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Peak Resorts Procures Line of Credit to Fund Additional Acquisitions
Peak Resorts Procures Line of Credit to Fund Additional Acquisitions
$15 million line of credit initially valid for one year.
Wednesday, October 21, 2015, NewEnglandSkiIndustry.com
In an October 19 press release, Peak Resorts announced it had secured a $15 million line of credit with Royal Banks of Missouri for a 12 month period, with an option to increase to $20 million. The purpose of the line of credit is to fund additional resort acquisitions.

In an investor presentation in August, Peak disclosed its acquisition criteria:
- Opportunity to increase value through targeted capital projects on undermanaged and undercapitalized resorts
- Long-term competitive advantage and opportunistic pricing
- Proximity to major metropolitan areas
- On-site water resources to satisfy snowmaking

There are unconfirmed rumors of two areas in Maine that could be considered as potential targets.

At the end of the 2015 fiscal year, Peak Resorts recorded $97.5 million in long term debt against $181 million in long term assets. The company reported a net loss of $1.85 million in fiscal year 2015, as compared to a net loss of $1.5 million in fiscal year 2014.

Peak Resorts currently operates Attitash, Crotched, Mount Snow, and Wildcat in New England, as well as nine ski areas elsewhere in the country.




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