Vail Resorts Acquiring 17 U.S. Ski Areas
Vail Resorts Inc. (NYSE: MTN) announced it has entered into a definitive merger agreement to acquire 100% of the outstanding stock of Peak Resorts Inc. (NASDAQ: SKIS) at a purchase price of $11 per share, subject to certain conditions, including regulatory review and Peak Resorts’ shareholder approval.
Through the acquisition, Vail Resorts will add 17 U.S. ski areas to its network of world-class resorts. Locally, Vail Resorts operates Heavenly, Northstar, and Kirkwood in the Lake Tahoe area.
When the transaction closes, the 2019/20 Epic Pass, Epic Local Pass, and Military Epic Pass will include unlimited and unrestricted access to the 17 Peak Resorts ski areas. Guests with an Epic Day Pass will also be able to access the new ski areas as a part of the total number of days purchased. For the 2019/20 season, Vail Resorts will honor and continue to sell all Peak Resorts pass products, and Peak Resorts pass holders will have the option to upgrade to an Epic Pass or Epic Local Pass, following closing of the transaction.
The aggregate purchase price for all Peak Resorts common stock is estimated to be approximately $264 million (calculated on a treasury method basis), which Vail Resorts intends to finance through a combination of cash on hand, its existing revolver facility, and an expansion of its existing credit facility. In addition, Vail Resorts will be assuming or refinancing Peak Resorts’ outstanding debt.
Business Incentives to Drink Tahoe Tap
With 99.994% purity, Tahoe tap water was voted the best tasting water in the country by the National Rural Water Association. The Tahoe Fund is partnering with the Tahoe Water Suppliers Association to encourage more people to Drink Tahoe Tap to reduce the use of single-use plastics. Grants are now available to organizations in the Tahoe Basin to install water bottle refill stations. To apply for a grant, organizations can visit drinktahoetap.org.
Available on a first-come basis, $500 grants will be offered to Basin businesses that complete the application, install water bottle refill stations, and submit proof of installation and payment. The program was designed to encourage environmental stewardship and reduce the use of single-use plastics by providing a way to easily refill reusable water bottles. Visitors and local residents can easily find nearby water bottle refill stations by using the free TAP app at findtap.com.
Runway Project Begins at RNO
Reno-Tahoe International Airport (RNO) has closed Runway 16L-34R through Nov. 15 for Phase I of a three-year runway upgrade program. Runway 16L-34R is the 9,000 ft. north/south runway located on the east side of the airfield and is one of three runways at RNO. Phase I’s $16 million commitment will mostly be covered by a $14.5 million Federal Aviation Administration grant which provides funding for runway reconstruction to enhance airport operational safety. In total, the current project will employ approximately 160 construction workers. RNO’s 11,000-foot primary runway (16R-34L) will remain open, along with the crosswind east/west runway (RWY 7-25). No significant impact on operations is expected from the temporary runway closure.
Stacey Stahl Receives EFT Certification
Truckee Therapy’s Stacy Stahl has been certified as an EFT Therapist by the International Centre for Excellence in Emotionally Focused Therapy (ICEEFT). Trained by Drs. Nancy and Paul Aikin as part of the Greater Sacramento-Davis EFT Center, she is now a practicing clinician of EFT. “She is empathic, compassionate, attuned, stays in present process and is supportive and beautifully holding,” Paul Aikin told Moonshine Ink in an email. “She converted from the cognitive behavioral to the humanistic, experiential EFT model, which, I have come to believe, is the most difficult transition between models to achieve.” Stahl’s practice is moving into a new space beginning Aug. 1 at 12242 Business Park Dr. Suite 1. To get on her waitlist, clients can register online as a new client at truckeetherapy.com.
Moving In, Moving Up, Moving On
TTCF Welcomes Timea Griset and Deb Ryan
The Tahoe Truckee Community Foundation announced the addition of Timea Griset as executive assistant to CEO Stacy Caldwell. Griset was chosen for her organizational skills and experience working with the community. She got her degree in primary education in Romania and has worked in prior community leadership roles; her most recent position was the youth programs coordinator for Arts for the Schools. She has also served on the board of directors for the North Tahoe Family Resource Center since 2013 and volunteered for years with Girls on the Run and Tahoe SAFE Alliance. (NTFRC and TSA are longtime partners with TTCF and are now joined together with two other groups as Sierra Community House). Griset’s 12 years of experience working for Incline Medical in office coordination, calendar management, meeting organization, communications, and project management made Caldwell confident that this will be the perfect fit.
Deb Ryan also joined TTCF with experience in the private, nonprofit, and public sectors. Ryan earned her MBA from Stanford Graduate School of Business and was an adjunct professor at the California State University Sacramento, School of Management. Prior to joining TTCF, she worked in healthcare reform as assistant director at the Office of Statewide Health Planning & Development for the State of California. She has managed small businesses and nonprofits and is the co-founder of a weekly community soup night called Stone Soup. Ryan is treasurer of the Truckee River Watershed Council and has served on the board since 2008. TTCF describes Ryan’s new role as “the friendly face you see when you walk through the door or call the office … and serve as the overall resident wise-woman at TTCF.”
Kathleen Legarza, MD, Joins Cancer Center
TRUCKEE, INCLINE VILLAGE
Tahoe Forest Health System has welcomed a new physician to their team. Kathleen Legarza, MD, who is certified in radiation oncology by the American Board of Radiology, will join the Gene Upshaw Memorial Tahoe Forest Cancer Center. Legarza will also serve as director of the cancer center. She specializes in the use of ionizing radiation and other modalities for patients with malignant and some benign diseases. Legarza was educated locally: She attended medical school at the University of Nevada School of Medicine, Reno and Las Vegas, and completed her residency in radiation oncology at San Francisco’s California Pacific Medical Center. She is accepting new patients at her office, located at 1021 Pine Ave. For more information call (530) 582-6450 or visit tfhd.com.