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PEAK RESORTS TO ACQUIRE SNOW TIME FOR $76 MILLION

Mount Snow, one of the Peak Resorts bought by Vail Resorts. Photo: Mackenzie.

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.

Mount Snow, part of the group of resorts owned by Peak Resorts, who acquired Snow Time recently.
Mount Snow, part of the group of resorts owned by Peak Resorts, who acquired Snow Time recently.

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.

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Dolomiti Superski spends 90 Million Euro investement for the upcoming ski season.

Dolomiti Superski- 3 Zinnen Dolomiten- New Chairlift Mittelstation-Helm. Photo credit: Dolomiti Superski. 90 million Euro investment for the 2018-19 ski season.

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.

Dolomiti Superski- Val di Fiemme new rifugio Busabella in Alpe Cermis- Rendering credit: Dolomiti Superski.
Dolomiti Superski- Val di Fiemme new rifugio Busabella in Alpe Cermis- Rendering credit: Dolomiti Superski.

New lifts:

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.

Continue reading “Dolomiti Superski spends 90 Million Euro investement for the upcoming ski season.”

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Launch of the new SCHILTHORN 20XX cableway project

The planned aerial shuttle cableway consists of 3 sections with 2 cabins each (Stechelberg – Mürren – Birg – Schilthorn). Its distinguishing feature is the replacement of the existing transport cableway from Stechelberg to Mürren by a new shuttle cableway as the 1st section, thus eliminating the need for a changeover.

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.

A model image of how the Schilthorn 20XX project will look like. Schilthorn 20XX.
A model image of how the Schilthorn 20XX project will look like. Schilthorn 20XX.

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.

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QC Terme, the Italian spa experience arrives in Chamonix

A new QC Terme opened in Chamonix - a sauna surrounded by skis.

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.

Infinity pool at the QC Terme in Chamonix.
Infinity pool at the QC Terme in Chamonix.

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.

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The “Engadin airport”-Samedan Regional Airport and Europe’s highest-to be revamped.

The Samedan Regional Airport, "Engadin Airport" is Europe's highest airport. Photo: Samedan Regional Airport.

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.

Interior of the hangar at the Engadin airport, Samedan Regional Airport, Europe highest's airport. Photo: Samedan Regional Airport.
Interior of the hangar at the Engadin airport, Samedan Regional Airport, Europe highest’s airport. Photo: Samedan Regional 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.

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A fire destroys Chamonix cable car months before the resort opens for winter- Grands Montets ski area opening informations

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.

Les Grands Montets funicular on the ground, luckily there were no victims.
Les Grands Montets funicular on the ground, luckily there were no victims.

Continue reading “A fire destroys Chamonix cable car months before the resort opens for winter- Grands Montets ski area opening informations”

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Leitner presents the “Matterhorn Glacier Ride” the world’s highest cablecar, located in Zermatt designed by Pininfarina and showcasing Swarovski crystals.

The Matterhorn Glacier Ride. German innovation award for Zermatt 3s cabins.

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.

The station for the 3s Bahn that will ride to the Klein Matterhorn. Zermatt Bergbahnen. Zermatt Tourism Office.
The station for the 3s Bahn that will ride to the Klein Matterhorn. Zermatt Bergbahnen. Zermatt Tourism Office.

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.

Continue reading “Leitner presents the “Matterhorn Glacier Ride” the world’s highest cablecar, located in Zermatt designed by Pininfarina and showcasing Swarovski crystals.”

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A trekking day with the family in Cervinia.

The sky allowed us to see for a bit the Monte Cervino, later the clouds covered it. Photo by The-Ski-Guru.

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 into Cervinia through the last tunnel. Photo: The-Ski-Guru. Family day in Cervinia
Arriving into Cervinia through the last tunnel. Photo: The-Ski-Guru. Family day in Cervinia

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.

The boys with the Monte Cervino in the backdrop. A trekking day with the family in Cervinia.
The boys with the Monte Cervino in the backdrop. A trekking day with the family in Cervinia.

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Save the Date: Vail Snow Days is Back and Bigger Than Ever

Gondola One - Gold Cabin - photo by Jack Affleck - Vail Mountain. Emma, the World's First Digital Mountain Assistant, Kicks Off the 2018-19 Winter Season in Beta at Keystone Ski Resort

Vail Snow Days kicks off the 2018-19 winter season and returns bigger than ever with a four-day festival Thursday, Dec. 13 through Sunday, Dec. 16, 2018.
Vail Snow Days brings the entire community together to celebrate the early season. The schedule of activities for Vail Snow Days 2018 will include time-honored early season traditions including, the return of headliner concerts Friday and Saturday as well as new events including, the Pray for Snow Kick-off Celebration, pub crawls, and Bloodies and Bluegrass on Sunday.

Vail SnowDaze - Michael Franti. Photo Zach Mahone- Vail Mountain. Vail Snow Days.
Vail SnowDaze – Michael Franti. Photo Zach Mahone- Vail Mountain. Vail Snow Days.

The four-day festival will feature two nights of free concerts at Ford Park, presented by Bud Light. Big name headliners will be announced this fall and guests will have the opportunity to purchase Private Reserve VIP tickets.
The launch of Savor Vail will debut with early season offerings from local restaurants, bars, retail locations, galleries and spas.

Snow Days LIVE! will showcase live music all weekend long between Vail and Lionshead Villages as well as on-mountain.

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Crans-Montana Must–Read Guide

Denis Emery - photo-genic.ch- Courtesy Crans Montana Tourism Office.

Crans-Montana Must-Read Guide

This article may contain affiliate/compensated links. For full information, please see our disclaimer here.

Check no more! Here is your must-read guide to Crans-Montana:  Crans-Montana is a world-renown ski and summer resort in the Valais area of Switzerland, celebrating its 125th year this year. Easily accessible by train and a funicular, the resort has two big towns, Crans and Montana that are almost now linked into one bigger town.

Crans-Montana is a lively town, with lots of people that live there year-round. This is not the classic resort that opens only for the season and then nothing happens anymore; it is pretty big and busy.

Crans-Montana unique selling point is its vista and the sunny terrace where the valley is sitting.
Crans-Montana unique selling point is its vista and the sunny terrace where the valley is sitting. Your must-read guide to Crans-Montana.

Crans and Montana are located in a wide sunny valley, perched at 1500m, with magnificent south views of the mountains of the Rhône Valley in Valais, from the Mont Blanc to the Matterhorn- 19 peaks over 4,000 meters are facing Crans-Montana.  Hotels and condominiums are dotted in town amongst hotels, from 3 stars to deluxe 5 stars with all the services.

Crans-Montana has been a magnet for stars, from Roger Moore who had a house there, Alain Delon and Jean-Paul Belmondo, who used to stay at the Grand Hotel du Golf & Palace. The Kennedy’s family and Mr Bourvil used to holiday in Crans Montana. Also David Guetta comes for a discreet winter holiday to Crans-Montana.

Chez Croux, a painting by Martina Diez-Routh. Chez Croux is an on-mountain restaurant on Courmayeur. You have panoramic views of the Monte Bianco from there. In my shop for sale, to check it out, click here.

People go to Crans-Montana for the vistas, they are magnificent; for it’s skiing, with nice sunny pistes to all type of skiers, and in the rest of the year for its golf. With an 18-hole golf course by Severino Ballesteros and a 9-hole by Jack Nicklaus, and many hotels offering direct access to the golf course (or the cross country trails in winter), it is the best you could get in Switzerland! Plus the biking is pretty big now, lots of hiking and water sports around, to make it a year-round resort.

Continue reading “Crans-Montana Must–Read Guide”