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PEAK RESORTS ACQUIRES HUNTER MOUNTAIN

On Nov. 30, Peak Resorts entered into an agreement to purchase Hunter Mountain, N.Y., for cash consideration of $35 million plus the assumption of two capital leases estimated at approximately $1.8 million. Hunter generates approximately $27 million (unaudited) in annual revenue. Shortly after the acquisition, Peak added Hunter to its unlimited Nor’easter Pass, which includes all of its Northeast properties. Hunter Gold Pass holders were given the option to upgrade to a Nor’easter for $299. Peak Resorts portfolio now consists of 14 ski areas.

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Published in January 2016
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