Vail Resorts and MCR have acquired ski resorts in Pennsylvania and Vermont, respectively.
Vail Resorts closes acquisition of three Pennsylvania ski resorts
Vail Resorts Inc. has closed on its acquisition of Seven Springs Mountain Resort in Champion, PA; Hidden Valley Resort in Somerset, PA; and Laurel Mountain Ski Area in Boswell, PA. The company purchased the resorts, including the ski areas, a hotel, conference center and other related operations, from Seven Springs Mountain Resort Inc. and its affiliates for a final purchase price of approximately $118 million, including customary closing purchase price adjustments.
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.
Seven Springs is located one hour southeast of Pittsburgh and includes a 418-room hotel, conference center, a full-service spa and tubing. Hidden Valley offers 110 skiable acres and 470 vertical ft., with 26 slopes and trails and two terrain parks. Laurel Mountain offers 70 skiable acres and 761 vertical ft.
Vail Resorts acquired all of the assets related to the mountain operations of the resorts and related base area lodging, conference center and amenities. Vail Resorts will, subject to consent from the Commonwealth of Pennsylvania, assume the state land lease for Laurel Mountain.
MCR acquires Stoweflake Mountain Resort & Spa
Owner-operator MCR has acquired the 117-room Stoweflake Mountain Resort & Spa in Stowe, VT.
Just downslope from Mount Mansfield, Vermont’s highest peak, the resort features guestrooms with fireplaces, a 50,000-sq.-ft. spa, Charlie B’s restaurant, a sports and wellness center, two pools and outdoor jacuzzi, as well as a nine-hole golf course.
Also on-site is 25,000 sq. ft. of meeting space in 17 rooms and outdoor terrain bordered by the Green Mountains, as well as 32 townhomes, each equipped with a full kitchen and private deck.