Vail Resorts is buying Peak Resorts.

[drjeff]

I wonder when anti-trust concerns come up?

Not sure it will, as if you take a look at where Vail's existing properties are, and where Peak's are, there's very little overlap, and with respect to New England, one could easily make the argument that post closing of the deal, that Alterra/Ikon will still have a greater share of the New England market.

Vail with this deal, just made it much more enticing for the skiers/riders up and down the I-95 corridor from Boston to DC, who aren't committed to a home mountain in the East, and like to take a trip or 2 out West a year, to go Epic, with now more day trip East Coast options (especially in the DC/Philly/NYC market) than IKON.

And Peak buying the Snowtime resorts last year in the DC/Philly market, now looks to be an even better move, as I'm guessing that made Peak and their market share in that sizable population base, look even better.

Now the question is will Alterra pull a knee jerk move and quickly buy up say Jay/Burke or maybe even Mountain Creek or a Pocono or Catskills area to try and gain some more enticement for the now much more wide open Eastern multi-pass option market??

 

[cdskier]

I broke one of my big investing rules to own it, that rule being, never buy a stock simply because you think someone will aquire them.

SKIS is an absolutely terrible investment, just horrible, but I couldn't envision a scenario whereby Vail didn't buy them. Peaks needed an exit from their financial idiocy & misery, and Vail desperately needed east coast access to keep their growth story going with Wall Street's institutional investors.

Yup...a potential acquisition definitely was the only reason to buy this one (which I agree in general is not a good reason to invest in a stock).

 

[Edd]

Ever hear of the MTV show, Jersey Shore?

Those are Benny's (Bayonne, Elizabeth, Newark, NY City).

Ah, sounds grim [emoji846]

 

[cdskier]

Now the question is will Alterra pull a knee jerk move and quickly buy up say Jay/Burke or maybe even Mountain Creek or a Pocono or Catskills area to try and gain some more enticement for the now much more wide open Eastern multi-pass option market??

Wasn't there already a rumor that Alterra was buying Camelback in the Poconos? I do think this puts pressure on Alterra though to do something more in the Northeast.

 

[drewfidelic]

I was not looking forward to a future where Peak needed to focus on servicing their mountain of debt rather than investing in their ski mountains. Peak needed a buyer. While it's possible that this leads to more skiers at Hunter and Mount Snow, I'm very happy to have a pass that includes my home mountain (Hunter) and throws in good options out west.

Hopefully this also means that the Summit chair at Attitash gets replaced sooner rather than later.

 

[FBGM]

Fantastic news. Now these garbage dump resorts will become safe and normal and nice. Will take some time and money.

Also, can’t wait to see the garbage peak resort employees get the ax! Will be a few months but it will happen. That mountain operations director that was the old owners son, yup see ya! Better shine up that resume. That moron guy that thinks he knows everything about snowmaking and capitol projects - yup gone. Go screw up something else because Vail don’t want ya. Anyone in marketing and sales should also shine the resume up.

Good times good times. Be prepared for a reality check, then good times.

 

[tnt1234]

Huh. If I wasn't such a picky day tripper, this would make an Epic Pass a no brainer. But I'd rather ski Bell or Platty than Hunter, and Blue instead of JF.

 

[Edd]

Hopefully this also means that the Summit chair at Attitash gets replaced sooner rather than later.

I’m starting to think that chair is possessed and refuses to be removed, even by Vail the Mighty.

The idea posted of them buying Haystack is interesting. God knows MS could benefit from a little crowd reduction (probably never happening).

This’ll sound a bit crazy, but to increase the Wildcat skier visits, which they’ll surely want to do, I wonder if they’d consider buying this place for lodging.



https://theglenhouse.com/

It’s only a year old, a mile from Wildcat, and a legitimately nice hotel with stunning views of the Presidentials. I went there several times last season for some apres ski. It would solve the issue of no lodging at Wildcat.

 

[GregoryIsaacs]

FBGM is this this official end of your irrational hatred for Mount Snow? Lets get a beer at the Bullwheel

 

[BenedictGomez]

Now the question is will Alterra pull a knee jerk move and quickly buy up say Jay/Burke or maybe even Mountain Creek or a Pocono or Catskills area

Yes.*




*assuming they dont offer $13 for SKIS within the next 72 hours.

 

[machski]

Not sure it will, as if you take a look at where Vail's existing properties are, and where Peak's are, there's very little overlap, and with respect to New England, one could easily make the argument that post closing of the deal, that Alterra/Ikon will still have a greater share of the New England market.

Vail with this deal, just made it much more enticing for the skiers/riders up and down the I-95 corridor from Boston to DC, who aren't committed to a home mountain in the East, and like to take a trip or 2 out West a year, to go Epic, with now more day trip East Coast options (especially in the DC/Philly/NYC market) than IKON.

And Peak buying the Snowtime resorts last year in the DC/Philly market, now looks to be an even better move, as I'm guessing that made Peak and their market share in that sizable population base, look even better.

