The Nutting family and Vail Resorts have completed the sale of Seven Springs Mountain Resort, Hidden Valley Resort and the Laurel Mountain Ski Area for $118 million.
“Looking back over the past 15 years, I am proud to be leaving all three properties much better than we had found them,” said Bob Nutting, outgoing president and CEO of Seven Springs Mountain Resort, Inc. “I am very thankful for all of the resort professionals who we worked alongside with throughout our ownership that helped makes the resorts the strong community assets that they are today. I am further appreciative of our loyal guests we were able to host through these years.”
Nutting also is principal owner of the Pittsburgh Pirates.
Seven Springs, in Champion, grew significantly during Nutting’s ownership, nearly doubling its number of employees from 900 to 1,700. A focus on year-round programming also helped summer employment numbers grow from 600 to 1,000.
This past off-season, the resort upgraded its capacity, adding a new Doppelmayr Alpen Star chairlift that replaces the resort’s former Avalanche lift. The new lift is able to carry an additional 600 people per hour.
The sale was initially reported to be $125 million, which includes the assets related to the mountain operations of the resorts, including base area lodging, conference center and amenities. The final price came in lower after “customary closing purchase price adjustments,” Vail Resorts said in a statement.
Nutting’s company will retain several neighboring operations. It will continue to own and operate Sporting Clays at Seven Springs, the golf courses at Seven Springs and Hidden Valley, Highlands Market, Highlands Resort Realty, and retain certain real estate for potential future development.
Winter operations at each resort will continue as usual throughout the 2021-22 season. Current pass-holders, hotel guests, as well as group and event leaders will not be affected through the transition of ownership.
Colorado-based Vail Resorts plans to add access to the three resorts’ pass-holders to select Epic Pass products for the 2022-23 North American ski and ride season.
“This will provide a regional destination for Epic Pass Holders in Pittsburgh as well as those in other critical markets such as Washington, D.C., Baltimore and Cleveland, who will be able to ski more resorts close to home – and visit world-class mountains out west – all with one pass,” Vail Resorts said in a statement.
The international ski resort operator now owns 40 sites across 15 states and three countries. In Pennsylvania, it owns Liberty Mountain Resort (Fairfield), Roundtop Mountain Resort (Lewisberry), Whitetail Resort (Mercersburg), Jack Frost and Big Boulder (both in Lake Harmony).
Patrick Varine is a Tribune-Review staff writer. You can contact Patrick at 724-850-2862, [email protected] or via Twitter .
