SAM Magazine—Broomfield, Colo., Dec. 8, 2021—Vail Resorts has entered into an agreement to purchase Seven Springs, Pa., from Seven Springs Mountain Resort, Inc. As part of the $125 million deal, the company will also acquire Hidden Valley Resort, Pa., and the operations of Laurel Mountain Ski Area, Pa. The transaction is expected to close this winter.

“We are incredibly excited to have the opportunity to add Seven Springs to our family of resorts along with Hidden Valley and Laurel Mountain,” said Kirsten Lynch, chief executive officer of Vail Resorts. “As a company, we have been focused on acquiring resorts near major metropolitan areas as we know many skiers and riders build their passion for the sport close to home. These great ski areas in Pennsylvania are a perfect compliment to our existing resorts, creating a much stronger connection and compelling offering to our current and future guests in Pittsburgh as well as those in other critical markets such as Washington, D.C., Baltimore, and Cleveland.”

The acquisition is expected to generate incremental annual EBITDA in excess of $15 million in Vail Resorts’ fiscal year ending July 31, 2023. After closing the transaction, annual ongoing capital expenditures are expected to increase by approximately $3 million to support the addition of these resorts.

“I am extremely proud of our stewardship of Seven Springs and its sister resorts, and even more so of all the people who we have worked with side-by-side to transform them into what they are today,” said Robert Nutting, president and chief executive officer of Seven Springs Mountain Resort, Inc. “We are thrilled that the resorts will now become part of Vail Resorts’ network and are confident that Vail Resorts will continue to invest in what makes these resorts so special.”

Vail Resorts is acquiring all of the assets related to the mountain operations of the resorts and related base area lodging, conference center, and amenities, while Seven Springs Mountain Resort, Inc. will retain select neighboring operations, such as Seven Springs Golf Course and Hidden Valley Golf Club, and certain real estate owned and held for potential future development.  

Operations will continue as usual at the three properties for the remainder of the 2021/2022 winter season. Vail Resorts plans to add access to the three resorts to select Epic Pass products for the 2022-23 North American ski and ride season.

In a statement, Vail Resorts said that upon closing, it plans to retain the vast majority of each resort’s employees and will be working with the local leadership teams in the coming months to determine the right long-term management structure for the resorts.