Vail Resorts Acquires Accommodation Station
South Lake Tahoe's Third Largest Property Management Company
Octoober 7, 2010 - Vail Resorts, Inc. (NYSE: MTN), the parent company of Heavenly Mountain Resort, announced that it has acquired Accommodation Station, the third largest property management company in the South Lake Tahoe market, from Greta and Mike Hambsch.
Founded 34 years ago, Accommodation Station has grown to become one of South Lake Tahoe's premier, full-service property management companies for condos, mountain chalets, cabins and luxury homes for short- and long-term rentals. Vail Resorts is planning to keep the Tahoe-based Accommodation Station team in place at the same location off of Highway 50.
"With Vail Resorts' expertise, leadership and commitment to service excellence, Accommodation Station will continue to set the bar for service," said Greta Hambsch. "I believe the purchase by Vail Resorts will ultimately benefit the homeowners and the community tremendously in the form of an expanded vision, the interrelation with Heavenly Mountain Resort and new marketing opportunities for the Tahoe community," she added.
According to Blaise Carrig, co-president of Vail Resorts' mountain division, the acquisition of the Company's first lodging collection in South Lake Tahoe will also benefit guests to the South Lake Tahoe area. "At Vail Resorts, we believe that each and every guest should have an 'Experience of a Lifetime' at our resorts and properties," Carrig said. "With the acquisition of Accommodation Station, we have a new and exciting opportunity to connect the off-mountain lodging experience with the Heavenly on-mountain experience year-round, which means our guests will have an easier and more seamless mountain vacation experience from start to finish -- with a lot of epic adventures to enjoy in between."
Vail Resorts, Inc., through its subsidiaries, is the leading mountain resort operator in the United States. The Company's subsidiaries operate the mountain resort properties of Vail, Beaver Creek, Breckenridge and Keystone mountain resorts in Colorado, Heavenly Mountain Resort in the Lake Tahoe area of California and Nevada, and the Grand Teton Lodge Company in Jackson Hole, Wyo. The Company's subsidiary, RockResorts, a luxury resort hotel company, manages casually elegant properties across the United States and the Caribbean. Vail Resorts Development Company is the real estate planning, development and construction subsidiary of Vail Resorts, Inc. Vail Resorts is a publicly held company traded on the New York Stock Exchange (NYSE: MTN).
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