Vail closes on deal to add 17 new ski areas to portfolio

BROOMFIELD — Vail Resorts Inc. (NYSE: MTN) announced Tuesday it had completed its acquisition of Wildwood, Missouri-based Peak Resorts Inc. (NASDAQ: SKIS). The deal brings 17 new ski areas into Vail’s resort portfolio.

Under the terms of the acquisition, first agreed upon in July, Vail has purchased Peak for $11 per share. The total value of the deal is approximately $264 million. 

The following Peak ski areas, many located near major metropolitan areas, are now owned and operated by Vail:

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• 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

With the addition of the new ski areas, Vail now operates a total of 37 resorts worldwide.

“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,” Vail CEO Rob Katz said in a prepared statement. “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.”

Vail is scheduled to report its 2019 fiscal year earnings after market close Thursday. The firm posted net income was $292.1 million during the third quarter, compared revenues of $256.3 million for the same period last year.