“This line of credit will allow us additional flexibility as we implement our roadmap for growth, which calls for a mix of organic growth, resort development and acquisitions. As we have stated, we continue to evaluate potential value-add properties for acquisition,” said Timothy D. Boyd, Peak president and chief executive officer.

According to a company statement, the line of credit is good for a one-year period, and the company can choose to renew unused portions or turn part of any outstanding balance into a three-year balloon loan. The interest rate is prime plus one percent per year, but Peak Resort must pay a commitment fee worth one percent of the loan amount.

Peak Resorts operates 13 ski areas, among them Mount Snow, Vt.; Mad River Mountain, Ohio; Hidden Valley and Snow Creek, Mo., Jack Frost/Big Boulder, Pa., and Attitash, Crotched Mountain, and Wildcat Mountain, N.H.