10 Dec Vail Acquires 3 More US Ski Resorts
Vail Resorts has entered into an agreement to purchase Seven Springs Mountain Resort in Pennsylvania.
As a part of the acquisition, Vail Resorts will also acquire Hidden Valley Resort and the operations of Laurel Mountain Ski Area.
The purchase price for the ski areas, plus a hotel, conference centre and other related operations, is approximately $125 million, subject to certain adjustments.
“We are incredibly excited to have the opportunity to add Seven Springs to our family of resorts along with Hidden Valley and Laurel Mountain,” said Kirsten Lynch, chief executive of Vail Resorts.
“As a company, we have been focused on acquiring resorts near major metropolitan areas as we know many skiers and riders build their passion for the sport close to home.
“These great ski areas in Pennsylvania are a perfect complement to our existing resorts, creating a much stronger connection and compelling offering to our current and future guests in Pittsburgh as well as those in other critical markets such as Washington, DC, Baltimore and Cleveland.”
Seven Springs is Pennsylvania’s premier four-season family resort.
It is located one hour southeast of Pittsburgh and is among the largest ski resorts in Pennsylvania with 285 skiable acres and 750 vertical feet.
In addition to skiing and snowboarding, Seven Springs offers significant resort amenities, including a 418-room hotel, conference centre, a full-service spa and tubing.
Hidden Valley offers 110 skiable acres and 470 vertical feet, with 26 slopes and trails and two terrain parks.
Laurel Mountain offers 70 skiable acres and 761 vertical feet.