Vail Resorts to Acquire Peak Resorts, Owner Of 17 U.S. Ski Areas
Vail Resorts, Inc. (NYSE: MTN) today announced it has entered into a definitive merger agreement to acquire 100 percent of the outstanding stock of Peak Resorts, Inc. (NASDAQ: SKIS) at a purchase price of $11.00 per share, subject to certain conditions, including regulatory review and Peak Resorts’ shareholder approval.
Through the acquisition, Vail Resorts will add 17 U.S. ski areas to its network of world-class resorts. Located near major metropolitan areas, including New York, Boston, Washington, D.C., Baltimore, Philadelphia, Cleveland, Columbus, St. Louis, Kansas City and Louisville, the resorts include:
Mount Snow in Vermont
Hunter Mountain in New York
Attitash Mountain Resort, Wildcat Mountain and Crotched Mountain in New Hampshire
Liberty Mountain Resort, Roundtop Mountain Resort, Whitetail Resort, Jack Frost and Big Boulder in Pennsylvania
Alpine Valley, Boston Mills, Brandywine and Mad River Mountain in Ohio
The EagleVail chairlift to Beaver Creek was not accepted by the Forest Service.
A chairlift has been discussed since the 60’s in EagleVail.
From Vail Daily and Aspen Times
The Forest Service and Vail Resorts have cited wildlife impacts to deny building a chairlift connecting EagleVail to Beaver Creek.
Aaron Mayville, district ranger for the Eagle-Holy Cross Ranger District has written to Steve Barber, EagleVail Metro District Manager that “a chairlift from EagleVail, across National Forest and into Beaver Creek is not possible right now.”
And Vail Resorts Executive Vice President, Mountain Division has also written to Barber stating that “we are not interested in discussions regarding a lift from EagleVail to Beaver Creek at this point.”
The officials of EagleVail were interested in a lift as EagleVail residents also were, as it helps increasing property values as a boon for homeowners and a catalyst for renewal.
Vail Resorts owns and operates Beaver Creek Resort.
David Warner, VP of EagleVail Metro District board and longtime proponent of the lift said: “It’s definitely a setback; these were not good letters.”
A lift of U$D 5.2 million
The lift was envisioned to stretch from the current location of the driving range of the EagleVail Golf Club up to Allie’s Cabin or Rose Bowl.
The proponents believe they had been backed up by Vail Resorts about this lift idea in 2016. A chairlift has been discussed in EagleVail since its inception in the ‘60s.
Even before Beaver Creek was built, there was a plan considered to connect EagleVail with the old Meadow Mountain Ski Area.
Warner said he received a bid for U$D 5.2 million from a lift company to build a 11,250-foot-long lift from the driving range to Rose Bowl. People favouring this envisioned asking voters to get an additional sales tax or using revenue from the tax passed in 2018 to finance the construction and operation of the lift.
The Property Owners Association board’s members came to a Metro District meeting in April asking the Metro Board for its blessing to conduct a U$D 15,000 study that would examine if there were ‘fatal flaws’ in the lift plan.
But then the Members of the Metro District suggested to just reach out to the Forest Service and Vail Resorts to see if they support the concept, and the answer was a resounding “no.”
Protection of wildlife, mainly the elk herd.
Mayville wrote in the May 4 email that ‘the entire hillside above EagleVail is an ‘elk refuge’ of sorts – when Beaver Creek was built, (a memorandum of understanding) was signed between the Forest Service, Division of Wildlife, Vail Associates, and others to set aside the area for the protection of wildlife (mainly the elk herd).”
74 Employees from Vail stuck at Eagle Bahn Gondola- now evacuated.
The Eagle Bahn gondola in Vail Mountain broke down Wednesday morning at 8.35 AM with employees going up to Eagle Nest.
From Vail Daily
Vail Resorts employees going to Eagle’s Nest had to be evacuated on Wednesday morning when the Eagle Bahn gondola stopped. The employees were evacuated safely by Vail Ski Patrol.
