PEAK is Epic

ski_it

Correct me if I'm wrong, and I usually am, but aren't these types of suits routinely filed & routinely dismissed without a hiccup in the acquisitions?

DrJeff

ski_it;c-37638 wroteCorrect me if I'm wrong, and I usually am, but aren't these types of suits routinely filed & routinely dismissed without a hiccup in the acquisitions?

That's the impression that some of my ski friends, who are in the mergers and acquisitions world of the finance business, gave me when we've been discussing this deal. In their professional opinion, these lawsuits aren't worth anything more than the proverbial paper they're printed on and originate from law firms with the reputation of throwing as many of these type of things out there in the hopes that they'll get a anxious party in the deal to throw them some token settlement cash

rickbolger

makes sense. the guys filing these suits look like small potatoes. If you google Earl M. Wheby Jr. the results are amusing. Appears he studied law while he was a guest of the state of Nevada, and he sued them too!

NELSBEER

Proxy results are in from todays vote on the merger.

89% of shares were voted in favor of the Peak sale.... 75% were needed. I didn't see an inordinate effort made to get me to vote my shares so the chances are most of the 'nays' were simply not voted, which is treated as a 'NO'.

Under the terms of the merger agreement, Peak Resorts’ common shareholders will be entitled to receive $11.00 per share in cash at the closing of the acquisition. The transaction is expected to close on or about September 24, 2019.

Upon completion of the acquisition, Peak Resorts will become privately held as an indirect, wholly-owned subsidiary of Vail Resorts.
According to the final voting results, approximately 89% of the Company’s outstanding shares, as of the close of business on August 19, 2019, the record date, voted in favor of the merger agreement, assuming the conversion of the shares of Series A preferred stock. No shareholder as of the record date has filed with the Company, before or at the Special Meeting, a written objection to the merger that was approved at the Special Meeting.
The consummation of the merger remains subject to the satisfaction or waiver of certain other closing conditions set forth in the merger agreement and discussed in detail in the Definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission (“SEC”) by the Company on August 20, 2019, as supplemented by the supplemental disclosures filed with the SEC by the Company on August 29, 2019, September 4, 2019 and September 11, 2019.

rickbolger

Here's a Frequently Asked Questions page regarding the Epic/Peak pass

https://www.peakpass.com/epic-faq/

...had not seen this before. Looks like the people who get the worst deal here is anyone with a "lifetime" Peak pass, seems that life expectancy ends after the coming season

ski_it

I had but can’t say I read it too deeply... Wait there’s a lifetime Peak Pass???
I’m sure that meant for the lifetime of Peak, not you. Er..Joshua?

joshua_segal

ski_it;c-37711 wroteI had but can’t say I read it too deeply... Wait there’s a lifetime Peak Pass???
I’m sure that meant for the lifetime of Peak, not you. Er..Joshua?

I think Peak honored the Wildcat Lifetime Passes when they acquired Wildcat. They did not honor the Crotched ones claiming something to the effect that after being out-of-business for 13-years, it was a new area. Courts agreed.

jaytrem

A friend of mine has a lifetime Hunter pass that Peaks honored and I think upgraded to a Peak Pass. He got it for putting in x number of years as a volunteer patroller.

DrJeff

And it's official!

http://investors.vailresorts.com/news-releases/news-release-details/vail-resorts-closes-its-acquisition-peak-resorts-adds-17-us-ski

IBRAKEFORTBARS

Very much looking forward to the plans Vail has for Boston Mills/Brandywine and Attitash although $15,000,000 invested across 17 new locations won’t exactly buy multiple new lifts.😂

IBRAKEFORTBARS

I will say this: Attitash desperately needs an alternative summit route versus that star-crossed CTEC triple. A new lift really ought to follow the lift line of the old Hall double.

newpylong

Following the old Hall double is a poor choice and not on the table for two reasons:

-There would be even less terrain served by it than the CTEC Triple. Literally 1 trail that eventually breaks into 2 then 3.
-It doesn't reach the summit, which would mean maintaining the triple (non-starter with a new lift)

ski_it

You will be assimilated resistance is futile

insideEpic.com

Today, I am excited to share that the following 17 ski areas have joined Vail Resorts, bringing our total number of resorts to 37:
• Mount Snow in Vermont
• Hunter Mountain in New York
• Attitash Mountain Resort, Wildcat Mountain and Crotched Mountain in New Hampshire
• Liberty Mountain Resort, Roundtop Mountain Resort, Whitetail Resort, Jack Frost and Big Boulder in Pennsylvania
• Alpine Valley, Boston Mills, Brandywine and Mad River Mountain in Ohio
• Hidden Valley and Snow Creek in Missouri
• Paoli Peaks in Indiana
These additional offerings near major urban areas including New York, Boston, Washington, D.C., Baltimore, Philadelphia, Cleveland, Columbus, St. Louis, Kansas City and Louisville will expand access and diversify the experiences available to our guests.
In anticipation of this milestone, we recently announced that Doug Pierini, currently COO, Okemo and Northeast region, will expand his leadership responsibility to oversee the newly formed Midwest and Mid-Atlantic regions that include the 17 Peak Resorts ski areas.
We have carefully considered the alignment of the new ski areas within the Vail Resorts operating model,and in order to maintain business continuity and tap into their knowledge of their unique resorts, each of the general managers and senior leadership teams that are located in resort will remain in their roles as part of this new regional leadership structure reporting into Doug effective today. Please see here for more details.
From an operations perspective, we are focused on ramp-up for the upcoming winter season and are committed to minimizing disruption. We plan on spending the next several months understanding the current systems and processes in order to build a robust integration plan, with the majority of the critical integration activities taking place following the 2019-2020 season. I hope you will all join me in welcoming what will be more than 10,000 new employees to Vail Resorts on this very exciting day for our Company.
Rob
Rob Katz
Chief Executive Officer

ciscokid

IBRAKEFORTBARS;c-37731 wroteI will say this: Attitash desperately needs an alternative summit route versus that star-crossed CTEC triple. A new lift really ought to follow the lift line of the old Hall double.

