Hunter Mountain gets new owner
Jul 23, 2019 3:15 pm
Larry Olmsted is reporting for ForbesLife Hunter Mountain Ski Resort is being sold again. On July 22, the Colorado-based mountain resort company Vail Resorts, announced it will acquire Hunter's owner, Peaks Resorts, thereby adding 17 more mountains to its portfolio. According to a press release, the publicly traded Vail Resorts, Inc. will purchase 100 percent of the outstanding stock of Peak Resorts, Inc. at a purchase price of $11.00 per share for a total of more than $260 million. Vail is best known for its Epic Pass program, which gives ski enthusiasts access to resorts worldwide. Timothy Boyd, Peak's president and chief executive officer, said, “Vail Resorts has a proven track record of celebrating the unique identity of its resorts, while continually investing in the guest and employee experience. For this reason, we are confident that our resorts and employees will continue to thrive within the Vail Resorts network.” No word on how this transaction will impact Hunter's employees. Peak Resorts, a Missouri-based company, purchased Hunter Mountain for $36.8 million in 2015. Read the full story at Forbes [dot] com.