The gondola was not open to the public at that time and was only uploading the employees to get to work in the morning. The gondola and all Epic Discovery activities were closed for the day.
The company states that whatever has caused the gondola to stop will be fixed before re-opening. The Eagle Bahn Gondola was not opened today 4th July, but instead Gondola One out of Vail Village will be open for access via shuttle and hiking from Mid Vail to Eagle’s Nest for the Epic Discovery Activities, on-mountain dining and dinner at the Game Creek Restaurant. There will not be bike hauling availability.
Both Alterra and Vail Resorts have taken advantage of this. From November through April, Vail received 13.7 million skier days – a 20% year on year. Total revenue increased 14.5 percent to $1.8 billion.
Now that other resorts are finishing their season on Memorial Day Weekend, Breckenridge, decided to extend their season till June 9th.
After A Record-Breaking Winter Season And An Abundance Of Spring Snowfall, Breckenridge Ski Resort Announced Today Plans To Extend The 2018-19 Ski And Snowboard Season For Two Additional Weekends Beyond Memorial Day. The Resort Will Remain Open Daily Through Memorial Day, May 27 As Planned, And Then Will Shift To A Weekend Schedule, Offering Skiing And Riding On Saturdays And Sundays June 1-2 And June 8-9, Weather And Conditions Permitting.
“It Has Been One Of The Best Winter Seasons I Can Remember During My More Than 25-Year Career, And We Are Thrilled To Keep It Going For Our Guests And Passholders,” Said John Buhler, Vice President And Chief Operating Officer At Breckenridge Ski Resort.
During The Two Additional Weekends, Operations Will Continue To Be Based Out Of Peak 7, With Access To Primarily Advanced- And Expert-Level Terrain, Via The Independence Superchair.
Crested Butte’s Teocalli Lift Replacement Approved by U.S. Forest Service
The U.S. Forest Service has approved the replacement of the Teocalli Lift at Crested Butte Mountain Resort (CBMR). Beginning in early-May 2019, CBMR will begin removing the existing Teocalli Lift to replace and realign the lift for an improved on-mountain guest experience. The upgraded lift will debut in the 2019-20 winter season.
CBMR will replace the Teocalli Lift – a 1979 Riblet fixed-grip double chairlift – with an upgraded fixed-grip quad chairlift. By increasing the operating speed and subsequent spacing between the chairs – to accommodate the increased operating speed – the new Teocalli Lift will increase uphill capacity by more than 50 percent. The upper terminal of the Teocalli Lift will be shifted closer to the top of the Red Lady Express, while the lower terminal will remain in the existing location at the intersection of the Bushwacker, Gunsight Pass and Upper Conundrum trails.
After the existing Teocalli Lift is removed, site preparation and foundation work is expected to begin in July with the new Teocalli Lift being installed in August, weather and conditions depending.
Vail Resorts Announces Pending Sale of Park City Mountain Base Area Site for Mixed-Use Project Development
Vail Resorts today announced that it has entered into an agreement with PEG Companies, a Utah-based commercial real estate development and investment group, to sell and develop parcels of land currently used as surface parking lots at the base of Park City Mountain.
Subject to community input and an approval process by Park City Municipal Corp., the 10-acre site will feature a mixed-use project, including a full-service hotel and spa, residential units, commercial space for dining and retail, skier services, parking garages and community priorities such as improved access to public parking, traffic and transit improvements and on-site workforce housing.
“We are very excited to have found a development team that will work closely with the City and the community to carry out a vision for a vibrant base area,” said Bill Rock, senior vice president and chief operating officer of Park City Mountain. “We look forward to a collaborative partnership that will provide both our guests and Park City residents with an elevated experience at the base of Park City Mountain.”
Vail Resorts Reports Certain Ski Season Metrics for the Season-to-Date Period Ended April 21, 2019
Vail Resorts, Inc. (NYSE: MTN) today reported certain ski season metrics for the comparative periods from the beginning of the ski season through April 21, 2019, and for the prior year period through April 22, 2018. The reported ski season metrics are for their North American mountain resorts, and the metrics exclude results from our Australian resorts and their urban ski areas in both periods. The data mentioned in this release is interim period data and is subject to fiscal quarter end review and adjustments.
