Skiing

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Hidden Valley acquired by Vail Resorts as part of $264 million deal

Some of the other resorts owned by Vail include Breckenridge in Col. the Grand Teton Lodge Company in Jackson Hole, Wyo., and Park City in Utah.

July 22, 2019 - 9:31 am
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WILDWOOD, Mo. (KMOX) - The owner of Hidden Valley Ski Resort in St. Louis has been sold. 

The news broke early Monday morning, as the ski resort Wildwood, owned by Peak Resorts, is being sold to Colorado-based Vail Resorts for $11 a share. The total value of the deal, which includes 17 total ski resorts, is approximately $264 million. 

The majority of those other resorts are on the East Coast and Midwest, including Snow Creek in the Kansas City area. 

Vail Resorts says this acquisition is a perfect complement to its other locations around the country, which includes several in Colorado. After the deal closes, which is expected this fall, Hidden Valley and the 16 other Peak Resorts facilities will be part of a seasonal package where you can access many Vail resorts for one upfront price.

It's called an "Epic Pass" and there are multiple levels from unlimited access to nearly all Vail Resorts, discounted tickets, limited access to ski resorts in Japan, France and Canada, and discounted passes for active or former military members. 

Some of the other resorts owned by Vail include Breckenridge in Col. the Grand Teton Lodge Company in Jackson Hole, Wyo., and Park City in Utah.

The acquisition is expected to generate incremental annual EBITDA of approximately $60 million in Vail Resorts' fiscal year ending July 31, 2021, the first fiscal year with the full benefit of the synergies of the acquisition, with additional revenue upside in future years.  Synergies are expected to come from additional revenue across the Vail Resorts network of resorts and cost reductions from the elimination of certain duplicative administrative functions and greater efficiencies brought by Vail Resorts' size and scale. Vail Resorts' annual ongoing capital expenditures are expected to increase by $10 million to support the addition of the Peak Resorts ski areas. After closing of the transaction, Vail Resorts plans to invest approximately $15 million over the next two years in one-time capital spending to elevate the guest experience at these resorts. 

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