12/13/2012 01:10 pm ET

Colorado-Based Vail Resorts To Acquire, Renovate Mount Brighton Ski Area

At the Mount Brighton ski area, snow is green. Vail Resorts, Inc., owner of the eponymous Vail ski resort and other major mountain resorts in the Colorado Rockies and Lake Tahoe regions, has entered into an agreement to purchase the ski destination located about 40 miles west of Detroit and 20 miles north of Ann Arbor.

"We believe there's an opportunity for us to look at key urban markets where there's a concentration of skiers and riders and where there are local ski areas. And we believe there's an opportunity to connect our destination resorts in Colorado and California with those markets by owning some of these resorts in these key markets, and then creating a conduit between that particular ski area and market back out to our western destination resorts. A lot of our guests currently come from Michigan, as an example," says John Garnsey, president of global mountain development at Vail Resorts, Inc.

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