Investor Sues to Stop Vail Acquisition of Peak Resorts. A lawsuit has been brought against Peak Resorts by one of its own investors, who seeks to halt the company’s acquisition by Vail Resorts even as Peak has been urging shareholders to submit their proxy votes on the $463.6 million buyout of Peak’s stock and debt. The vote is scheduled to take place at a shareholders meeting Sept. 20. More. SAM
New Mayflower Resort to Connect with Deer Valley. Extell Development Company is building a new mountain resort located right next to Deer Valley Resort outside of Park City, Utah. Extell has purchased roughly 5,600 acres of private land in recent years, including the 2,300-acre Mayflower property where Mayflower Mountain Resort and Village will be built. More. SAM
National Parks and BLM Lands Now Open to E-Bikes. The National Park Service, Bureau of Land Management, and other public lands administered by the Interior Department will now allow pedal-assisted e-bikes on all approved bike trails following an order issued by Interior Secretary David Bernhardt on Thursday. The order opens approximately 400 national parks and other federally managed backcountry areas to e-bikes. More. SAM
POWDR to Open First Year-Round Action Sports Resort. POWDR is set to open the first year-round action sports resort in the country this winter, called Woodward Park City. The resort will boast state-of-the-art indoor and outdoor venues for snowboarding, skiing, mountain biking, skateboarding, tubing, BMX, parkour, and trampolining. More. SAM
Tirol Glacier Areas Opening Friday after 55cm of September Snowfall. The Stubai glacier in Austria’s Tirol region will open this Friday, 13th September, after a 55cm (22 inch) snowfall over the weekend. Sölden say they will also open their glacier skiing this Friday. Heavy snowfall across the Alps saw most areas with slopes above 1500 meters see fresh snow, with accumulations above 3,000 meters adding up to at least 50cm at resorts in Austria, Italy and Switzerland. More. InTheSnow Ed. Note: InTheSnow is published in Great Britain and focuses on European resorts, hence the measurements are in metric. Will an early winter in the Alps be matched in North America?
Indy Pass Adds Two More Partner Resorts. Indy Pass has added two more resorts to its lineup for the 2019-20 season: Caberfae Peaks in Cadillac, Mich., and Sunrise Park in Greer, Ariz. With these additions, the $199 Indy Pass now has a total of 36 participating ski areas. Passholders get two days at each. More. SAM
Now There’s Après Ski for Dogs. Given the growth in dog-friendly accommodation in the Alps, it is perhaps inevitable that “après ski fun for dogs” would be next. More. InTheSnow
WILDWOOD, Mo., Sept. 20, 2019 (GLOBE NEWSWIRE) — Peak Resorts, Inc. (Nasdaq:SKIS) (“Peak Resorts” or the “Company”), a leading owner and operator of high-quality, individually branded U.S. ski resorts, today announced that the Company’s shareholders, at a special meeting held today (the “Special Meeting”), approved the merger agreement for the acquisition of the Company by Vail Resorts, Inc. (NYSE: MTN) (“Vail Resorts”). Under the terms of the merger agreement, Peak Resorts’ common shareholders will be entitled to receive $11.00 per share in cash at the closing of the acquisition. The transaction is expected to close on or about September 24, 2019.
Upon completion of the acquisition, Peak Resorts will become privately held as an indirect, wholly-owned subsidiary of Vail Resorts.
According to the final voting results, approximately 89% of the Company’s outstanding shares, as of the close of business on August 19, 2019, the record date, voted in favor of the merger agreement, assuming the conversion of the shares of Series A preferred stock. No shareholder as of the record date has filed with the Company, before or at the Special Meeting, a written objection to the merger that was approved at the Special Meeting.
The consummation of the merger remains subject to the satisfaction or waiver of certain other closing conditions set forth in the merger agreement and discussed in detail in the Definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission (“SEC”) by the Company on August 20, 2019, as supplemented by the supplemental disclosures filed with the SEC by the Company on August 29, 2019, September 4, 2019 and September 11, 2019.
