Firm Completes Purchase of Alpine Meadows Resort

A San Francisco-based real estate investment firm has finalized its purchase of Alpine Meadows Ski Resort near Lake Tahoe, the resort announced Monday.

JMA Ventures bought the 2,400-acre resort in the Tahoe National
Forest from Utah-based Powdr Corp.

Powdr has owned Alpine since 1994 and recently bought Killington and Pico resorts in Vermont. It's other holdings include Boreal and Soda Springs ski areas on Donner Summit, as well as Mount Bachelor in Oregon, Park City in Utah and Las Vegas Ski and Snowboard resort.

Terms of the Alpine deal were not released.

The purchase comes on the heels of JMA's purchase last year of nearby Homewood Mountain Resort and the Hotel Avery in Truckee.

JMA President Art Chapman, who lives in Truckee, said he and his family have a vested interest in Alpine Meadows.

"My family and I have skied here for decades," he said in a written statement." My kids grew up skiing here."

Chapman said a top priority will be to preserve the resort's character.

Alpine spokeswoman Rachael Woods said employees are excited
about the new owners.

"They're very enthusiastic about the mountain," Woods said Monday. "And we're just excited to see what their plans are going to be."

(Copyright 2007 by The Associated Press. All Rights Reserved.)