The agreement concludes negotiations that have taken place this winter and finalization is now contingent on Forest Service approval and an anti-trust review. Tim Boyd, CEO of Peak Resorts, expects the approvals to proceed smoothly over the next 30 days or so and lead to a closing date shortly thereafter.
According to Boyd, Peak Resorts sees "a great opportunity in adding Mt. Snow and Attitash into the mix of our other resorts. Peak Resorts' real strength is in snowmaking and this strength can help the two new acquisitions reach their full potential." Both Mt. Snow, with a vertical drop of 1700', 106 trails and 590 skiable acres, and Attitash – vertical drop 1750', 70 trails and 280 skiable acres - are larger than Peak Resorts' other properties and Mt. Snow is ahead of the others in skier visits. Once the sale is completed, says Boyd, the new owners will sit down with department heads at both areas to assess all aspects of their operations with a goal of making the resorts run as efficiently as possible. Changes will inevitably come over time, but for the short term it will be business as usual.
Peak Resorts currently owns Crotched Mountain in New Hampshire, Jack Frost and Big Boulder in Pennsylvania and six others in Ohio, Indiana and Missouri.