Vail finalizes acquisition of Peak Resorts
Vail Resorts has closed its acquisition of Peak Resorts Inc., that adds 17 ski areas in the United States to the company’s portfolio that now has 37 worldwide.
Vail announced Tuesday morning that it closed the deal for a purchase price of $11 per share.
“We are thrilled that with this acquisition, skiers and riders living in and around some of the biggest cities in the country will now have access to both ski close to home and at renowned mountain resorts around the world – with just one pass,” said Rob Katz, chairman and chief executive officer of Vail Resorts in a press release. “We are excited to welcome each of these ski areas into the Vail Resorts family and to continue to invest in what makes them unique.”
Joining the Vail family is Mount Snow, Hunter Mountain, Attitash Mountain Resort, Wildcat Mountain and Crotched Mountain in the Northeast. In the Mid-Atlantic, Liberty Mountain Resort, Roundtop Mountain Resort, Whitetail Resort, Jack Frost and Big Boulder are joining Vail.
Vail also acquired Alpine Valley, Boston Mills, Brandywine, Mad River Mountain, Hidden Valley, Snow Creek and Paoli Peaks in the Midwest.
In the next two years, the company plans to invest about $15 million in one-time capital expenses, and annual expenses will increase by about $10 million to accommodate the new resorts.
For more information, visit http://www.vailresorts.com/Corp/index.aspx.
Prices increase Oct. 13
New for the 2019-20 season, Vail Resorts has launched the Epic Day Pass allowing guests to ski Vail’s resorts for up to 50% off of lift ticket window prices. Starting at as little as $109 for one day of skiing at any of Vail Resorts’ North American resorts. The Epic Day Pass is tailored for those skiers and riders who may not need the unlimited skiing offered by traditional season passes. Guests can lower their cost per day by adding more days and selecting the number of days they plan to ski or ride – from one day to seven days – and whether or not to add holiday access.
For guests looking to ski more days in a season, the Epic Pass and Epic Local Pass continue to offer the best value and variety for unlimited skiing and riding. Currently available at $969 for the 2019-20 winter season, the Epic Pass provides unlimited, unrestricted access to all of Vail Resorts’ owned and operated resorts. For skiers and riders willing to navigate around a few peak dates, the Epic Local Pass offers access to many of the same destinations, starting at $719. The entire lineup of Epic Pass options, including the Tahoe Local Pass and Tahoe Value Pass, are on sale now at epicpass.com.
The Tahoe Daily Tribune is a sister publication of the Sierra Sun.
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