About Peak Resorts
Headquartered in Missouri, Peak Resorts is a leading owner and operator of high-quality, individually branded ski resorts in the U.S. The Company operates 17 ski resorts primarily located in the Northeast, Mid-Atlantic and Midwest, 16 of which are company owned.
The majority of the resorts are located within 100 miles of major metropolitan markets, including New York City, Boston, Philadelphia, Baltimore, Washington D.C., Cleveland, Kansas City and St. Louis, enabling day and overnight drive accessibility. The resorts under the company’s umbrella offer a breadth of activities, services and amenities, including skiing, snowboarding, terrain parks, tubing, dining, lodging, equipment rentals and sales, ski and snowboard instruction, and mountain biking, golf and other summer activities. To learn more, visit the Company’s website at ir.peakresorts.com or follow Peak Resorts on Facebook for resort updates.
For further information, or to receive future Peak Resorts news announcements via e-mail, please contact JCIR, at 212-835-8500 or [email protected].
Forward Looking Statements
This news release contains forward-looking statements regarding the future outlook and performance of Peak Resorts, within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this news release include, without limitation, statements related to: the timing of and the ability to close the potential merger. These and other forward-looking statements are based on management’s current views and assumptions and involve risks and uncertainties that could significantly affect expected results. Results may be materially affected by factors such as, but not limited to: the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement; the failure to satisfy the closing conditions in the merger agreement; the outcome of any legal proceeding relating to the proposed merger; and other risks described in the Company’s filings with the SEC. Actual results could differ materially from those projected in the forward-looking statements. The Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.
Peak Resorts, Inc.:
Investors and Media:
Norberto Aja, Jim Leahy, Joseph Jaffoni
212-835-8500 or [email protected]
For those that want flexibility, ski only a handful of days, or their local mountain is on the Epic or Ikon Pass, we get it. To start things off right, we’ll be completely honest with you. We have an Epic Local Pass. Heavenly is only a few minutes from our house, so we use it to get in a few laps when we don’t have a ton of time. Do we go to resorts on the Epic or Ikon Pass for vacation? Rarely. We’re suckers for ski areas that feel less corporate and have big (small) mountain town personalities. If you’re like us, here’s 10 ski resorts on our bucket list that aren’t on the Epic or Ikon Pass.
This resort that has been on our radar for a LOOONNNGG time. Everything about this place is heaven. First, it’s one of the three resorts we talked about that has a LIMIT on their season passes. Second, the resort is HUGE! Over 8,000 acres of inbound AND lift accessed side country. Third, they receive on average over 500” of snow. Although limiting season passes may not make business sense, on a powder day, who cares!
Although Jackson might get all the attention, this little resort west of the Grand Tetons is about one thing… skiing! Literally, it’s one of the ONLY resorts in the US or Canada that rivals the consistent high quality fluff you’d find at the Utah powder mecca of Alta. If consistent powder days wasn’t enough, they don’t come with the crowds found at many of the other destinations either. If you’re a powder hound that hates being stuck in line or seeing tracks then make this YOUR destination.
Located along the famous “Powder Highway” next to the quaint town of Rossland, this place screams “independence!” In fact, that’s their marketing slogan – “the last great, unspoiled resort.” With fun terrain spread across 3,850 acres, this resort has a little bit of everything. From nice steep shots to ample amounts of well-pitched groomers, you’ll definitely be entertained for days! Combine that with one of the coolest mountain towns that still has a main street and no big box stores in the area… they had us at “hello!”
As the crowds swell at Stevens Pass and Crystal Mountain from the day skiers shuttling up from Seattle, a bit further down the road is a cozy ski area tucked away from the madness. Situated on the aptly named “White Pass”, it has the look and feel of a hardcore Mom & Pop resort. When we hit this area back in 2010, it was the FIRST day they opened up the Paradise Basin ever! Even though its been a decade, I’ve vowed myself to come back and hit this mountain again. Now that it’s on the Indy Pass, I have no excuse NOT to!
