- Sunshine Village seeks to replace Angel Express by 2024, manufacturer TBD.
- Bromont’s outgoing Versant des Épinettes quad will get a second life at Mont Rigaud.
- Mont-Sainte-Anne reopens without its gondola. The FIS postpones a February World Cup event there.
- Whitefish won’t operate Bad Rock this winter.
- A child falls from a lift at Whitetail.
- A Park City guest is charged with assault for a mid-ride fight on the Saddleback Express.
- A snowboarder falling down a T-Bar line sends four other riders to the hospital in Europe.
- Blue Mountain, Pennsylvania will open the Main Street Express tomorrow.
- Utah Olympic Park and Doppelmayr near the finish line on the West Peak expansion.
- Ditto for Leitner-Poma and Vail on the Sun Down Express.
- Chairs go on Sunnyside at Alta.
- Boyne Resorts looks looks to hire an internal Lift Construction Director.
- The proposed Los Angeles gondola scores a courtroom victory.
- The operator of the Goldbelt Tram agrees to fund $10 million of the Eaglecrest Gondola.
- Granite Peak celebrates expansion approval.
- Mountain Capital Partners acquires a majority stake in Valle Nevado, Chile.
- Silverton Mountain seeks approval for two more chairlifts (pages 63-67).
- Vail Resorts announces a big new lift for Perisher, Australia.
Peak Resorts to Buy Three Pennsylvania Mountains
Liberty Mountain, Roundtop Mountain and Whitetail Resort will join Peak Resorts before the end of the year, the companies announced this morning. Privately-held Snow Time Inc. operates the three southern Pennsylvania properties, which generated approximately $11 million in EBITDA last year with more than 600,000 skier visits. Peak Resorts (SKIS) is traded on the Nasdaq and currently runs 14 mountain resorts in Indiana, Missouri, New Hampshire, New York, Ohio, Pennsylvania and Vermont. The $76 million cash and stock deal represents a multiple of approximately 6.8 times earnings and is expected to close prior to the beginning of the 2018-19 ski season. Liberty, Roundtop and Whitetail operate a combined 18 lifts, almost all of them built by Doppelmayr and CTEC.
“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 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.” The new, larger Peak will total 17 mountains with 109 aerial lifts upon closing.