VAIL, Colo.—Vail Resorts Inc. has agreed to acquire the mountain shuttle service Colorado Mountain Express for $40.5 million.
The sale is expected to close in late fall.
CME has about 250 vans and SUVS that take people from Denver International Airport and Eagle County Airport to the Vail and Aspen areas and Summit County.
“The acquisition of Colorado Mountain Express is perfectly aligned with our mission of providing exceptional experiences at our extraordinary resorts as it represents the first touch point with many of our guests when they arrive by air in Colorado,” Vail Resorts CEO Rob Katz said Tuesday in a written statement.
Katz said the shuttle service also allows guests to reduce fuel consumption and the number of vehicles on Interstate 70. He said the service will continue to take people to rival resorts after Vail Resorts acquires it.
Jay Ufer, the CEO of CME, said the deal would give his company more opportunities for growth.
Katz said CME employees and management would join Vail Resorts.
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Information from: Vail Daily,
