Business

Vail Resorts aims to add ski areas by acquiring Peak Resorts

Posted July 22, 2019 7:00 am

The Associated Press

BROOMFIELD, Colo. (AP) - Vail Resorts plans to take over 17 U.S. ski areas ranging from the Northeast to the Midwest by acquiring Peak Resorts for $264 million.

Colorado-based Vail said Monday the ski areas are in Indiana, Missouri, New Hampshire, New York, Ohio, Pennsylvania and Vermont.

The company says the deal is expected to close this fall if regulators and shareholders approve.

The newly acquired resorts would be included in Vail's Epic season pass. Vail says it plans to spend about $15 million over the next two years on improvements at the properties.

The ski areas are near 10 metropolitan areas: Cleveland; Columbus, Ohio; Baltimore; Boston; Kansas City, Missouri; Louisville, Kentucky; New York; Philadelphia; St. Louis; and Washington.

Vail owns 20 other ski areas in the U.S., Canada and Australia.

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