The financial dirt on Peak Resorts

[billski]

Peak Financials and strategy with a little about their stats.
Oct 28, 2011 - 12:49 PM

Peak Resort’s Initial Public Offering. What’s Going On?

...
Peak Resorts operates 12 ski areas in the Midwest, Northeast, and Southeast U.S. They had about 1.8 million skier/boarder visits in the 2010/2011 season. Total revenues for the fiscal year ended April 30, 2011 were $98 million. Mount Snow generated 40% of Peak’s revenue and Attitash, 12%. None of the other areas generated more than 8%. Lift tickets were 52.2% of total revenue and food and beverage, 15.5%. Hotel/lodging represents only 6.5% of total revenue because Peak’s areas are overnight drive ski areas and day ski areas. They don’t have any of the areas characterized as fly destination areas.

That’s part of their strategy as all their areas “…are located in or near metropolitan areas and target a regional market.” They think their experience in acquiring, integrating and managing areas is one of their competitive strengths, and they expect to look for more acquisitions.

..
http://www.jeffharbaugh.com/2011/10/19/peak-resorts-initial-public-offering-whats-going-on/

 

[drjeff]

Read that about a week ago - big payment of about 35 million due this coming spring then their long term debt situation looks good with profits and revenues having increased the last 3 years

 

[threecy]

Some more information about Peak Resorts is available at NewEnglandSkiHistory.com:

http://www.newenglandskihistory.com/skiareamanagement/peakresorts.php

 

[cannonist]

Some nice new info on that site.

 

[thetrailboss]

That statement really shows how important Mount Snow is to them. And they have done a great job with Mount Snow. Nothing but good press and reports since 2007.

They bought Attitash because it was part of the ASC deal. Buying Wildcat was a good move to compliment their other offerings. Hopefully the IPO goes well. They've come a long way since buying the long shuttered Crotched and putting in some old quad chairs. That was back in 2003. Who would have thought then that this outfit would be running Wildcat, Attitash, AND Mount Snow?

 

[Abubob]

Middlefield, CT should give these folks a call for Powder Ridge. 100,000 people on their door step plus another 200,000 within about a half hour drive time. Heck we used to get bus loads from NJ for lessons there.

 

[AdironRider]

I think if Pats ever comes up for sale its right up Peaks alley.

 

[drjeff]

I think if Pats ever comes up for sale its right up Peaks alley.

Crotched, Attitash, Wildcat and then add in Pats Peak, the gov't might just have a problem with that just like they did when the SKI Ltd-LBO merger happened back in the day to form ASC and they had to sell off Cranmore + Waterville +months Sugarbush to keep the FTC happy

 

[AdironRider]

I doubt it, if they let Wildcat slide through I cant see them having a problem with Pats.

I think Otten got burned cause at that point he owned every ski area people had actually heard of (talking non skier regulator types). Killington, Sunday River, the Bush, Mt Snow, the list goes on.

I highly doubt anyone who doesnt ski has heard of Pats Crotched or Wildcat (Wildcat is a stretch).

 

[jaywbigred]

Nice post Billski!

I just hope everything continues going well for Peak! They have done an awesome job, and in tough economic times.