorts in New Mexico, Arizona, Colorado, Utah and Texas. Last fall, MCP introduced a new geographical region to the company with the addition of Willamette Pass Resort near Eugene, Oregon. The Valle Nevado acquisition marks MCP’s first international resort and 11th ski area.

Over the years, MCP managing partner James Coleman has been a regular visitor at Valle Nevado, and plans are well underway to ensure the ski area continues its reputation as the continent’s premier ski resort destination, he said.

“The significance of today, both for our shared teams and guests and for me personally, cannot be overstated. I’m tremendously proud of what we’ve already accomplished and confident in what’s still to come,” Coleman said.

Coleman said that future investments are still being planned, although the team is investigating adding to Valle Nevado’s 16 lifts, which are considered the most modern lift system in South America. Since 2015, MCP has invested more than $65 million at its ski areas and bike parks to deliver the company’s signature “Skiing First” improvements including new chairlifts, Arizona’s first and only gondola, trails, snowmaking and other capital improvements.

MCP’s managing partner also added that Valle Nevado’s presence on the company’s flagship season pass product, the Power Pass, is still being determined for the 2023/2024 season. The Power Pass currently provides unlimited access to nine mountains in Colorado, Arizona, Utah, New Mexico, Oregon and Texas. 

Located in the heart of the Andes mountain range just 37 miles from Santiago, the capital and largest city of Chile, Valle Nevado is the largest ski area in the Americas and boasts the region’s highest quality of snow, thanks to the resort’s base elevation of 9,925 feet and its annual average 276 inches of snow. The continent’s leading resort includes 23,000 acres (including 2,200 inbound skiable acres); 16 lifts; 25 miles of skiing via 44 trails; a world-class village; three ski-in, ski-out hotels and more. 

The resort is scheduled to open in mid June, pending snow conditions, although long range forecasts are already showing favorable snow conditions for the upcoming season. Several upgrades are currently underway, including a new freeride ski area, an additional terrain park and three new trails (two advanced, one expert).

MCP has a long history of successfully working with resort owners, leaders and teams and, consistent with past acquisitions, MCP will continue to retain the Valle Nevado leadership team and all support staff.

Tim Gifford, Senior Managing Director of CBRE Capital Advisors Latin America was the exclusive advisor in the process. 

For more information, please visit mcp.ski or vallenevado.com.