I still remember vividly reading about this ski area in a SKI magazine article years ago. As the old adage goes, “big things come in small packages”, and Turner is the epitome of this statement. It operates as a non-profit with only THREE employees during ski season. Only has one lift. Miles from any large metropolitan area. Most people would brush it off but as you look closer, you’ll notice something special about this place. The lift is over 2,110 vertical feet of steep FALL-LINE skiing. In fact, over 60 percent of its terrain is considered ‘expert.’ As resorts get bigger and more crowded, this Mom & Pop focuses on what’s important… the skiing.
At a base of over 10,000 feet, this powder hound paradise in Colorado is the stuff of dreams for those looking to ride REAL snow in the early season (sometimes as early as Halloween). Although most of the terrain is pretty mellow, who cares when it receives the MOST snow in Colorado. And only thirty minutes down the road you can stay in Pagosa Springs, home to one of our FAVORITE hot springs on the continent.
Steeps? Check. Glades? Check. No attitude and all fun? Check. Anyone that has stepped into the Canadian Rockies knows the beauty & wildness of this part of the world is unrivaled. Just as pure as its surroundings, you won’t find any sleigh rides, fur jackets, or day spas at this ski area. The focus is about skiing its massive 3,500+ acres. Alongside consistently cold winter temps which helps preserve the snow making, their weather also ensures the snow stays powdery days after a storm. AND, it’s another ski area on the Indy Pass which you can pick up for only $199!
Ski Santa Fe
For those foodies that want to make a trip not just to ski but also to eat & explore, Ski Santa Fe is a must. It may not be the biggest or snowiest, but it sure packs a unique, one-of-a-kind experience. From five-star quality food to culture over 400 years old & some of the driest snow you’ve ever seen, it’s unlike anywhere else you’ve been before.
We get it. Sometimes you need an all-around destination resort to cover your family or groups’ needs. Look no further than Schweitzer Mountain. They have all the bells and whistles you’d expect including well groomed trails alongside its legendary tree skiing. Although Schweitzer is an emerging star in the destination resort ranks, you’ll still find plenty of elbow room on its slopes, especially compared to the big boys like Breckenridge or Whistler.
Last but not least, we gotta show love to our home mountain. Like any Tahoe resort, things can get crowded during the holiday rush. But, in comparison to Heavenly or Kirkwood, it’s downright peaceful. With only 46 trails across its 2,000 acres, Sierra is known for its tree skiing thanks in part to the old growth of red firs that weren’t considered valuable during the mining days of Virginia City.
If you do have an Epic or Ikon Pass, enjoy it and head to one of those resorts this winter. They’re all amazing, have tons of amenities, and are a “Disney World” for skiers and snowboarders. But if you’re looking for an authentic experience that’s a bit different, these 10 resorts that aren’t on the Epic or Ikon Pass are well worth a gander. Heck, you might even see our trusty ’95 4Runner nicknamed “Pepper” parked in one of these ski lots this season.
Have you heard the helicopter zooming around Telluride? Helicopter Logging Operations have been taking place in the Lift 9 area for the last couple of weeks. But why is this important and what good is it doing for our corner of the San Juan Mountains?
Part 1 – Why?
In 2015, TSG and forest biologists came up with a Vegetation Management Plan for the ski area where biologists went out and took inventory of trees across the ski mountain. This was done so that we could come up with a prescription of how to make our forest more resilient. As trees get over crowded and eventually die and fall to the earth, the wood becomes susceptible to threats like Bark Beatles, Spruce Budworms and forest fires. As well as being more prone to disease, these dead trees obstruct otherwise skiable glades. The strategy to begin the logging operations came from a goal to promote forest health as well as better skiing at Telluride Ski Resort.
Spiral Stairs Trees after being gladed:
Part 2 – How?
Logging by helicopter was chosen over another logging method called “skidding” because of its lesser impact on forest health. Skidding is a logging maneuver that includes yarding systems that are cables strung down the mountain to become a pulley system to take the trees out. This maneuver rips up ground vegetation. On the contrary, helicopter logging is very surgical and precise; the helicopter hovers over the pile of trees that need to be removed and then carries them away to the loading site.
