SAM Magazine—Wildwood, Mo., Oct. 19, 2015—Peak Resorts, Inc. is arranging a $15 million line of credit to fund acquisitions and improvements at its current properties. The line of credit, being offered by the Royal Banks of Missouri, allows Peak Resorts to increase the limit to $20 million if needed.

SAM Magazine—Wildwood, Mo., Oct. 19, 2015—Peak Resorts, Inc. is arranging a $15 million line of credit to fund acquisitions and improvements at its current properties. The line of credit, being offered by the Royal Banks of Missouri, allows Peak Resorts to increase the limit to $20 million if needed.

“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.

• Previous
  Quebec’s Mont Saint-Sauveur Now Open
• Next
  Idaho’s Soldier Mountain for Sale