Now the question is will Alterra pull a knee jerk move and quickly buy up say Jay/Burke or maybe even Mountain Creek or a Pocono or Catskills area to try and gain some more enticement for the now much more wide open Eastern multi-pass option market??

I disagree, I think Vail should have major antitrust concerns, especially in NH. Vail now owns (not just partners with) Mount Snow and Okemo (so if you leave K out, they own almost 2/3 of the Southern VT market), Stowe and in NH Crotched, Sunapee, Attitash and Wildcat. That could be trouble for them, though arguable still less than what ASC had when it was forced to divest Waterville, Cranmore and Sugarbush. We'll see I guess.

You really cannot compare Vail to Alterra in the East, where ownership of resorts is concerned. Yes, Ikon probably has more access in the East, but most of it is access only, not owned. Alterra only owns Stratton, the rest of NE is partner resorts with limited access on the Ikon.

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[machski]

I’m starting to think that chair is possessed and refuses to be removed, even by Vail the Mighty.

The idea posted of them buying Haystack is interesting. God knows MS could benefit from a little crowd reduction (probably never happening).

This’ll sound a bit crazy, but to increase the Wildcat skier visits, which they’ll surely want to do, I wonder if they’d consider buying this place for lodging.

View attachment 25374

https://theglenhouse.com/

It’s only a year old, a mile from Wildcat, and a legitimately nice hotel with stunning views of the Presidentials. I went there several times last season for some apres ski. It would solve the issue of no lodging at Wildcat.

What makes anyone think Vail will be quick to do much of anything liftwise in the East? They haven't done squat at Stowe/Okemo/Sunapee yet.

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[mgalluzz]

What makes anyone think Vail will be quick to do much of anything liftwise in the East? They haven't done squat at Stowe/Okemo/Sunapee yet.

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Agreed, but Attitash did just comment on their Instagram page that there will be an announcement coming about the triple this week. Having said that, they'll probably announce "investing $X million in these resorts" and then add an on mountain restaurant.

 

[thetrailboss]

Crazy.

 

[FBGM]

FBGM is this this official end of your irrational hatred for Mount Snow? Lets get a beer at the Bullwheel

None of my hate was irrational. It was all accurate and depicted actual happenings and concerns.

But yes, my hate to peak resorts was based on gross mismanagement of ski areas, operations, safety, funds and general management with heads up their asses and chips on their shoulders. This will now all change. It will take some time. But will change for the better.

I’m no Vail fan boy but you can’t argue that they do ski areas right. Good changes to come to bad ski areas is a positive thing.

 

[deadheadskier]

Yes, I'm sure an announcement is on the way that Vail will be burying 500 miles of snowmaking pipe throughout it's eastern portfolio.

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[Newpylong]

I disagree, I think Vail should have major antitrust concerns, especially in NH. Vail now owns (not just partners with) Mount Snow and Okemo (so if you leave K out, they own almost 2/3 of the Southern VT market), Stowe and in NH Crotched, Sunapee, Attitash and Wildcat. That could be trouble for them, though arguable still less than what ASC had when it was forced to divest Waterville, Cranmore and Sugarbush. We'll see I guess.

You really cannot compare Vail to Alterra in the East, where ownership of resorts is concerned. Yes, Ikon probably has more access in the East, but most of it is access only, not owned. Alterra only owns Stratton, the rest of NE is partner resorts with limited access on the Ikon.

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Only a minor detail but they were not forced to divest Sugarbush (like Cranmore/WV) upon the formation of ASC (LBO + SKI). The sale to Summit Ventures came later as part of restructuring.

 

[DoublePlanker]

This is EXCELLENT news. I hope New Hampshire allows them to hold all of the acquired NH resorts.

 

[Blowhard]

I’m no Vail fan boy but you can’t argue that they do ski areas right.

I don't know what this means. If I go to places like Vail & Beaver Creek, yes 100%, I am sure Park City/ Canyons are also 1st class(I've only ever skied Alta, Sbird & Deer Valley) as was Whistler when I was there in March. Per above, they've stated they are investing X at each acquisition, but you just don't see it.

At Okemo/ Sunapee/ Crested Butte they stated $32 million in improvements. They are fixing up the summit lodge at Okemo & putting in a new snowmaking pipe, NOt seeing much aside from that.

what have they actually done at Stowe? I think the idea there will be new lifts at any of these mountains any time soon that haven't already planned is a pipe dream. Vail's main purpose is to get more people on their pass to suck them out to the western mountains where they own the concessions, the van services, the ski shops & more. I argued in another thread here last year how Peaks made a great logical investment for them as it would capture more of the Boston Market (NH), Metro NY market (Hunter), Philadelphia Market (Poconos) and so forth.

My logic is based on the largest populations of skiers that are driving to their Saturday Day Trip or weekend destination from major Metro cities. Put them on the Epic pass and some of these people will fly west. The only thing really remaining is to grab one of the NC mountains to Capture Charlotte and something in WV for the DC market.

 

[jimmywilson69]

They have the DC market now, as the Snowtime resorts that Peak bought last year is where the DC people go.