Vail Resorts is buying Peak Resorts.

[Edd]

A hot drink is sad compensation. That is pathetic, seriously.


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[machski]

For sure. At least that was pre-Vail money thrown down the toilet. I wonder if they preferred a patchwork fix last summerso they could figure out what to do with it in the long run once they took the keys from Peak.

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I doubt Vail preferred anything actually. This was all driven by Peaks this summer. Vail had no input until the transaction closed which was well after the Summit Triple had been "fixed".

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[EPB]

I doubt Vail preferred anything actually. This was all driven by Peaks this summer. Vail had no input until the transaction closed which was well after the Summit Triple had been "fixed".

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They were almost certainly in discussions for months before the sale was announced. That's how these mergers typically work. That rescue financing from those pharma guys (Purdue?) to compete Peak's PA-based acquisition was almost certainly with an eye towards a fairly quick sale. Doesn't necessarily mean to Vail, but the writing was on the wall that Peak was shopping itself when you look back at the timeline.

It's a small enough project that I doubt Vail would have deeply cared about. It would have been like fixing a first floor half bath before selling your house. Maybe the new buyer will like it. Maybe they would have preferred another style.

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[SLyardsale]

They were almost certainly in discussions for months before the sale was announced. That's how these mergers typically work. That rescue financing from those pharma guys (Purdue?) to compete Peak's PA-based acquisition was almost certainly with an eye towards a fairly quick sale. Doesn't necessarily mean to Vail, but the writing was on the wall that Peak was shopping itself when you look back at the timeline.

It's a small enough project that I doubt Vail would have deeply cared about. It would have been like fixing a first floor half bath before selling your house. Maybe the new buyer will like it. Maybe they would have preferred another style.

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Yes, that is why it will be interesting to see what VMR does with Attitash going forward.

 

[Method9455]

Apparently A lift at Jack Frost and both Edelweiss and Little Boulder lifts at Big Boulder are down for the season as well. Sounds like Vail has quite a shopping list for the ex-Peak resorts, and growing...

I always defend Peak's management of JFBB & Mount Snow because I liked how they prioritized investing in snowmaking and grooming above all else. But they definitely spent less on lifts than many other operators, Peak's capital investments went to fan guns and supporting infrastructure.

I've also worked at a company that aiming to get acquired, we cut costs well past was what sustainable to fatten up the margins in order to sell the company. I don't know if Peak was intentionally deferring buying replacement lifts but it wouldn't be very surprising if they were.