Vail Resorts, Inc. closes deal on purchase of 17 new resorts, including Ski Roundtop
YORK COUNTY — Roundtop Mountain is one of 17 ski areas acquired by Vail Resorts, Inc., in a sale that was announced Tuesday via press release.
Roundtop, located in Lewisberry, York County, joins Pennsylvania resorts Liberty Mountain, Whitetail Resort, Jack Frost, and Big Boulder as a part of the new acquisition.
The other resorts are Mount Snow in Vermont; Hunter Mountain in New York; Attitash Mountain Resort, Wildcat Mountain, and Crotched Mountain in New Hampshire; Alpine Valley, Boston Mills, Brandywine and Mad River Mountain in Ohio; Hidden Valley and Snow Creek in Missouri; and Paoli Peaks in Indiana.
Vail Resorts, Inc. has 37 resorts worldwide in its network. The company said it closed on the 17 new resorts for a purchase price of $11 per share.
“We are thrilled that with this acquisition, skiers and riders living in and around some of the biggest cities in the country will now have access to both ski close to home and at renowned mountain resorts around the world – with just one pass,” said Rob Katz, chairman and chief executive officer of Vail Resorts. “We are excited to welcome each of these ski areas into the Vail Resorts family and to continue to invest in what makes them unique.”
The 2019-20 Epic Pass, Epic Local Pass, Epic Australia Pass and Military Epic Pass now include unlimited and unrestricted access to each of the 17 ski areas, in addition to the access provided to some of the world’s most well-known resorts including Vail, Whistler Blackcomb, Park City and Breckenridge, the company said in the release announcing the deal.
Guests with an Epic Day Pass are also able to access these 17 ski areas as a part of the total number of days purchased. For the 2019-20 season, Vail Resorts will honor all Peak Resorts pass products and continue to sell them through the fall. Current Peak Resorts’ pass holders now have the option to upgrade to an Epic Pass or Epic Local Pass.
Vail Resorts said it plans to invest approximately $15 million over the next two years in one-time capital spending to elevate the guest experience at its new resorts. Additionally, the Company’s annual ongoing capital expenditures are expected to increase by approximately $10 million to support the addition of the new ski areas, the company said in the announcement.
Credit: KEITH SCHWEIGERT