The Australian is reporting that the Perisher resort has been sold to the US-based Vail Resorts conglomerate.

Crown casino chief James Packer and another private company have sold the Snowy Mountains’ Perisher Ski Resort to America’s Vail Resorts for $176.6m.

The sale, by Packer subsidiary Murray Publishers and Transfield Corporate, includes the resort areas Perisher Valley, Smiggin Holes, Blue Cow and Guthega, along with ski school, lodging, food and beverage, retail, rental and transportation operations, the New York stock exchange-listed Vail said.

The deal will need approval from the NSW government.

Perisher, Australia’s largest ski resort, holds a long-term lease and licence with the NSW government under the National Parks and Wildlife Act, which expires in 2048 with a 20-year renewal option. Mr Packer’s private company, Consolidated Press Holdings, inherited 75 per cent of Perisher in 1972 when it acquired Perisher Smiggins and the Perisher Hotel through its purchase of Murray Publishers.

Full article here.