I enjoyed riding that illustrious lift with you Ibrake

ski_it

Please see here for more details.

New Resort Reporting
Reporting to Doug Pierini COO, Eastern Region:
Northeast
 Bruce Schmidt, General Manager of Okemo
o General Manager, Mt Sunapee (To be Named)
o Jason Perlmutter, General Manager of Crotched
 Bobby Murphy, General Manager of Stowe Mountain Resort
o Brian Heon, General Manager of Wildcat
o John Lowell, General Manager of Attitash
 Erik Barnes, General Manager of Mt Snow
 Russell Coloton, General Manager of Hunter
Midwest
 Mid-West: General Manager (To be Named)
o Chris Sorenson, General Manager of Afton Alps
o Jacob Campbell, General Manager of Alpine Valley, Boston Mills and Brandywine
o Josh Faber, General Manager, Mad River Mountain
o Beth Lohman, General Manager of Mt. Brighton
o Grigori Gavrilets, General Manager of Hidden Valley
o Matthew Grenier, General Manager of Snow Creek
o Ricky McMullen, General Manager of Paoli Peaks
o Peter Disch, General Manager of Wilmot
Mid-Atlantic
 Mid-Atlantic: General Manager (To be Named)
o Anne Weimer, General Manager of Liberty Mountain Resort
o Brett Cook, General Manager of Roundtop Mountain Resort
o Matt Thomas, General Manager of Whitetail Resort
o Mark Daubert, General Manager of Jack Frost
 James Davenport, General Manager of Big Boulder
 Eric Flynn
Functional departments such as Human Resources, IT, Marketing, Sales & Communications, Finance &
Accounting, Hospitality and Health & Safety will immediately realign to report to Vail Resorts corporate
leaders for those functions.

ski_it

How'd you sneak that between my posts Ciscokid??
https://epicpass.com/info/peak-resorts-faq.aspx

If I bought a Peak or Midwest Pass Product, am I entitled to a refund?
Vail Resorts will be allowing pass holders who purchased a Peak or Midwest pass product to exchange their pass for an Epic Season Pass product, should they want to.
Please note, exchanges for products purchased prior to the 7/22/2019 acquisition announcement will be eligible to receive pricing and benefits on their new pass in line with those available on the acquisition announcement date, until season passes for the 2019-20 season are no longer being sold. For those who purchased a Peak or Midwest pass product after 7/22/2019, guests will be eligible to upgrade or exchange to an Epic Season Pass product at the current price and benefit offering available for that product.

If I purchased a Peak or Midwest Pass Product, can I upgrade or exchange for an Epic Season Pass?
Yes, you will be able to exchange/refund your Peak or Midwest Pass for an Epic Pass, Epic Local Pass, Military Epic Pass, Epic 4-Day Pass, Epic 5-Day Pass, Epic 6-Day Pass and Epic 7-Day Pass (Note: Epic 1-Day Pass, Epic 2-Day Pass and Epic 3-Day Pass will not be eligible for upgrades/exchanges). Details on the refund exchange process noted below.
Refund Exchange Process:
1. Due to the announcement of the acquisition close, we are anticipating higher than normal call volume to our Call Center. If you purchased your Peak or Midwest Pass prior to the 7/22/19 acquisition announcement, we would encourage you to contact Vail Resorts after October 13 to upgrade or exchange to an Epic Season Pass Product (we will honor Epic Pass pricing and benefits on your new pass in line with those available before the acquisition announcement date), until season passes for the 2019-20 season are no longer being sold. You can contact Vail Resorts pass sales customer service at 1-970-754-0058 with any questions and to upgrade or exchange your Peak or Midwest pass product to an Epic Season Pass product.

2. If you purchased your Peak or Midwest Pass after the 7/22/19 acquisition announcement, please contact Vail Resorts to upgrade or exchange to an Epic Season Pass product at the current price and benefit offering available for that product.

3. Vail Resorts will process your upgrade and process the refund of your Peak or Midwest pass product within seven business days.

4. You will be assimilated resistance is futile.

ski_it

Anyone know where to find this info?
(we will honor Epic Pass pricing and benefits on your new pass in line with those available before the acquisition announcement date 7/22/19)

rickbolger

ski_it;c-37742 wroteAnyone know where to find this info?
(we will honor Epic Pass pricing and benefits on your new pass in line with those available before the acquisition announcement date 7/22/19)

No. I had to read it three times to figure out what it even means

IBRAKEFORTBARS

All your Peak Resorts are belong to us.

Chuckstah

I am told, but not 100 percent sure, that it's $40 to upgrade from an early buy full Peak to an Epic local. So 629 early Peak vs. $669 early buy Epic. I have the $529 blackout pass, so it will be $140 for me. You now get 50 percent off window rate at any Epic property if you choose not to upgrade. Not sure if I'll bother upgrading, but if I want more than 2 days at epic properties it will make sense to do so

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