Good news for St. Louis snowsports lovers. Missouri’s Hidden Valley Ski Area has settled its dispute with the city of Wildwood and will be allowed to build a zipline, which will open next spring. The resort had initially threatened to close the ski area if the zipline had not been approved.
Peak Resorts announced today that it has entered into a definitive agreement to acquire privately-held Snow Time, Inc. for $76 million.
Grabbing some air at Hidden Valley. (Hidden Valley/Facebook)
Missouri’s Hidden Valley Ski Area is once again in a dispute with the city of Wildwood in which it operates and once again is threatening to close the ski area after this season.
Rendering of the new Carinthia Lodge. (LineSync Architecture)
Mount Snow’s $52 million in EB-5 funding has been released from escrow, allowing them to continue construction of the West Lake Project, with work on the new base lodge at Carinthia Parks scheduled to begin in 2017.
The “Snow Making Capital of the World,” Hunter Mountain in the Catskils of New York, has announced its sale to Peak Resorts, owners of a dozen resorts in the Northeast and Midwest. Hunter's impact has been enormous on the nation's skiing development.
Peak Resorts, Inc. announced Monday it has entered into an agreement to purchase Hunter Mountain in the Catskill Mountains for $35 million plus the assumption of two capital leases estimated at approximately $1.8 million. The deal is expected to be completed by the end of this year.
Peak Resorts has filed with the U.S. Securities and Exchange Commission (SEC) for an initial public offering of its common stock that could raise $100 million. The number of shares to be offered and the price range for the offering have not yet been determined. If approved, stock will be listed on the NASDAQ Global Market ("NASDAQ") under the symbol "SKIS".
Josh Boyd, John Lowell, and Brian Heon have received promotions from Peak Resorts and will start their new roles this summer. Peak is based in St. Louis, Mo. and operates 13 ski areas in Ohio, Missouri, Indiana, Pennsylvania, New Hampshire, and Vermont.
Saying an offer of $20.5 million by Entertainment Properties Trust, a Kansas City-based real estate investment firm, “will bring the highest and best return to creditors and parties in interest,” DC Development LLC, Wisp Resort owners, asked a bankruptcy judge for approval.
Peak Resorts, which owns and operates six Midwest ski areas in Missouri, Indiana and Ohio, is spending several million dollars this summer expanding and remodeling two of the sites. New jobs will be created with the expansion.