Vail Resorts has announced that it has entered into an agreement to purchase Seven Springs Mountain Resort, Hidden Valley Resort and the operations of Laurel Mountain Ski Area.
Seven Springs is a family resort with 418 rooms, conference center and full-service spa. Hidden Valley offers 110 skiable acres and 470 vertical feet. Laurel Mountain offers 70 skiable acres and 761 vertical feet.
Vail Resorts is acquiring all assets related to the mountain operations of the resorts, including conference centers and amenities. Seven Springs Mountain Resort will retain operations at Highlands Market, Sporting Clays at Seven Springs, Seven Springs Golf Course and Hidden Valley Golf Club, Highlands Resort Realty and certain real estate owned and held for potential future development.
In addition to the acquisitions, Vail announced that it is on track to reach a zero net operating footprint by 2030. The company has been producing clean energy since 2020, thanks to its large-scale wind farm, and it has reached 85% renewable electricity across its 34 North American resorts.
Looking forward, Vail's Elektron Solar project, which broke ground in Oct. 2021, is expected to go live in 2023 and provide even more clean resources. That number is expected to rise again in 2023 after the Elektron Solar project comes online, which broke ground October 2021.
"Vail Resorts has remained dedicated to protecting the environment, supporting our employees, and investing in our mountain communities, even amid unprecedented challenges," said Kirsten Lynch, CEO of Vail Resorts. "With the release of our fourth annual EpicPromise Progress Report, Vail Resorts achieved industry-leading sustainability progress, expanded access to the outdoors for those who may not have otherwise had the opportunity, and supported our employees through unexpected challenges and continued education. Our company's core values serve as our roadmap as we continue to advance our bold goals together, toward a healthy, inclusive and more sustainable future."
