Another week, another powerplay by the ski resort conglomerate of Vail Resorts. For the aggregate purchase price of $264 million, Vail Resorts has acquired Peak Resorts, the parent company of 17 resorts including:
- 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; and
- Paoli Peaks in Indiana.
While many of the resorts are small scale, their location near major city centres makes them popular getaways for outdoor enthusiasts in New York, Washington D.C., and more.
“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.
The jury is still out on whether the conglomeration of ski resorts across the world will be a good thing for the industry—but we’ll have to sit back and wait for things to play out before we make the final call. —ML