Season-to-date total lift ticket revenue at the Company’s North American mountain resorts, including an allocated portion of season pass revenue for each applicable period, was up 9.3% compared to the prior year season-to-date period.
Season-to-date ski school revenue was up 6.5% and dining revenue was up 7.0% compared to the prior year season-to-date period. Retail/rental revenue for North American resort store locations was up 6.2% compared to the prior year season-to-date period.
Season-to-date total skier visits for the Company’s North American mountain resorts were up 6.8% compared to the prior year season-to-date period.
Commenting on the ski season to date, Rob Katz, Chief Executive Officer, said, “We are pleased with our overall results as the 2018/2019 North American ski season concludes, with strong growth in visitation and spending compared to the prior year. The results from the key holiday weeks through the spring were largely in line with our original expectations as we saw strong destination visitation following the challenging early season period. Our results throughout the 2018/2019 North American ski season highlight the growth and stability resulting from our season pass, the benefit of our geographic diversification, the investments we make in our resorts and the success of our sophisticated, data-driven marketing efforts.”
Mountain Travel Symposium 2019 in Whistler – a recap.
Just came a couple of weeks ago from the Mountain Travel Symposium, an event I have been working for the past six years and which I enjoy every moment of it. I noticed however, that as I am getting old, it is taking me longer to feel back human again.
The Mountain Travel Symposium (MTS for short) is not a sprint, definitely is a marathon – An event that lasts one week and for me makes me be twelve days away from home from my husband and kids. MTS is the largest mountain and ski gathering of suppliers from all over the world – ski resorts, hoteliers and service providers, with tour operators that sell skiing, also from all over the world, and ski clubs and ski councils from the USA and Canada, that travel internationally.
I am in charge of the international market and on widening the international attendees year on year. This is a part-time, but yearlong job for me. Now I have a couple of weeks to get ready and close all things from this past event before we open the early bird registration for MTS 2020. MTS 2020 will be in Squaw Valley, at the Resort of Squaw Creek, in North Lake Tahoe, CA, USA from March 29 – April 4, 2020. In May we’ll be opening registration, with the best rates available for one month only. Then rates go up four times during the year, so whoever can register early, get rates that are USD 800 cheaper than the last published rates!
But, getting back to MTS 2019, the event was in Whistler, BC. Canada. We have been In Whistler also in 2015, but the event took the Fairmont in Blackcomb. This year the event was at the Whistler Village Conference Center. I was an attendee at MTS being at the same place in 2002, when I was having my own incoming tour operator Ski Patagonia, where I was selling trips to Argentina and Chile.
Heavenly, Northstar, and Kirkwood Resorts Announce Extended Ski Season
Heavenly Mountain Resort season extended through April 28, 2019, plus 3-day-weekend May 3-5
Northstar California Resort season extended through April 21, 2019
Kirkwood Mountain Resort season extended through April 14, 2019, plus 3-day-weekend April 19-21
After record-breaking snowfall throughout the Lake Tahoe region in February, the Best of Tahoe Resorts, including Heavenly Mountain Resort, Northstar California Resort, and Kirkwood Mountain Resort announced plans today to extend the 2018-19 ski and snowboard season. Plans may change based on weather, conditions or US Forest Service approval.
During the month of February alone, Heavenly has received 269” of snow, Northstar has received 286” and Kirkwood has received 271”.
“Record-breaking snow conditions paired with the hard work of our mountain operations teams have made for a truly unforgettable season so far,” said Mike Goar, vice president and chief operating officer of the Best of Tahoe Resorts. “With even more snow on the way, we are thrilled to extend the winter operations at all three of our Lake Tahoe resorts and offer skiers and riders additional opportunities to take advantage of these amazing spring conditions across the region.”