Once these undesirable trees are removed, it makes for a healthy environment for trees and vegetation to thrive.
Satisfaction Trees after being gladed:
Part 3 – What’s the bottom line?
In addition to an increasingly healthy forest environment, TSG will gain about 50 acres of expanded gladed terrain in the Lift 9 area.
“We were strategic in selecting areas for forest health and fire mitigation practices that would also enhance the skiing experience. By removing trees with helicopters in the Lift 9 pod, we are adding close to 50 acres of improved tree skiing. Because this terrain has a north facing exposure, it will ski great with natural snow. We’re really thrilled to expand the skiing opportunities in this very special part of the ski area.” Jeff Proteau, VP of Mountain Operations
See the map below for the areas (in green) that will be gladed to skiable tree terrain for the 2019-2020 ski season.
(The top of Lift 9 is at the bottom of the picture).
If you’re looking to book your trip to Telluride, use our trip planning page as well as event calendar for everything that’s going on during your stay. We look forward to seeing you this winter!
Steamboat Ski Resort is proud to announce a $500,000 contribution to the newly launched Yampa River Fund. The half a million dollar cornerstone contribution is the largest single cash commitment in the resort’s 56-year history. The Yampa River Fund is a local water fund created through partnerships with The Nature Conservancy and local partners that improve river flow in Northwest Colorado to sustain both people and nature. Supporting the fund at $500,000 unlocked a one-to-one match ultimately allowing the resort to provide access to $1million for the health and prosperity of the community’s main water source.
“We are incredibly proud to be a Founding Donor of the Yampa River Fund, ” said Rob Perlman, president and COO of Steamboat Ski & Resort Corporation. “The Yampa River really defines who we are as a community and what makes this valley and all of Northwest Colorado so special in terms of agricultural, industrial, environmental, municipal and recreational benefits. One of our core values as a company is protecting and preserving our environment and being an active participant in the Yampa River Fund is another big move in our efforts to sustain our future for generations to come,”
The Yampa River Fund is a collaborative community-based organization dedicated to identifying and funding activities that protect the water supply, wildlife habitat and recreational opportunities provided by the Yampa River. Water funds are a common entity in communities around the U.S and the world, and they work to create collaborative planning and implementation tools for communities to create water security.
“The Nature Conservancy has been working to protect and restore the beautiful Yampa Valley for more than 25 years,” said Carlos Fernandez, Colorado state director for The Nature Conservancy. “The launch of the Yampa River Fund with support from SSRC enables the Steamboat community to improve and protect their water security by bringing diverse interests to the table and creating a shared vision for the future of the river and all who depend on it.”
“SSRC has been a great supporter of the Yampa River Fund,” said Nancy Smith, external affairs director, The Nature Conservancy’s Colorado River Program. “Their partnership has been critical to launching this effort to protect this river for the community. The Nature Conservancy looks forward to working together with its new sustainability director to make the Yampa River Fund a huge success!”
Steamboat announced the half-million-dollar support at a local launch event at Mountain Tap on Thursday, September 19. The resort will contribute $100,000 per year for the next five years, unlocking the one-to-one match for a total of $1 million impacts on the fund.
“I can’t think of a better way to kick off Steamboat’s new sustainability work than by making a big splash into such an important community effort.” said Sarah Jones, sustainability and community engagement director for Steamboat Ski & Resort Corporation. “We appreciate how critical the environment is to our business and understand the inextricable link between the river and the resort. Funding the Yampa River Fund supports Steamboat’s environment, economy and way of life.”
Is skiing the key to living longer? Data may have the answer. (Photo: Joris Berthelot)
Life expectancy has been falling over the last several years. Since 2014 the average life expectancy at birth has fallen from 78.9 to 78.6. Seeing as life expectancy is an important measure of the overall health of the population, this is a rather concerning statistic.
However, life expectancy does vary throughout the country.
