Huntah sold to Peak Resorts

[St. Jerry]

that is all. carry on

 

[VTKilarney]

From the press release:

The purchase price is slightly more than six times Hunter Mountain's adjusted EBITDA, which is estimated at approximately $6 million (unaudited) for its fiscal year ended April 30, 2015.

Peak Resorts currently has preliminary lender commitments for a first mortgage of approximately $20 million, which would be secured by Hunter Mountain assets. The remainder of the cash requirement is expected to be funded by tapping the line of credit the company announced in October 2015. Peak Resorts expects to complete the purchase of Hunter Mountain by year-end 2015.

 

[deadheadskier]

Wow

Great move. That will benefit both Hunter and Mountain Snow.

 

[billski]

why does this feel like Ski Inc. de je vous?

 

[mriceyman]

Now just have to expand across the ridge


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[VTKilarney]

I think it's a good purchase as well, although they definitely paid a premium. If done correctly, it will drive a lot of New York market skiers to their other properties in Vermont and New Hampshire. It can definitely give Mt. Snow a leg up over Stratton and Okemo.

 

[billski]

I think it's a good purchase as well, although they definitely paid a premium. If done correctly, it will drive a lot of New York market skiers to their other properties in Vermont and New Hampshire.

No! No! say it ain't so!

 

[BenedictGomez]

Well there's the answer to the recent "multi-million dollar financing" question.

 

[xwhaler]

And puts the Saddleback/Peaks rumors to bed once and for all!

 

[BenedictGomez]

Here's the most important bit of news for skiers who may happen to own a pass:

For this 2015-2016 ski season, we are planning to offer reciprocal programs among the resorts for the season passholders at Hunter Mountain and our current properties.

This news is FINE by me.

The more New Yorkers going to southern Vermont, the less crowded I-87 will be.

God bless America!!!! :flag:

 

[BenedictGomez]

There's going to be a conference call for investors at 5:30pm. Always interesting info to be gleaned from those.

I'll be listening to this on the drive home. For anyone interested: 877-292-0959

 

[andrec10]

Wow...End of an ERA! There a re a few people retiring nicely!

 

[thetrailboss]

Wow. No $hit?

 

[cdskier]

Did anyone see this one coming? I remember speculation about who Peak could be considering buying, but I don't recall anyone mentioning Hunter or anything else in the Catskills region even as a possibility.

 

[ss20]

Wow. Define "dominant player" in the Eastern ski industry? Mount Snow and Hunter two of the most major players in the East, from a financial standpoint. This is what Peaks has been about since the beginning... volume volume volume!!!

Peaks was offering a nice Cyber Monday deal today... $149 for one day each at Mt. Snow, Wildcat, Attitash, and Crothced, plus one extra day of your choice. Add in Hunter and you've got 90% of the northeast population in your grasp. Don't forget about their PA properties Buffalo is the only region they don't have a player in.

I doubt we'll see much investment in the mountain. What does Hunter need? Nothing. Sit back and soak up the profit to finance the Mega Mount Snow master plan.

 

[yeggous]

Wow. Define "dominant player" in the Eastern ski industry? Mount Snow and Hunter two of the most major players in the East, from a financial standpoint. This is what Peaks has been about since the beginning... volume volume volume!!!

Peaks was offering a nice Cyber Monday deal today... $149 for one day each at Mt. Snow, Wildcat, Attitash, and Crothced, plus one extra day of your choice. Add in Hunter and you've got 90% of the northeast population in your grasp. Don't forget about their PA properties Buffalo is the only region they don't have a player in.

I doubt we'll see much investment in the mountain. What does Hunter need? Nothing. Sit back and soak up the profit to finance the Mega Mount Snow master plan.

I know next to nothing about Hunter so I just did some poking around. What does Hunter need? A new trail map.


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[RichT]

I liked the fact that it was held together with a "rusted screw and a bent nail"! I just hope they don't do what Windham's done! Windham has to many beds there now, place must be packed on weekends/holidays.

 

[thetrailboss]

So it was Hunter and not Saddleback, Waterville Valley, or Shawnee Peak (ME).

 

[Smellytele]

Here's the most important bit of news for skiers who may happen to own a pass:



This news is FINE by me.

The more New Yorkers going to southern Vermont, the less crowded I-87 will be.

God bless America!!!! :flag:

So if I buy a Hunter Season pass I can ski at all the other areas? If so it would be a lot cheaper than the granite pass I would think. Or maybe I read that wrong.

 

[drjeff]

I liked the fact that it was held together with a "rusted screw and a bent nail"! I just hope they don't do what Windham's done! Windham has to many beds there now, place must be packed on weekends/holidays.

My hunch is if there's any plans for building real estate that it will be in a long term master plan type roll out, in stages, with outside funding such as Peak is finally going to start doing at Mount Snow now closing in on 10 yrs after the 1st bought it.

The big things for Peak in this is that not only do they increase their potential customer base, but also they see their annual revenues increase by 25-30% (Peak typically has been doing a bit over 100 million in annual revenue the last few years)