Midwest and Northeast Operator ‘Peak Resorts’ to Acquire Three PA Resorts in $76-Million Deal

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Credit: Peak Resorts Facebook

Peak Resorts, the Missouri based owner of 14 midwest and northeast ski resorts today announced that it will be purchasing Snow Time, owner of 3 Pennsylvanian resorts, for $76-million.

The three resorts, Liberty Mountain, Roundtop Mountain, and Whitetail resort are all within driving distance of the Baltimore-Washington D.C. area, and will immediately join the ‘Peak Pass‘ for the upcoming 2018/19 season. 

In a time where resorts are being swept up by huge, faceless corporations driven by profit, it’s great to see there are other multi-resort passes available and operators that are keen to maintain family-feel resorts.

The original 14 resorts are:

East

  • Attitash, NH
  • Big Boulder, PA
  • Crotched Mountain, NH
  • Hunter Mountain, NY
  • Jack Frost, PA
  • Mount Snow, VT
  • Wildcat Mountain Ski Area, NH

Midwest

  • Boston Mills, OH
  • Brandywine, OH
  • Hidden Valley Ski Area, MO
  • Mad River Mountain, OH (operator only)
  • Paoli Peaks, IN
  • Snow Creek, MO
  • Alpine Valley Ski Area, OH
Hunter Mountain, NY on February 20th, 2015. photo: hunter mountain
Hunter Mountain, NY. Credit: Hunter Mountain

PEAK RESORTS TO ACQUIRE SNOW TIME FOR $76 MILLION

Accretive Transaction Expands Peak’s Northeast Portfolio with the Addition of Three High-Quality Resorts

Peak Resorts, Inc, a leading owner, and operator of high-quality, individually branded US ski resorts, announced today that it has entered into a definitive agreement to acquire privately-held Snow Time for $76-million.

Snow Time owns and operates three ski resorts in Pennsylvania: Liberty Mountain Resort, Whitetail Resort and Roundtop Mountain Resort. The three resorts are within driving distance of the Baltimore-Washington D.C. market, which comprises nearly 10 million people, and welcomed more than 600,000 visitors during the 2017/2018 ski season. Snow Time’s resorts offer a combined 65 trails, more than 325 skiable acres, and an average of approximately 700 vertical feet of terrain. Snow Time also operates two 18-hole golf courses, a 115-room hotel and 22,000 square foot conference center at Liberty Mountain Resort, and more than 20 food and beverage locations across its three resorts.

“The transformative acquisition of Snow Time offers a rare opportunity for Peak Resorts to dramatically grow our company by expanding the number of destinations for our Peak Pass holders in the Northeast while growing our presence in the very attractive and densely populated markets of Baltimore and Washington, D.C.,” said Timothy D. Boyd, President and Chief Executive Officer of Peak Resorts. “Over the course of more than 50 years, Irvin Naylor and his team have established three exceptionally well cared for mountain resorts across the southern tier of Pennsylvania and we are delighted to welcome these wonderful facilities and the Snow Time team to the Peak Resorts family. Furthermore, we expect the addition of these turn-key resorts to our portfolio ahead of the 2018/2019 ski season will result in immediate financial benefits for Peak Resorts.

“Since introducing the Peak Pass in 2015, Peak Resorts has consistently sought to ensure that our unlimited pass offerings for all ages provide unmatched value, particularly as many of our customers live within driving distance of our resorts and visit us frequently throughout the season. We believe the broad array of four-season amenities offered by the Snow Time resorts will be additive to our existing summer business in the Northeast, while the full slate of winter activities available to visitors at Liberty, Roundtop and Whitetail will help to enhance the value of the Peak Pass. By adding these new mountain destinations to our Peak Pass portfolio, we can drive additional value for our most loyal customers. In addition, all three mountains greatly expand our night skiing capabilities, further extending the fun for all visitors and providing a highly sought-after differentiating factor. Importantly, season pass holders at Liberty, Roundtop and Whitetail who have already made the decision to purchase or renew their season passes for the 2018/2019 ski season will have the ability to upgrade to the Peak Pass and enjoy all 10 of our Northeast resorts. We expect to provide these customers with more details, including pricing options, in the coming weeks.”

Irvin S. Naylor, Founder, and Chairman of Snow Time added:

“I am extremely pleased to pass along the stewardship of Snow Time and our three mountain resorts to Peak Resorts. Having watched the progress they continue to make at the formerly family-owned Hunter Mountain, I view Peak Resorts as the perfect operators to take Liberty, Roundtop and Whitetail to the next level. For more than 50 years, my team and I have grown these three resorts into the magnificent properties they are today and we are delighted that Peak Resorts will continue to grow their appeal for the next generation and beyond.”

About the Resorts

Liberty Mountain Resort, PA offers 22 trails and three terrain parks spread across 100 skiable acres and 620 vertical feet of terrain serviced by nine lifts and full snowmaking coverage, and offers night skiing and tubing, along with a full suite of amenities, including a 115-room hotel and 18-hole golf course. Nestled near the scenic Catoctin Mountains on 400 beautiful acres, Liberty Mountain is located approximately 55 miles from Harrisburg,70 miles from Baltimore and 90 miles from Washington D.C.

Roundtop Mountain Resort, PA offers 20 trails and two terrain parks spread across 100 skiable acres and 600 vertical feet of terrain serviced by eight lifts and full snowmaking coverage and offers night skiing and riding, and tubing. The resort’s Learn to Ski and Snowboard program was recently named “Best in the Country” by the National Ski Areas Association. Roundtop is located approximately 20 miles from Harrisburg, 75 miles from Baltimore, and 120 miles from Washington D.C.

Whitetail Resort, PA offers 23 trails, two terrain parks and a half pipe spread across 125 skiable acres and 935 vertical feet of terrain serviced by nine lifts with full snowmaking coverage, as well as night skiing and riding, tubing and summer amenities, including an 18-hole golf course. Whitetail’s beginner programs were recognized as the best in the country by the National Ski Areas Association during the 2010/2011 winter season. Whitetail is located approximately 90 miles from Washington D.C. and 95 miles from Baltimore.

About Peak Resorts

Headquartered in Missouri, Peak Resorts is a leading owner and operator of high-quality, individually branded ski resorts in the US. The company operates 14 ski resorts primarily located in the Northeast and Midwest, 13 of which are company owned.

The majority of the resorts are located within 100 miles of major metropolitan markets, including New York City, Boston, Philadelphia, Cleveland and St. Louis, enabling day and overnight drive accessibility. The resorts under the company’s umbrella offer a breadth of activities, services, and amenities, including skiing, snowboarding, terrain parks, tubing, dining, lodging, equipment rentals and sales, ski and snowboard instruction and mountain biking and other summer activities.


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