Vail Resorts, through its subsidiaries, is the leading global mountain resort operator with 15 world-class mountain resorts and three urban ski areas.

The acquisition of Falls Creek and Hotham will see Vail Resorts expand its Australian presence into Victoria. Vail Resorts also operate Perisher Ski Resort in New South Wales.

Falls Creek is Victoria’s largest ski resort and features an assortment of terrain, including fantastic beginner and intermediate trails suited to a range of abilities. Hotham is the only resort in the Southern Hemisphere where the village is located on top of the mountain, ensuring ski-in, ski-out opportunities.

The acquisition includes ski school, retail/rental, reservation and property management operations at both resort areas.

Subject to regulatory clearances, on closing Falls Creek and Mount Hotham will join Vail’s Epic Passes.

The Epic Australia Pass provides access to world-class skiing at resorts in the United States, Canada, Japan and Australia. Resorts in North America include Whistler Blackcomb, Vail, Park City, Crested Butte; and Hakuba Valley and Rusutsu in Japan.

The complex deal required MinterEllison's broad expertise, knowledge base and relationships in areas including competition, foreign investment, tax, environment and planning and intellectual property.

The transaction, which is subject to certain regulatory approvals, is expected to close prior to the commencement of the Australian snow season in June 2019.