Vail Resorts closes it acquisition of Okemo Mountain Resort, Mount Sunapee Resort and Crested Butte Mountain Resort.
The Epic Pass, Epic Local Pass and Military Epic Pass now include unlimited, unrestricted access to Okemo Mountain Resort, Mount Sunapee Resort and Crested Butte Mountain Resort for the 2018-19 season
Passes for the 2018-19 season are currently on sale, with prices increasing Oct. 7
Vail Resorts, Inc. (NYSE: MTN) today announced that the Company has closed on its acquisition of Triple Peaks, LLC, the parent company of Okemo Mountain Resort in Vermont, Mount Sunapee Resort in New Hampshire and Crested Butte Mountain Resort in Colorado. The Company purchased Triple Peaks from the Mueller family for a final purchase price of approximately $74 million, after adjustments for certain agreed-upon terms. As part of the transaction and with funds provided by Vail Resorts, Triple Peaks paid off $155 million in leases that all three resorts had with Ski Resort Holdings, LLC, an affiliate of Oz Real Estate. Continue reading “Vail Resorts closes it acquisition of Okemo Mountain Resort, Mount Sunapee Resort and Crested Butte Mountain Resort.”
When driving to the mountains, it is important to know the laws about carrying winter tyres and snow chains. Not all countries and states or provinces oblige you to wear them. I would suggest you to check before you travel. Even if there were no law for using snow tyres, I would at least recommend taking snow chains, because if you are caught in a big snowstorm, you will need them. If you can buy at least second hand winter tyres, do so. It is an investment, more if you are going to drive to the mountains each ski season.
Also, if renting a car, don’t assume the car will come with snow tyres, even if going to countries full of mountains everywhere, remember to request them when booking your car rental, and also reserve snow chains.
Here is a summary of where snow tyres are mandatory – please you need to do your own search, as this is not by any means 100% accurate- we cannot be held responsible for you deciding not to take winter tyres! Do your own homework!
Peak Resorts to acquire Snow Time for USD 76 Million.
Accretive Transaction Expands Peak’s Northeast Portfolio
with the Addition of Three High-Quality Resorts
Peak Resorts, Inc. (NASDAQ:SKIS) (“Peak” or the “Company”), a leading owner and operator of high-quality, individually branded U.S. ski resorts, announced today that it has entered into a definitive agreement to acquire privately-held Snow Time, Inc. (“Snow Time”) for $76 million in total consideration.
Snow Time owns and operates three ski resorts in Pennsylvania: Liberty Mountain Resort, Whitetail Resort and Roundtop Mountain Resort. The three resorts are within driving distance of the Baltimore-Washington D.C. market, which comprises nearly 10 million people, and welcomed more than 600,000 visitors during the 2017/2018 ski season. Snow Time’s resorts offer a combined 65 trails, more than 325 skiable acres, and an average of approximately 700 vertical feet of terrain. Snow Time also operates two 18-hole golf courses, a 115-room hotel and 22,000 square foot conference center at Liberty Mountain Resort, and more than 20 food and beverage locations across its three resorts.
Snow Time generated approximately $50 million in revenue and approximately $11 million in adjusted EBITDA for the twelve-month period ended March 31, 2018, resulting in a purchase multiple of approximately 6.8x, before giving effect to expected operating synergies (a reconciliation from Net Income to Adjusted EBITDA, which is a non-GAAP financial measure, is provided at the end of this press release). The transaction is expected to be completed prior to the beginning of the 2018/2019 ski season,subject to the satisfaction of customary closing conditions.
Dolomiti Superski is the largest ski carousel in the world, composed of 12 well-known ski resorts and 1,200 km of pistes. Now at the start of its 45th winter season on 30 November 2018, Dolomiti Superski, the world’s largest ski-pass network, will offer many new cable cars and other lifts, new slopes, more snow-making and mountain attractions, with a total investment of 90 million Euros.
130 different member companies that compose Dolomiti Superski have invested 90 million euros. 70% of these investments are in lifts, and 30% on snowmaking.
Coming 2018-19 winter season, Alta Badia will replace the “Roby” 2-seater chairlift with a new modern 6-seater- chairlift. Meanwhile at Seiser Alm and at the Three Peaks Dolomites ski resort the same will happen with the “Mezdi” 2-seater chairlif and the “Mittelstation” 2-seater chairlift. In San Martino di Castrozza, the new 10-passenger cirulating ropeway “Colbricon Express” will replace a 3-seater and a 4-seater chairlift.
Around 50 years after access to the Schilthorn – Piz Gloria was opened up by cable car, Schilthorn Cableway Ltd has presented the new project SCHILTHORN 20XX. The idea behind it is to replace the current cable car with a new aerial cableway. Based on the existing buildings and lines, the new infrastructure and cableway will ensure public transport connections to and from Gimmelwald and Mürren and optimize access to the Schilthorn – Piz Gloria excursion peak.
