Denver, Colorado, September 27, 2016 – KSL Capital Partners, LLC announced that certain of its affiliates (“KSL”) have entered into a definitive agreement to sell an aggregate of 2,727,750 common shares of Whistler Blackcomb Holdings Inc. (“Whistler Blackcomb”) in private transactions for CAD$36.38 per common share (or CAD$99.2 million in aggregate) representing approximately 7.1% of Whistler Blackcomb’s issued and outstanding common shares. Following completion of the transaction, KSL will continue to exercise control or direction over 6,364,750 common shares or 16.7% of Whistler Blackcomb’s issued and outstanding common shares.

On August 5, 2016, Vail Resorts, Inc. (“Vail Resorts”) and Whistler Blackcomb announced that they had entered into a strategic business combination joining Whistler Blackcomb with Vail Resorts (the “Vail Transaction”). Under the Vail Transaction, subject to the conditions set out therein, Vail Resorts would acquire 100 percent of the stock of Whistler Blackcomb, whose shareholders would receive per share CAD$17.50 in cash and 0.0998 shares of Vail Resorts common stock, subject to a currency exchange rate adjustment, as described in the Management Information Circular of Whistler Blackcomb dated August 31, 2016.

KSL entered into a support and voting agreement with Vail Resorts in respect of the Vail Transaction on August 8, 2016, which agreement remains in effect.  KSL continues to be shareholder of record in respect of 9,092,500 common shares of Whistler Blackcomb in respect of the special meeting of Whistler Blackcomb’s shareholders scheduled for October 5, 2016 and KSL has submitted its proxy in favor of the Vail Transaction. KSL believes the strategic combination of North America’s premier four-season mountain resort with the leading global mountain resort operator will result in additional geographic diversity, increased marketing exposure and guest relationships, and greater financial resources to complete Whistler’s ambitious growth plans. Eric Resnick and Peter McDermott, both of KSL, continue to serve on Whistler Blackcomb’s board of directors.  KSL does not intend to sell any additional common shares prior to the conclusion of the Vail Transaction.

An amended report regarding KSL’s holding in Whistler Blackcomb will be filed on SEDAR and will be available under Whistler Blackcomb’s profile at www.sedar.com or by request in writing to KSL Capital Partners, LLC, 100 St. Paul Street, Suite 800, Denver CO 80206.

ABOUT KSL CAPITAL PARTNERS, LLC‍

KSL is a private equity firm specializing in travel and leisure enterprises in five primary sectors: hospitality, recreation, clubs, real estate and travel services. KSL has offices in Denver, CO; Stamford, CT; and London. Since 2005, KSL has raised approximately $7.4 billion in equity capital commitments. KSL’s current portfolio includes some of the premier properties in travel and leisure. In the United States, KSL owns the Miraval Group, the owner and operator of luxury spa and wellness properties, and the Monarch Beach Resort in Dana Point, California. KSL also owns premier recreation businesses, including Ross Aviation, which focuses on serving private aircraft at fixed based operations locations at major national and regional airports, iFly Indoor Skydiving, the world’s leading operator of indoor skydiving facilities, Squaw Valley Alpine Meadows, one of the leading ski resorts in North America, WellBiz Brands, one of the largest health and wellness franchise organizations in the United States. In the United Kingdom, KSL owns Cameron House on Loch Lomond, The Belfry in the West Midlands and Village Hotel Club, which owns and operates a portfolio of 28 hotels throughout the United Kingdom. For more information, please visit www.kslcapital.com.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This press release may contain forward-looking statements or information, within the meaning of applicable Canadian securities laws, including, but not limited to, statements with respect to the transactions disclosed herein and the Vail Transaction and other information or statements about future events or conditions which may prove to be incorrect. Any forward-looking statements and information are made as of the date of this press release, and KSL has no intention and assumes no obligation to update or revise any forward-looking statements or information to reflect new events or circumstances, except as required by applicable Canadian securities laws.

The head office of Whistler Blackcomb Holdings Inc. is:
4545 Blackcomb Way
Whistler, B.C. VON 1B4