A recent analysis of numbers given by the Institute for Health Metrics and Evaluation gave a list of the top 50 counties in which life expectancy was the longest. If you look closely at the list, it looks like skiing plays no small role in extending your life.
Right off the bat, number one, two, and three on the list are Summit, Pitkin, and Eagle counties in Colorado. These three counties house many powerhouse ski resorts such as Aspen, Breckenridge, A-Basin, Copper, Keystone, and Beaver Creek. Moving down to number seven on the list San Miguel County, also in Colorado and home to Telluride.
It turns out many counties known for skiing tend to have longer average life expectancies. (Photo: Mauro Paillex)
San Miguel is followed up by Fairfax County in Virginia, which, while not much of a ski town now, is in the process of approving proposals for one of the largest indoor ski areas in the world. Rounding out the top 10 is Douglass County, Colorado, which is close to many of the Colorado ski resorts mentioned above.
Continuing into the rest of the top 50 we have Teton County, Wyoming with Jackson Hole and Grand Targhee to name a few, Summit County, Utah with Park City, and about a dozen other Colorado counties all surrounded by plenty of snow and mountains. This is to say… it seems like skiing might be the secret fountain of youth that no one knows about yet… It seems unlikely that such a high concentration of ski towns would end up on that list by chance, so that must be it!
Skiing definitely promotes a healthy lifestyle (or at least the exercise to compensate for an unhealthy one) and keeps people outside and exercising during the cold harsh months of winter. While it may not be the sole source of longevity, it definitely can’t hurt, and might even help. So, get out there and get after it this season and justify the sick day at work knowing that your adding years on to your life!
In an important operational measure, Jackson Hole Mountain Resort (JHMR) proudly announces a full transition to Green Power for its electricity needs. Effective immediately, all-year-round resort operations will now be powered by Lower Valley Energy’s (LVE) 100% Green Power program. This includes all JHMR on- mountain lifts, facilities, and base area operations. The program’s product directly sources wind power from Horse Butte Wind Farm in neighboring Idaho; the closest wind energy source directly tied to Lower Valley’s grid.
JacksonHole Mountain Resort’s iconic Ariel Tram now powers with wind.
As a recognized ski industry leader, Jackson Hole’s unique position as a sought-after, global, big mountain resort destination, coupled with immediate proximity to North America’s most celebrated National Parks, makes JHMR a fitting candidate for incorporating Green Power. “It’s exciting to partner with Lower Valley Energy in a shared effort to power our entire operation with renewable electricity,” states JHMR’s President Mary Kate Buckley. “We are constantly seeking ways to reduce our impact on the environment and making the transition to running Jackson Hole’s full mountain operations on wind-powered energy is a big step that aligns with JHMR’s core values,” offers Tyler LaMotte, JHMR’s Chief Brand Officer.
Lower Valley Energy is the area’s electric utility and offers a locally sourced Green Power option for its members. They work in concert with additional area stakeholders, including Energy Conservation Works, The Town of Jackson, and Teton County, to reduce environmental impact by harnessing Green Energy and increasing energy efficiency for community benefit.
“We have been working on this green power partnership for some time and are very excited this came to fruition with such a great local industry leader,” states Lower Valley Energy President and CEO Jim Webb.
Energy Conservation Works partnered with Lower Valley Energy in September of 2017, launching an effort to increase participation in the Green Power program. Since that time hundreds of Teton County residents and business owners have chosen to switch their power to Green sources. In this time, JHMR becomes the largest member committing to operating on 100% Green Power. Lower Valley Energy emphasizes that any LVE member can choose to commit to Green Power. According to Drawdown.org, wind power is ranked as the second-best collective action communities can take to reduce their environmental impact.
Energy Conservation Works’ Executive Director, Phil Cameron notes, “I applaud JHMR on their commitment to sustainability and their transition to 100% Green Power.” He adds, “Their choice has a huge positive impact on our community’s total Green Power use. As an icon and industry leader, this transition is a catalyst to inspire JHMR’s peers, community and guests to take action as well.”