Big Bear Mountain Resorts, which includes Snow Summit and Bear Mountain announced Wednesday it has signed a $38 million agreement to be bought out by the owner of Mammoth Mountain, pending approval from stockholders.
The Mammoth powerhouse will soon control 4,000 acres of skiable land and serve two million annual visitors.
The sale comes amid California’s severe drought, which has hampered the ski industry.
Big Bear Mountain Resorts spokesman Chris Riddle said last winter’s record low snow levels led to a 14 percent decline in visitors.
“Our attendance generally follows snowfall patterns,” Riddle said. “So while we still had generally good conditions all year long because of the snow-making conditions, when it doesn’t snow naturally a lot we do see a dip in attendance.”
Riddle said the sale will allow Big Bear Resorts the opportunity for developments and expansions. "And some synergistic type of products that we can bring to the public to enhance skier and snowboarder visits,” Riddle said.
Mammoth Mountain plans to begin this weekend selling an annual pass that gives snow enthusiasts unlimited access to Mammoth Mountain and June Mountain, plus Bear Mountain and Snow Summit, for $689.
