Vail Resorts Inc. of Bloomfield, Colorado, said it closed on its acquisition of Peak Resorts Inc. for a purchase price of $11 per share. With this acquisition, Vail Resorts added 17 U.S. ski areas to its network, including five in Pennsylvania.
In Pennsylvania, the acquired resorts are Jack Frost Ski Resort in Kidder Township, Carbon County; Big Boulder in Lake Harmony, Carbon County; Whitetail Resort in Mercersburg, Franklin County; Liberty Mountain Resort in Fairfield, Adams County; and Roundtop Mountain Resort in Lewisberry, York County.
Following the closing, Vail Resorts said it plans to invest about $15 million over the next two years in one-time capital spending to elevate the guest experience at these resorts. Additionally, the investment will increase the company’s annual ongoing capital expenditures by about $10 million to support the addition of the new ski areas.
“As the new owner of these ski areas, we are looking forward to spending the next few months learning more about each resort and what makes them unique,” said Margo Van Ness, spokesperson for Vail Resorts, in a statement. “Our first goal is to review and learn more about the specific operations at each resort to determine which capital projects will provide the greatest benefit to guests. On an ongoing basis, we will include the Peak Resorts ski areas, along with all of our other resorts, in our annual assessment of capital projects.”