By Karryon News @karryontravel24 Jul 2019Step aside Jon Snow, Vail Resorts is the new King of the North after acquiring 17 ski areas in the USA through the complete acquisition of Peak Resorts for around US$264 million.Vail Resorts announced that it had purchased 100 percent of the outstanding stock of Peak Resorts this morning, although it’s still subject to regulatory review and shareholder approval.Assuming all conditions are met, Peak Resorts will merge into the Vail Resorts brand, which will secure Vail Resorts’ position as one of the largest ski brands in the world having also recently purchased three of Australia’s largest ski fields.Read on for more: DETAILS OF THE ACQUISITION:Image: Hunter MountainVail Resorts anticipates that the transaction of $264 million for the purchase of all Peak Resorts common stock will close later this year. Once complete, Vail Resort will take complete ownership of all 17 US ski areas within Peak Resort. They are:Mount Snow, Vermont Hunter Mountain, New York Attitash Mountain Resort, New Hampshire Wildcat Mountain, New Hampshire Crotched Mountain, New Hampshire Liberty Mountain Resort, Pennsylvania Roundtop Mountain Resort, Pennsylvania Whitetail Resort, Pennsylvania Jack Frost, Pennsylvania Big Boulder in Pennsylvania Alpine Valley, Ohio Boston Mills, Ohio Brandywine, Ohio Mad River Mountain in Ohio Hidden Valley, Missouri Snow Creek, Missouri Paoli Peaks, IndianaVail Resorts intends to finance the purchase through a combination of cash on hand, its existing revolver facility and an expansion of its existing credit facility. Despite the cost, the company believes it will generate incremental annual EBITDA of approximately $60 million in the fiscal year ending 31 July 2021.A further $15 million is expected to be invested over the next two years in upgrading some of the resorts and improving the guest experience.“The acquisition fully embodies our philosophy of Epic for Everyone, making skiing and riding more accessible to guests across the U.S. and around the world.”Rob Katz, Vail Resorts Chairman & Chief Executive“The ski areas within the Peak Resorts portfolio exemplify the spirit of our sport as well as our Company’s mission to provide an Experience of a Lifetime to guests,” he added.“We’re thrilled to welcome the resorts and their employees into the Vail Resorts family and invest in their continued success.” WHAT DOES THIS MEAN FOR SKIERS?Image: Whitetail ResortOperations at all Peak Resorts ski areas will continue to run as per usual until the closure of the deal when Vail Resorts has promised to retain the vast majority of each resort’s employees.When the transaction closes, travellers will have more options when purchasing the 2019-20 Epic Pass, Epic Local Pass, Military Epic Pass, and Epic Australia pass as they’ll all include unlimited and unrestricted access to the 17 new additions.Guests with an Epic Day Pass will also be able to access the new ski areas as a part of the total number of days purchased.For the 2019-20 season, Vail Resorts will honour and continue to sell all Peak Resorts pass products, and Peak Resorts’ pass holders will have the option to upgrade to an Epic Pass or Epic Local Pass, following the closing of the transaction.Click here to check out Vail Resorts offerings. READ: 5 Reasons why Aussies are booking up a storm in the Wild WestREAD: American Airlines removes fees for oversize baggage (incl. skis)READ: Ski company officially owns Australia’s three major ski fields Other stories you may likeSUNRISE INCENTIVE: Book & Win A Trip To Canada With Rocky MountaineerSNOW, SCENERY & SERENITY: How To Make The Most Out Of A Canadian WinterBY BOAT OR HELICOPTER? What’s the best way to experience Niagara Falls?