Featured Image: Mike Dawson/Mount Snow
Peak Resorts, owner and operator of Northeast ski areas, including Hunter Mountain, Mount Snow and Jack Frost Big Boulder, just announced it will be expanding its reach into southern Pennsylvania with a $76 million acquisition of Snow Time. Snow Time owns and operates three ski areas in Pennsylvania: Liberty Mountain Resort, Whitetail Resort and Roundtop Mountain Resort and each is within driving distance of the large–10 million people–and underserved market in Baltimore and Washington D.C. Subject to closing conditions, the transaction is expected to be finalized before the start of the 2018-19 ski season.
“I am extremely pleased to pass along the stewardship of Snow Time and our three mountain resorts to Peak Resorts. Having watched the progress they continue to make at the formerly family-owned Hunter Mountain, I view Peak Resorts as the perfect operators to take Liberty, Roundtop and Whitetail to the next level,” said Irvin S. Naylor, founder and chairman of Snow Time. “For more than 50 years, my team and I have grown these three resorts into the magnificent properties they are today and we are delighted that Peak Resorts will continue to grow their appeal for the next generation and beyond.”
Liberty Mountain Resort is 70 miles and 90 miles north of Baltimore and Washington D.C., respectively, and offers 22 trails and three terrain parks across 100 skiable acres. Roundtop Mountain Resort, 75 miles north of Baltimore and 120 miles from Washington D.C., offers 20 trails and two terrain parks across 100 acres of skiable terrain and its Learn to Ski and Snowboard program was recently named “Best in Country” by the National Ski Areas Association. Whitetail Resort stretches across 125 skiable acres offering 23 trails, two terrain parks and a half pipe just 90 and 95 miles northwest of Washington D.C. and Baltimore, respectively.
“The transformative acquisition of Snow Time offers a rare opportunity for Peak Resorts to dramatically grow our company by expanding the number of destinations for our Peak Pass holders in the Northeast while growing our presence in the very attractive and densely populated markets of Baltimore and Washington, D.C.,” said Timothy D. Boyd, president and chief executive officer of Peak Resorts. “Over the course of more than 50 years, Irvin Naylor and his team have established three exceptionally well cared for mountain resorts across the southern tier of Pennsylvania and we are delighted to welcome these wonderful facilities and the Snow Time team to the Peak Resorts family. Furthermore, we expect the addition of these turn-key resorts to our portfolio ahead of the 2018-2019 ski season will result in immediate financial benefits for Peak Resorts.”
All three ski areas offer night skiing, which will bolster Peak Resorts’ night skiing capabilities to extend the fun for all skiers beyond daylight hours and enhance the value of the Peak Pass. Those who have already purchased their 2018-19 season pass to Liberty, Roundtop or Whitetail will have the option to upgrade to the Peak Pass and enjoy all 10 of Peak Resorts’ Northeast ski areas.
