 |
| 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 the suburban St. Louis, Missouri, community of 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 it bought 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 owned and/or operated by Peak Resorts as of July 22, 2019 with year opened or acquired:
East
Midwest
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 part of the northern Appalachian Mountains and the most rugged mountains in New England. 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 40 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.
Canyons Resort was one of three alpine ski resorts located in Park City, Utah. Prior to 2015, there were 19 chairlifts, 4,000 acres of skiable terrain and an average of 355 inches (9,000 mm) of snow each winter, making Canyons the largest ski and snowboard resort in Utah. The base area is located 32 miles (51 km) from the Salt Lake City International Airport, accessed via Interstate 80, and is four miles (7 km) from Main Street in Park City, along State Route 224.
American Skiing Company was one of the largest operators of alpine ski, snowboard and golf resorts in the United States. Its resorts included Sunday River and Sugarloaf, in Maine, The Canyons in Utah, Killington, Mount Snow, Haystack, Heavenly and Steamboat. In the early 2000s, the company sold all assets and shut down in 2007.
Lift accessed mountain biking or Mountain bike park is a summer activity that is spreading all over the world. Using the chairlifts or gondola lifts at a ski area, mountain bikers can get up to higher altitudes quickly. The bikers don't have to ride up, and the ski area operators can keep the hill more profitable during the summer. Most bike parks have a mix of dirtjumping, downhill, enduro and freeride terrain on the trails.
Mount Snow is a mountain and ski resort in southern Vermont located in the Green Mountains. It is Vermont's southernmost big mountain, and therefore, closest to many Northeast metropolitan areas.
Park City Mountain Resort (PCMR) is a ski resort in the western United States in Park City, Utah, located 32 miles (51 km) east of Salt Lake City. Park City, as the ski resort and area is known, contains several training courses for the U.S. Ski Team, including slalom and giant slalom runs. During the 2002 Winter Olympics, it hosted the snowboarding events and the men's and women's alpine giant slalom events.
Hunter Mountain is a ski resort located in Greene County, New York about three hours northwest of New York City in the town of Hunter, New York. It features a 1,600-foot (488 m) vertical drop.
Vail Ski Resort is a ski resort in the western United States, located near the town of Vail in Eagle County, Colorado. At 5,289 acres, it is the third-largest single-mountain ski resort in the U.S., behind Big Sky and Park City, featuring seven bowls and intermediate gladed terrain in Blue Sky Basin.
Whitetail Mountain Resort is a four-season resort located on Two Top Mountain, a mountain in the Bear Pond Mountains of Pennsylvania. The resort opened for skiing in 1991, and was acquired a few years later by Snow Time, Inc., the company which also manages Liberty Mountain Resort and Ski Roundtop. All three resorts were then acquired by Peak Resorts in 2018. Peak Resorts was then acquired by Vail Resorts in 2019.
Wildcat Mountain Ski Area is a ski area located on Wildcat Mountain near Jackson, New Hampshire, United States, in the Mount Washington Valley. Its vertical drop of 2,112 feet (644 m) is the second largest in New Hampshire and the ninth largest in New England.
Liberty Mountain Resort is a resort located in southern Pennsylvania. During the winter months the resort offers skiing, snowboarding, and snow tubing. The onsite hotel and lodge is open year-round and offers 114 rooms and multiple options for weddings and meetings. During the spring, summer, and fall the 18 hole Carroll Valley Golf Course at Liberty Mountain is open for a round of golf.
Mad River Mountain is a ski and snowboard resort in Valley Hi, Ohio, United States. The elevation of Mad River Mountain is 1,460 feet (450 m) with a vertical drop of 300 ft (91 m), and it has a ski season that runs from approximately mid-December through mid-March. The resort, which opened in 1962 as Valley Hi Ski Area, is owned and operated by Vail Resorts, who bought the resort from Peak Resorts in 2019.
Attitash Mountain Resort is a ski area located on U.S. Route 302 in Bartlett, New Hampshire, near North Conway. Constructed in 1938 by the Works Progress Administration, as of October 2019, Attitash is operated by Vail Resorts. It operates under a special-use permit with the White Mountain National Forest.
Hidden Valley Ski Area is a ski resort in the St. Louis, Missouri suburb of Wildwood, Missouri.
Boston Mills/Brandywine Ski Resorts are a pair of sister ski resorts, owned by Vail Resorts, in Northeastern Ohio.
Crotched Mountain Ski & Ride is a medium-sized ski area located on Crotched Mountain in Bennington and Francestown, New Hampshire. The ski area reopened in 2003 after having been closed for 13 years. Crotched Mountain is 30 miles (48 km) east of Keene, 26 miles (42 km) west of Manchester, and 77 miles (124 km) northwest of Boston.
The Roundtop Mountain Resort is a resort located in Pennsylvania. During the winter months the resort offers skiing, snowboarding, and snowtubing. During the spring, summer, and fall, Roundtop offers zip lines, a ropes course, OGO Balls, and year-round paintball.
Alterra Mountain Company is an American hospitality company established in 2018 with headquarters in Denver, Colorado. It is privately owned by KSL Capital Partners and Henry Crown and Company, the owners of Aspen/Snowmass. It is a conglomerate of several ski resorts that offers a combined season pass.