Vail Resorts announced Wednesday it has agreed to purchase Seven Springs Mountain Resort in Pennsylvania from Seven Springs Mountain Resort, Inc.
Vail Resorts will also acquire Hidden Valley Resort and the operations of Laurel Mountain Ski Area as part of the deal. The approximated $125 million purchase price includes the three ski areas, a hotel, conference center and other related operations.
Moving closer to cities
The acquisition follows Vail Resorts’ ongoing strategy to bring skiers from major cities into nearby mountains. In 2019, the company made a $264 million purchase of 17 resorts in the East and Midwest, many of which are situated by major metropolitan areas.
“As a company, we have been focused on acquiring resorts near major metropolitan areas as we know many skiers and riders build their passion for the sport close to home,” said Kirsten Lynch, chief executive officer of Vail Resorts, in a news release. “These great ski areas in Pennsylvania are a perfect complement to our existing resorts, creating a much stronger connection and compelling offering to our current and future guests in Pittsburgh as well as those in other critical markets such as Washington, D.C., Baltimore and Cleveland.”
Seven Springs is 60 miles southeast of Pittsburgh and is among the largest ski resorts in Pennsylvania with 285 skiable acres and 750 vertical feet. Hidden Valley offers 110 skiable acres and 470 vertical feet, with 26 slopes and trails and two terrain parks. Laurel Mountain offers 70 skiable acres and 761 vertical feet.
“The resorts truly are a part of the fabric of this region and a critical community asset. I am extremely proud of our stewardship of Seven Springs and its sister resorts, and even more so of all the people who we have worked with side-by-side to transform them into what they are today,” said Robert Nutting, president and chief executive officer of Seven Springs Mountain Resort, Inc. “It has been an honor to be a part of their incredible growth for more than a decade and leave each resort a much stronger community asset than we found it.”
“Vail Resorts is a perfect successor with a proven track record of honoring the unique character of each of its resorts,” added Nutting. “…We are thrilled that the resorts will now become part of Vail Resorts’ network and are confident that Vail Resorts will continue to invest in what makes these resorts so special.”
Vail Resorts is acquiring all of the assets related to the mountain operations of the resorts and related base area lodging, conference center and amenities. Seven Springs Mountain Resort, Inc. will retain select neighboring operations, including Highlands Market, Sporting Clays at Seven Springs, Seven Springs Golf Course and Hidden Valley Golf Club, Highlands Resort Realty and more.
Vail Resorts will, subject to receipt of consent from the Commonwealth of Pennsylvania, assume the state land lease for Laurel Mountain.
The transaction is expected to close this winter, however, operations at the three resorts for the 2021-22 winter season will continue as originally planned. Vail Resorts aims to add the three resorts to select Epic Pass products for the 2022-23 ski season.