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Vail Resorts has agreed to acquire Seven Springs Mountain Resort in a deal valued at roughly $125 million.
“We have been focused on acquiring resorts near major metropolitan areas,” said Vail Resorts CEO Kristen Lynch.
- The deal includes Hidden Valley Resort and the operations of Laurel Mountain Ski Area in Pennsylvania.
- Vail will acquire all assets related to the mountain operations of the resorts, including ski areas, a hotel, lodging, and a conference center.
- The transaction is expected to close this winter, with operations continuing in ordinary fashion for the 2021-22 season.
In September, the company announced a $315 million-to-$325 million capital plan to install 19 new chairlifts across 14 resorts in an effort to improve guest experiences for the 2022-23 season.
Vail’s Latest Earnings
Vail Resorts — which operates 37 mountain resorts and ski areas — generated $175.6 million in revenue in fiscal Q1 2022, up from $43.8 million for the same period last year.
The company suffered a net loss of $139.3 million during the quarter, an improvement from a loss of $153.8 million in fiscal Q1 2021.
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