Via Hidden Valley Ski STL/Instagram

Peak Resorts buying Pennsylvania ski resorts for $76 million



Peak Resorts, the Wildwood-based owner and operator of ski resorts, has agreed to acquire Snow Time, a Pennsylvania ski resort operator, for $76 million.

Snow Time owns three resorts that serve the Baltimore-Washington D.C. market. The properties saw more than 600,000 guests during the 2017-2018 ski season, according to a press release.

Snow Time recorded revenue of about $50 million and adjusted EBITDA of about $11 million for the 12 months ended March 31, according to the release.

The deal calls for Peak Resorts to pay $70 million in cash and $6 million in common stock.

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