Wildwood-based Peak Resorts, owner of Hidden Valley Ski Resort, is now owned by Colorado-based Vail Resorts, the St. Louis Post-Dispatch reported.
Vail Resorts closed on its purchase of the company for $11 per share Tuesday, bringing 17 ski areas into its international network.
“We are thrilled that with this acquisition, skiers and riders living in and around some of the biggest cities in the country will now have access to both ski close to home and at renowned mountain resorts around the world — with just one pass,” said Rob Katz, chairman and chief executive of Vail Resorts.
For the upcoming 2019-20 ski season, Vail Resorts said it will honor all Peak Resorts pass products. It will continue to sell them through the fall.
For this season, Vail Resorts’ Epic Pass, Epic Local Pass, Epic Australia Pass and Military Epic Pass will include unlimited and unrestricted access to the 17 ski areas in Peak Resorts’ network.
Vail Resorts said it now owns and operates 37 resorts worldwide, including locations in British Columbia and Australia.
The company plans to invest approximately $15 million in its newly acquired resorts over the next two years.
Peak Resorts President and CEO Tim Boyd opened the Hidden Valley resort in Wildwood in 1982. Despite a run of warm weather that prompted an eight-day closure, the resort attracted $750,000 in revenue during its first winter. In 1985, the company opened another resort in Snow Creek, north of Kansas City.
To attract offseason visitors, Hidden Valley opened a zipline attraction this year.