Vail Resorts announced today its plans to purchase Peak Resorts, a group of 17 ski areas that includes Mount Snow in southern Vermont.
The acquisitions include Mount Snow, Hunter Mountain in New York, three resorts in New Hampshire (Attitash, Wildcat and Crotched) five in Pennsylvania (Liberty, Roundtop, Whitetail, Jack Frost and Big Boulder), four in Ohio (Alpine Valley, Boston Mills, Brandywine and Mad River), two in Missouri (Hidden Valley and Snow Creek) and Paoli Peaks in Indiana.
With Mount Snow, Vail Resorts will own three properties in Vermont. The ski industry giant bought Okemo Mountain in Ludlow last year and Stowe Mountain Resort in 2017.
The Denver Post reports Vail will be acquiring all of Peak Resorts’ outstanding stock at $11 per share with an aggregate purchase price of about $264 million. The sale is subject to regulatory review and shareholder approval. The sale is expected to close this fall.
The resorts are expected to be under the huge umbrella of the Epic Pass season pass program for the coming winter. By adding 17 ski areas to its portfolio, Vail will own an incredible 34 resorts across the United States.
In a press release Vail Resorts said that once the deal is finalized, it will invest $15 million over the next two years to “elevate the guest experience” at the resorts.
Molly Mahar, president of the Vermont Ski Areas Association, told Vermont Public Radio, "I think overall Vail is pretty progressive when it comes to marketing their resorts so I think we would see more skiers coming to Vermont.”
Vail said "synergies" will come from "the elimination of certain duplicative administrative functions and greater efficiencies brought by Vail Resorts’ size and scale."
Reaction on social media
Vermont's Mad River Glen was quick to point out this morning that the Mad River ski area that is part of the sale is not the Mad River ski area in the Green Mountain State. The ski area's Facebook post included: "We have always marched to the beat of our own drum and look forward to making our own music for years to come."
Magic Mountain in southern Vermont tweeted: "Does Vermont really want more if its east coast skiers headed West spending loads of money at Vail properties, hotels, restaurants when there is great skiing & nightlife right here? (Asking for a friend) #skitheeast#skivt#skilocal"
Sugarbush in northern Vermont tweeted: "Proudly independent. 60 years and counting."