Vail to buy Kirkwood Mountain Resort at Lake Tahoe

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Vail Resorts has agreed to buy Kirkwood Mountain Resort at Lake Tahoe, Calif., for about $18 million.

The deal includes residential and commercial property at the base. Kirkwood will continue to be involved in the property development.

If the deal goes through, Vail Resorts would operate three world-class mountain resorts in the Lake Tahoe region, including Heavenly Mountain Resort in South Lake Tahoe, Northstar California on the north shore and Kirkwood Mountain Resort.

Vail Resorts said Heavenly and Northstar pass holders will have access to Kirkwood and Kirkwood pass holders will be able to ski and ride Heavenly and Northstar.

Vail Resorts expects to close the deal next month, contingent on transfer of the U.S. Forest Service permit.