Vail Resorts Agrees to Purchase Several Pennsylvania Ski Resorts
Vail Resorts announced it has entered into an agreement to purchase Seven Springs Mountain Resort in Pennsylvania.
As a part of the acquisition, Vail Resorts will also acquire Hidden Valley Resort and the operations of Laurel Mountain Ski Area. The purchase price for the ski areas, a hotel, conference center and other related sites is approximately $125 million, subject to certain adjustments.
Located southeast of Pittsburgh, Seven Springs boasts 285 skiable acres and 750 vertical feet, as well as a 418-room hotel, conference center, a full-service spa and tubing. Hidden Valley offers 110 skiable acres and 470 vertical feet, with 26 slopes and trails and two terrain parks, while Laurel Mountain offers 70 skiable acres and 761 vertical feet.
“We are incredibly excited to have the opportunity to add Seven Springs to our family of resorts along with Hidden Valley and Laurel Mountain,” Vail Resorts CEO Kirsten Lynch said. “As a company, we have been focused on acquiring resorts near major metropolitan areas as we know many skiers and riders build their passion for the sport close to home.”
“These great ski areas in Pennsylvania are a perfect complement to our existing resorts, creating a much stronger connection and compelling offering to our current and future guests in Pittsburgh as well as those in other critical markets such as Washington, D.C., Baltimore and Cleveland,” Lynch continued.
While Vail Resorts is acquiring all of the assets related to the mountain operations of the resorts, Seven Springs Mountain Resort, Inc. is retaining select neighboring functions, including Highlands Market, Sporting Clays at Seven Springs, Seven Springs Golf Course and Hidden Valley Golf Club and more.
The transaction is expected to close this winter, but operations at the three resorts for the 2021-22 winter season will continue in the ordinary course of business. Vail Resorts plans to add access to the three resorts to select Epic Pass products for the 2022-23 North American ski and ride season.