Seven Springs Sold To Vail Resorts
By: John P. Wise/KDKA-TV
PITTSBURGH (KDKA) -- Ownership of a popular local winter attraction is changing hands.
Bob Nutting has owned Seven Springs Mountain Resort, in Somerset County, since 2006, but according to a news release sent to media Wednesday afternoon, it will be sold to Vail Resorts, based in Broomfield, Colorado.
In addition to Seven Springs, Vail Resorts also will acquire Hidden Valley Resort, in King of Prussia, and Laurel Mountain Ski Area, in Boswell.
"The resorts truly are a part of the fabric of this region and a critical community asset," Nutting said in the statement. "I am extremely proud of our stewardship of Seven Springs and its sister resorts, and even more so of all the people we have worked side-by-side with to transform them into what they are today."
Nutting also owns the Pittsburgh Pirates.
In a news release of its own, Vail Resorts reported the purchase price of the three ski resorts, plus a hotel, conference center and other related properties, is approximately $125 million, pending certain adjustments.
Seven Springs "will continue to own and operate the Sporting Clays at Seven Springs, Seven Springs Golf Course and Hidden Valley Golf Club, Highlands Market, Highlands Resort Realty, and retain certain real estate for potential future development," according to its statement.
The sale is expected to be finalized at some point during the current winter season. Current passholders will not be affected, according to the statement.
Vail Resorts CEO Kirsten Lynch said her company is focused on growing.
"As a company, we have been focused on acquiring resorts near major metropolitan areas, as we know many skiers and riders build their passion for the sport close to home," she said. "These great ski areas in Pennsylvania are a perfect complement to our existing resorts, creating a much stronger connection and compelling offering to our current and future guests in Pittsburgh, as well as those in other critical markets such as Washington, D.C., Baltimore and Cleveland."
Vail Resorts already owns five ski resorts in Pennsylvania -- Liberty Mountain Resort, Roundtop Mountain Resort, Whitetail Resort, Jack Frost and Big Boulder.
Bob Nutting has been pulling off some other deals lately. Just a week ago, his media company Ogden Newspapers bought another publisher, Swift Communications. That puts 54 local newspapers and magazines under the ownership of his company.
Pirates fans are always speculating about what the owner's moves could mean for the ballclub, but Nutting has always said he is not interested in selling the Pirates.
Seven Springs is about an hour's drive southeast down Interstate 76.
