Vail Resorts Completes Acquisition of Seven Springs Mountain Resort, Hidden Valley Resort and Laurel Mountain Ski Area in Pittsburgh Area
BROOMFIELD, Col., December 31, 2021 / CNW / – Vail Resorts, Inc. (NYSE: MTN) announced today that the company has completed its acquisition of Seven Springs Mountain Resort, Hidden Valley Resort and Laurel Mountain Ski Area in Pennsylvania. The Company purchased the resorts, including ski areas, a hotel, conference center and other related activities, from Seven Springs Mountain Resort, Inc. and its affiliates for a final purchase price of ‘about $ 118 million, including customary closing purchase price adjustments. Seven sources, Hidden valley and Laurier Mountain join the Vail Resorts network which now numbers 40 resorts worldwide.
The operations of the three stations for the 2021-22 winter season will continue in the normal course of business. Vail Resorts plans to add access to all three resorts to select Epic Pass products for the 2022-2023 North American ski and hiking season. This will provide a regional destination for Epic pass holders in Pittsburgh as well as those from other critical markets such as Washington DC, Baltimore and Cleveland, who will be able to ski at more resorts near their home – and visit world-class mountains to the west – all with one pass.
Seven Springs is Pennsylvania’s first four-season family resort. It is located one hour southeast of Pittsburgh and is one of Pennsylvania’s largest ski resorts with 285 skiable acres and 750 vertical feet. In addition to skiing and snowboarding, Seven Springs offers important resort amenities including a 418-room hotel, conference center, full-service spa, and tubing. Hidden Valley offers 110 skiable acres and 470 vertical feet, with 26 trails and trails and two snow parks. Laurel Mountain offers 70 skiable acres and 761 vertical feet.
Vail Resorts has acquired all assets related to the resort’s mountain operations and base area accommodations, conference center and related equipment. Vail Resorts, subject to the consent of the Commonwealth of Pennsylvania, assume the state land lease for Laurier Mountain.
About Vail Resorts, Inc. (NYSE: MTN)
Vail Resorts, Inc., through its subsidiaries, is the world’s leading operator of hill stations. Vail Resorts subsidiaries currently operate 40 mountain resorts and regional ski areas, including Vail, Beaver Creek, Breckenridge, Keystone and Crested Butte in Colorado; Park City in Utah; Heavenly, Northstar and Kirkwood in the Lake Tahoe region of California and Nevada; Whistler Blackcomb in British Columbia, Canada; Perisher, Falls Creek and Hotham in Australia; Stowe, Mount Snow, Okemo in Vermont; Hunter Mountain in New York; Mount Sunapee, Attitash, Wildcat and Crotched in New Hampshire; Col Stevens in Washington; Seven sources, Hidden valley, Laurier Mountain, Freedom, Roundtop, Whitetail, Jack Frost and Big Boulder in Pennsylvania; Alpine Valley, Boston Mills, Brandywine and Mad River at Ohio; Hidden valley and Snow Creek at Missouri; Wilmot in Wisconsin; the Afton Alps in Minnesota; Mount Brighton in Michigan; and Paoli Peaks in Indiana. Vail Resorts owns and / or operates a collection of stylish and casual hotels under the Rock Resorts brand, as well as the Grand Teton Lodge Company in Jackson Hole, Wyo. Vail Resorts Development Company is the real estate planning and development subsidiary of Vail Resorts, Inc. Vail Resorts is a publicly traded company listed on the New York Stock Exchange (NYSE: MTN). The Vail Resorts website is www.vailresorts.com and the consumer website is www.neige.com.
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SOURCE Vail Resorts, Inc.
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