Vail Resorts Inc. (NYSE: MTN) has purchased Western Pennsylvania ski resorts Seven Springs Mountain Resort, Hidden Valley Resort and Laurel Mountain Ski Area from Seven Springs Mountain Resort Inc. for about $125 million.
“We are incredibly excited to have the opportunity to add Seven Springs to our family of resorts along with Hidden Valley and Laurel Mountain,” Vail CEO Kirsten Lynch said in a statement. “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 complement 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 deal is expected to close this winter.
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