Today we entered into a merger agreement to acquire Peak Resorts Inc., owner of 17 ski areas across seven states throughout the United States, 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
- Paoli Peaks in Indiana
Please see today's press release for more details on the agreement.
This is truly a momentous day for our Company as we add ski areas that complement our existing network of resorts so well. We are significantly enhancing the experience for our guests in the Northeast and are building stronger regional connections in the Mid-Atlantic and the Midwest.
We are embracing our philosophy of Epic for Everyone by investing in local ski areas with close proximity to the key urban markets of New York, Boston, Washington, D.C., Baltimore, Philadelphia, Cleveland, Columbus, St. Louis, Kansas City and Louisville. We believe we will grow the sport and provide stability for our company and our industry by providing an opportunity for guests to ski close to home and at world-class destination resorts, all on one pass.
Subject to regulatory review and Peak Resorts’ shareholder approval, we expect to close in the fall. We will work with the local leadership teams to determine the best long-term structure for successful resort operations in alignment with the overall Vail Resorts organization, and we plan to complete a full assessment to determine our integration approach and how those plans should be phased over time.
This is a significant milestone for our Company as we strengthen the geographic diversity of our network and continue to expand access to our sport. We are looking forward to welcoming our new colleagues into the Vail Resorts family and working together to create the Experience of a Lifetime for our employees and guests.