Stowe Mountain Resort: Ownership History and Corporate Tales

Stowe Mountain Resort, a premier ski destination in the Green Mountains of Vermont, has a rich ownership history that reads like a tale from the corporate annals. From its founding days to the current ownership, the resort has seen a remarkable journey. In this article, we delve into the intricate details of who owns Stowe Mountain Resort today, the story behind its former insurance company owner, and the business strategies that led to its transfer.

Current Ownership: Vail Resorts

The current owner and steward of Stowe Mountain Resort is Vail Resorts, a powerful multinational corporation based in Colorado. Vail Resorts acquired Stowe Mountain Resort in 2017, marking a significant shift in the resort's corporate landscape. This acquisition represents Vail's expansion into their eastern market, following their dominance in the western United States ski industry.

AIG: A Historical Owner and the Founding Legend

Before Vail Resorts took the reins, Stowe Mountain Resort was owned by a much larger organisation with a surprising twist. The insurance giant AIG (American International Group) was the proud owner of Stowe Mountain Resort for seven decades, from 1949 to 2017. The story behind this unique ownership is as intriguing as it is historical.

According to urban legend, one of the founders of AIG found himself waiting in a ski lift line like any other skier and became so incensed that he decided to purchase the resort to control his own line-up time. While this anecdote may be apocryphal, it captures the spirit of corporate acumen that AIG brought to Stowe during its ownership period.

AIG's Legacy and Non-Core Asset Sale

AIG, no stranger to the world of business, went through a rough patch following the economic downturn of 2008. The company faced immense pressure due to poor management and regulatory scrutiny. In an effort to streamline operations and realign with their strategic objectives, AIG decided to offload some of its non-core assets.

This decision included selling Stowe Mountain Resort. While AIG still maintains a presence in the hospitality and real estate sector, with ownership of several related properties, the sale of Stowe marked a significant shift in their corporate portfolio. It is understood that this strategic move was part of AIG's effort to focus more on their insurance and financial services core businesses.

The Future of Stowe Mountain Resort

Under Vail Resorts' management, Stowe Mountain Resort continues to thrive, offering world-class skiing, hospitality, and recreational activities. The transfer of ownership to Vail has brought modern amenities, expert management, and continued investments in the resort's facilities and infrastructure.

With a combination of the resort's history, Vail's resources, and the dedicated team, Stowe Mountain Resort is poised to become an even more beloved destination for skiers and winter enthusiasts. The future looks bright for both the resort and the communities that surround it.

Stay tuned for updates on the latest developments at Stowe Mountain Resort and the ongoing story of its ownership.