Vail Resorts to Acquire Peak Resorts
Peak Resorts’ 17 ski areas are about to get an Epic makeover
On July 22nd, Vail Resorts announced it is en route to acquire 100% of the outstanding stock of Peak Resorts. This merger will include 17 U.S. ski areas sprinkled throughout New England, the Mid-Atlantic and the Midwest.
According to the press release that hit the internet this morning, the aggregate purchase price for all Peak Resorts common stock is estimated to be approximately $264 million (calculated on a treasury method basis), which Vail Resorts intends to finance through a combination of cash on hand, its existing revolver facility and an expansion of its existing credit facility. In addition, Vail Resorts will be assuming or refinancing Peak Resorts’ outstanding debt.
- Mount Snow in Vermont
- Hunter Mountain in New York
- Attitash Mountain Resort, Wildcat Mountain and Crotched Mountain in New Hampshire
- Liberty Mountain Resort, Roundtop Mountain Resort, Whitetail Resort, Jack Frost and Big Boulder in Pennsylvania
- Alpine Valley, Boston Mills, Brandywine and Mad River Mountain in Ohio
- Hidden Valley and Snow Creek in Missouri
- Paoli Peaks in Indiana
“We are incredibly excited to have the opportunity to add such a powerful network of ski areas to our Company,” said Rob Katz, chairman and chief executive officer of Vail Resorts.
“Peak Resorts’ ski areas in the Northeast are a perfect complement to our existing resorts and together will provide a very compelling offering to our guests in New York and Boston,” Katz continues.
Ok, but what about the Peak Pass?
For the 2019-20 season, Vail Resorts will honor and continue to sell all Peak Resorts pass products. Peak Resorts’ pass holders will also have the option to upgrade to an Epic Pass or Epic Local Pass after the transaction closes.
Upon closing, the 2019-20 Epic Pass, Epic Local Pass and Military Epic Pass will include unlimited and unrestricted access to the 17 Peak Resorts ski areas.
Guests with an Epic Day Pass will also be able to access the new ski areas as a part of the total number of days purchased.
Get more detailed information on pass products available as well as the merger in general here.
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