 |
| Company type | Public |
|---|---|
| Nasdaq: SKIS Russell Microcap Index component | |
| Website | https://www.peakresorts.com/ |
Peak Resorts was a publicly traded company based in Wildwood, Missouri that operated ski resorts in the Midwest, Mid-Atlantic and Northeast portions of the United States. It was bought by Vail Resorts in 2019.
The company was founded in 1977 by Tim Boyd two years after graduating the University of Missouri when he bought the Wildwood Golf Course in Wildwood, Missouri, for $250,000 with owner financing. In 1982, he added a ski resort that would become Hidden Valley Ski Area. Shortly thereafter, he opened a ski-resort in suburban Kansas City, Missouri, at Weston, Missouri (Snow Creek Ski Resort). [1]
The company continued to expand owning Paoli Peaks in Paoli, Indiana; Boston Mills and Brandywine in Peninsula, Ohio.
In 2002, it expanded with Crotched Mountain in Bennington, New Hampshire. In addition it had long-term leases on Jack Frost and Big Boulder ski areas in Blakeslee, Pennsylvania in the Poconos as well as Mad River Mountain in Valley Hi, Ohio. [1] [2]
In 2002, the company acquired Crotched_Mountain_Ski_&_Ride in New Hampshire, a small ski area that had been shut for more than a decade. It built a new lodge, redid trails, and opened it in 2003.
In 2007, the company nearly tripled its revenue with the acquisition of Mount Snow in Vermont and Attitash in New Hampshire from the financially troubled American Skiing (which was owned by Oak Hill Capital Partners, a private equity company). The acquisition increased Peak Resorts ski visitors from 1 million to 1.7 million and revenue of $85 million. [1] On October 21, 2010, the company announced it had entered into a purchase and sale agreement for Wildcat Mountain Ski Area in New Hampshire.
Previously privately owned, Peak Resorts shares began trading on the NASDAQ Global Market [3] on November 21, 2014, under the ticker symbol "SKIS." Its IPO saw an offering of 10,000,000 shares of its common stock at a price to the public of $9.00 per share closed 9 days later on December 1, 2014.
On November 30, 2015, the company announced its intention to purchase Hunter Mountain adding its first New York mountain. [4] The acquisition was completed on January 7, 2016, in an all-cash deal of $35 million, plus the assumption of two capital leases estimated at $1.8 million. For the 2016–17 ski season, Peak Resorts debuted the Peak Pass that linked its seven Northeast resorts.
On July 22, 2019, it was announced that Peak Resorts would be acquired by Vail Resorts, pending approvals. [5] The transaction closed on September 24, 2019. The company's common stock was delisted from Nasdaq Global Select Market at the close of trading the same day. [6]
Ski Resorts formerly owned and operated by Peak Resorts, at the height of their ownership in 2019:
East
Midwest
Vail is a home rule municipality in Eagle County, Colorado, United States. The population of the town was 4,835 in 2020. Home to Vail Ski Resort, the largest ski mountain in Colorado, the town is known for its hotels, dining, and for the numerous events the city hosts annually, such as the Vail Film Festival, Vail Resorts Snow Days, and Bravo! Vail.
The White Mountains are a mountain range covering about a quarter of the state of New Hampshire and a small portion of western Maine in the United States. They are a subrange of the northern Appalachian Mountains and the most rugged mountains in New England. Several of the higher peaks contain an Alpine tundra. The range is heavily visited due to its proximity to Boston, New York City, and Montreal.
Vail Resorts, Inc. is an American mountain resort company headquartered in Broomfield, Colorado. The company is divided into three divisions. The mountain segment owns and operates 42 mountain resorts in four countries. Vail Resorts Hospitality owns or manages hotels, lodging, condominiums, and golf courses, and the Vail Resorts Development Company oversees property development and real estate holdings.
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