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JFBB is going to be EPIC!

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Peak Resorts is being purchased by Vail. They are officially going to be on the EPIC pass.

https://finance.yahoo.com/news/vail-resorts-acquire-peak-resorts-110000429.html

BROOMFIELD, Colo., July 22, 2019 /PRNewswire/ -- Vail Resorts, Inc. (MTN) today announced it has entered into a definitive merger agreement to acquire 100 percent of the outstanding stock of Peak Resorts, Inc. (SKIS) at a purchase price of $11.00 per share, subject to certain conditions, including regulatory review and Peak Resorts' shareholder approval.

Photo Credit: Brett Miller, Peak Resorts, Mount Snow
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Through the acquisition, Vail Resorts will add 17 U.S. ski areas to its network of world-class resorts. Located near major metropolitan areas, including New York, Boston, Washington, D.C., Baltimore, Philadelphia, Cleveland, Columbus, St. Louis, Kansas Cityand Louisville, the resorts include:

  • Mount Snow in Vermont
  • Hunter Mountain in New York
  • Attitash Mountain Resort, Wildcat Mountain and Crotched Mountain in New Hampshire
  • Liberty Mountain Resort, Roundtop Mountain Resort, Whitetail Resort, Jack Frost and Big Boulder in Pennsylvania
  • Alpine Valley, Boston Mills, Brandywine and Mad River Mountain in Ohio
  • Hidden Valley and Snow Creek in Missouri
  • Paoli Peaks in Indiana

"We are incredibly excited to have the opportunity to add such a powerful network of ski areas to our Company," said Rob Katz, chairman and chief executive officer of Vail Resorts. "Peak Resorts' ski areas in the Northeast are a perfect complement to our existing resorts and together will provide a very compelling offering to our guests in New York and Boston. With this acquisition, we are also able to make a much stronger connection to guests in critical cities in the Mid-Atlantic and Midwest and build on the success we have already seen with our strategy in Chicago, Minneapolis and Detroit. The acquisition fully embodies our philosophy of Epic for Everyone, making skiing and riding more accessible to guests across the U.S. and around the world."

"The ski areas within the Peak Resorts portfolio exemplify the spirit of our sport as well as our Company's mission to provide an Experience of a Lifetime to guests," Katz continued. "We're thrilled to welcome the resorts and their employees into the Vail Resorts family and invest in their continued success."

"Vail Resorts has a proven track record of celebrating the unique identity of its resorts, while continually investing in the guest and employee experience. For this reason, we are confident that our resorts and employees will continue to thrive within the Vail Resorts network," said Timothy Boyd, president and chief executive officer of Peak Resorts. "We are very proud of our track record over the last two decades in building the breadth, quality and accessibility of our resorts. We are thrilled that our guests will now have access to some of the world's most renowned resorts."

When the transaction closes, the 2019-20 Epic Pass, Epic Local Pass and Military Epic Pass will include unlimited and unrestricted access to the 17 Peak Resorts ski areas. Guests with an Epic Day Pass will also be able to access the new ski areas as a part of the total number of days purchased. For the 2019-20 season, Vail Resorts will honor and continue to sell all Peak Resorts pass products, and Peak Resorts' pass holders will have the option to upgrade to an Epic Pass or Epic Local Pass, following closing of the transaction.

Additional Transaction Details 
The aggregate purchase price for all Peak Resorts common stock is estimated to be approximately $264 million (calculated on a treasury method basis), which Vail Resorts intends to finance through a combination of cash on hand, its existing revolver facility and an expansion of its existing credit facility. In addition, Vail Resorts will be assuming or refinancing Peak Resorts' outstanding debt.

 

 

 

 

 

 

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Wonder what this means for JF/BB.  I haven't  been there in a few years anyway, but apparently it's going to be epic for everyone

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Surprising and I had to check the date to make sure It wasn’t 4/1. I would have to assume this purchase was for mount snow and hunter mostly. The infrastructure at jfbb and places like attitash is pretty non-vail so I wonder if there’s gonna be some big investments to bring them up to speed. 

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1 hour ago, GrilledSteezeSandwich said:

Blue should have their new ownership announcement within the week. 

Based on what information? I’m fully expecting it to be some random investment group at this point that gives absolutely no tangible benefit to skiers.

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5 minutes ago, Justo8484 said:

Based on what information? I’m fully expecting it to be some random investment group at this point that gives absolutely no tangible benefit to skiers.

Toast said it would be by the end of July.  I’m still waiting on pricing for the new condos.  They said by December of 2015. 

 

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9 minutes ago, GrilledSteezeSandwich said:

Toast said it would be by the end of July.  I’m still waiting on pricing for the new condos.  They said by December of 2015. 

