Vail’s purchase of Peak Resorts marks another step in consolidating Vermont ski areas
Late last month, Vail Resorts – which owns the Stowe Mountain and Okemo Mountain resorts – announced plans to buy Peak Resorts, another industry giant, which owns Mount Snow.
This is another step in the continued consolidation of ski resorts in Vermont, and it remains to be seen how all of this might affect skiers, as well as other independent ski areas in the state.
“Peak Resorts was the only other owned and publicly traded ski company in North America,” said Abagael Giles, associate editor of Vermont Sports and Skiing and hiking in Vermont magazines and reporter for the Independent from Addison County. “It was a sale of $ 264 million as far as we know, and it was basically a share buyback.”
Listen to VPR’s Liam Elder Connors and his conversation with reporter Abagael Giles above.
Giles said the impact of the purchase on independent ski areas in the state was still unclear.
“For the 11 remaining independent resorts in Vermont, the question really is how do we set ourselves apart and make our experience something that stands out as unique in this larger changing landscape and market around us. “she said.
Giles said that according to financial reports and the number of visits reported last year, these independent resorts have been doing well recently. She recently wrote an article on how Vermont’s 2018-19 ski season was one of the records.