Liftopia Acquired, Plans to Continue Operations for the Long Term
According to an email sent out by their CEO, Liftopia has been acquired and will receive funding to operate for the long term. As part of the acquisition, the lift ticket site will receive funds to settle with any partners with whom they are not in good standing. This news comes months after reports surfaced that the company was facing bankruptcy after failing to pay more than $3 million in fees to Alterra, Aspen Skiing Company, Arapahoe Basin, and others. As of now, the acquiring entity is unknown.
Our Take
Over the past 15 years, Liftopia has made a name for itself selling heavily discounted online lift tickets. For advanced-sale tickets to some independent mountains, the site is the only game in town. At a glance, it looks like this acquisition will enable these critical services to continue for the foreseeable future.
Liftopia has faced serious pressure from mega-passes such as Epic and Ikon in recent seasons, which offer similar or better value propositions for very frequent skiers. We don’t know who’s acquiring Liftopia at this point, but the new owners will have a substantial say in the site’s approach in the coming years.
A number of consumers rely on Liftopia for cheap day tickets, and many smaller resorts rely heavily on the site for ticket revenue. Hopefully, the new owners will allow the site to maintain an independent focus.