 

I posted that the sale was called off about a month ago. Maybe that is when you were pretending to block me. 

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See you boys at JF, Ill be on the hunt for some biddy passes for spring slush bump laps. 

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38 minutes ago, GrilledSteezeSandwich said:

Maybe Phillycore and PARidgeRacer will go back to being instructors. 

You know thats unlikely, and i dont know why you would post that, other than you just feel like posting.  

 

This is pretty interesting news.  I guess when Blue wont sell, you go buy the completion.  

Will they grab some of Blues clientele with an Epic pass?  I'm not sure if this would change a thing for us, since i would say 90% of passholders have already bought their pass.  What would they offer to lure some of Blues day pass people to JFBB?  They cant make either mountain bigger, so they would need to cut prices.  

Peak did a fantastic job of pissing everybody from Roundtop, liberty and the other one down there, forcing them into the Peak Pass, and no longer having a local Pass.  

It will be fun to watch this unfold.  I wonder where JFBB will really be in a few years.  I just cant see these being viable resorts to hold on to.  i wonder if they will get parted out in time.  

Im gonna go back to work now, as i am pretty sure this will have no benefit (like less crowds) at Blue.  And i agree with Justo.  Blue's "investor" (if there will be one) will be someone that has no prior experience in the ski business.  And to be honest, that could be a good thing, or a bad thing.  

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1 minute ago, GrilledSteezeSandwich said:

There’s even an article about this in the morning call!!!

This is great!! Brings back a lot of great memories of that announcement back in April, which was also made on a Monday morning and is probably still being talked about on Pugski!!!

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1 hour ago, JFskiDan said:

You know thats unlikely, and i dont know why you would post that, other than you just feel like posting.  

 

This is pretty interesting news.  I guess when Blue wont sell, you go buy the completion.  

Will they grab some of Blues clientele with an Epic pass?  I'm not sure if this would change a thing for us, since i would say 90% of passholders have already bought their pass.  What would they offer to lure some of Blues day pass people to JFBB?  They cant make either mountain bigger, so they would need to cut prices.  

Peak did a fantastic job of pissing everybody from Roundtop, liberty and the other one down there, forcing them into the Peak Pass, and no longer having a local Pass.  

It will be fun to watch this unfold.  I wonder where JFBB will really be in a few years.  I just cant see these being viable resorts to hold on to.  i wonder if they will get parted out in time.  

Im gonna go back to work now, as i am pretty sure this will have no benefit (like less crowds) at Blue.  And i agree with Justo.  Blue's "investor" (if there will be one) will be someone that has no prior experience in the ski business.  And to be honest, that could be a good thing, or a bad thing.  

Who knows why he has posted 55,000 other times, too. 

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Just now, saltyant said:

This is great!! Brings back a lot of great memories of that announcement back in April, which was also made on a Monday morning and is probably still being talked about on Pugski!!!

WOW @saltyant you are probably right! 

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Won't have an impact on Blue this coming year as most have bought their passes.

I imagine after that it will lead to Blue and CB losing a good number of their advanced skiers who would like to get a pass that covers Western resorts as well - unless Blue or CB joins Alterra - I doubt Vail is really pitching to own more than 5 PA Mts. 

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13 minutes ago, Ski2Live Live2Ski said:

Won't have an impact on Blue this coming year as most have bought their passes.

I imagine after that it will lead to Blue and CB losing a good number of their advanced skiers who would like to get a pass that covers Western resorts as well - unless Blue or CB joins Alterra - I doubt Vail is really pitching to own more than 5 PA Mts. 

No blue passholders are gonna want to slum it at JF or B.B. except wankstains like you. 

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8 minutes ago, GrilledSteezeSandwich said:

No blue passholders are gonna want to slum it at JF or B.B. except wankstains like you. 

Those from NJ and NY may well up their game to Hunter, as is my plan. Those west of Philly may find Whitetail attractive.

Edited by Ski2Live Live2Ski

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23 minutes ago, Ski2Live Live2Ski said:

Won't have an impact on Blue this coming year as most have bought their passes.

I imagine after that it will lead to Blue and CB losing a good number of their advanced skiers who would like to get a pass that covers Western resorts as well - unless Blue or CB joins Alterra - I doubt Vail is really pitching to own more than 5 PA Mts. 

Advanced skiers aren't going to leave their home mountain and go to crappy JFBB hills because of being able to ski out west on the pass. They will ski decent PA terrain and Blue and pay to ski out west like they always have. 

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16 minutes ago, toast21602 said:

Advanced skiers aren't going to leave their home mountain and go to crappy JFBB hills because of being able to ski out west on the pass. They will ski decent PA terrain and Blue and pay to ski out west like they always have. 

Correct

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