The current aerial cableway dates from 1965 (linking Stechelberg – Gimmelwald – Mürren – Birg) and 1967 (Birg – Schilthorn). While many electromechanical components have been continuously replaced, the structural infrastructure remains largely in its original state. The 2016 – 2026 financial plan includes age-related measures on the aerial cableway, which are due to be implemented in the next few years to comply with existing regulations. The cableway has also comprehensively exhausted its capacity reserves. Today, the 100-passenger cabins can only carry a maximum of 80 passengers, due to increasing space requirements (passengers now weigh more on average; rising transport volumes of equipment for leisure activities etc.) At the same time, passenger numbers have risen both in summer and winter in recent years.
QC Terme, the Italian brand of deluxe spas has just opened in Chamonix, by the Mont Blanc. There has been for years another QC Terme on the other side of the Mont Blanc, at Pré de St-Didier.
In this new QC Terme spa, nature is the protagonist, offering an indulging experience of swimming amidst the snow and grassy meadows.
The spa has an unexpected combination of warmth and freshness, water and earth. Within the spa’s 3,000 square meters there are more than 30 wellness practices, offering a multi-sensory journey. An infinity pool with a reflection that merges with the water of the adjacent Alpine lake and the Bossons Glacier.
The Samedan Regional Airport, known as the “Engadin airport” is preparing for its future as a modern non- Schengen regional airport. The existing buildings will be replaced in several stages and the further infrastructure will be expanded. The winning project came from Hosoya Schaefer Architects / Blarer & Reber Architects, and it is now being developed into a construction project that will be executed in phases, to revamp Europe’s highest airport.
A first phase of development includes measures to guarantee the operation in the long term by replacing essential business related infrastructure. The “Landside” operating building with terminal, control tower, office space, food services as well as the entire customs and immigration processes is the focus of this phase. To the southwest, new helicopter hangars are being built for Rega and other regional helicopter companies. The execution of the first phase is planned to start from the year 2021.
A fire destroys Chamonix cable car in the Grands Montets ski area, but the area will open for the winter.
Compagnie du Mont Blanc press release- In the early afternoon of Tuesday 11th September, a fire broke out during work to repair the roofing of the upper station of the 1st cable-car between Argentière & Lognan (Les Grands Montets ski area). This work was entrusted to a specialist sub-contractor.
The fire spread almost instantaneously throughout all the buildings of the arrival station, creating severe damage to the infrastructures of the two cable-cars.
Zermatt’s latest attraction, the “Matterhorn glacier ride”, is set to open at the end of September. The world’s highest 3S cableway, combining the ultimate in design sophistication with maximum comfort, will serve Europe’s highest cableway station. The new 3S cable car ride built by LEITNER ropeways will enable visitors to reach the Klein Matterhorn, a popular destination for excursions, 365 days a year. The making of the “Matterhorn glacier ride” is a story as extraordinary as the ride itself. A total of 38 companies from Switzerland and Italy have been involved in Zermatt Bergbahnen AG’s largest-ever construction project. With the project due to be completed in an incredible 600 working days, they are turning the vision of the “Matterhorn glacier ride” into reality. Zermatt Bergbahnen AG and LEITNER ropeways worked together with Swarovski to produce a very special premium product: a state-of-the-art ropeway technology in Pininfarina design meets premium crystal finishing, and provides an as-yet unrivalled level of finishing and design.
Europe’s highest construction site
145 people from 38 different companies have been involved in the biggest construction project in the history of Zermatt Bergbahnen AG. From September 2018, the 3S (three-cable system) cableway will transport up to 2000 passengers an hour to Matterhorn glacier paradise (Klein Matterhorn) – 365 days a year.
The Klein Matterhorn usually has daytime temperatures as low as minus 30 degrees, wind speeds reaching 240 km/h, heavy snow and dense fog.
We were lucky this summer to stay for a week in Courmayeur, and we had a couple of days out going on different trekkings. I’ll write about our week in Courmayeur later. We decided to visit Cervinia one day with the family. From Courmayeur to Aosta, you have 40’ through the national route or 30’ through the A5, and then you continue to the east and for half an hour to the north through a windy road you arrive to Cervinia. All in all is about 1 ½ hours away.
Arriving in Cervinia
The first thing you start seeing on the road is the majestic Matterhorn, which is called Monte Cervino in the Italian side. The Matterhorn/Cervino is surely the most photographed and known mountain in Europe, not the tallest- that is the mighty Mont Blanc (just between Courmayeur and Chamonix)
I have been a couple of times in Zermatt now (and will write a must-read guide soon), but the first thing that called my attention, is that the Cervino’s peak seems much bigger on this side. This is, I was told, because you are at a higher altitude in Cervinia than in Zermatt, so you are just more near the peak.
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