Hidden Valley, PA – Two Somerset County, Pennsylvania ski areas will be under common ownership this winter, as an agreement has been reached for Seven Springs Resort to purchase nearby rival Hidden Valley from the Buncher Co., a Pittsburgh-area real estate developer.
Resort officials announced the deal yesterday, but the purchase price for Hidden Valley was not disclosed. Details regarding any potential combination of lift passes between the two resorts, located only 13 miles apart, have yet to be released.
Seven Springs, about an hour south of Pittsburgh, is owned by the Nutting family, which also owns the Pittsburgh Pirates and a chain of small newspapers. It operates on more than 300 skiable acres. Hidden Valley, a smaller, family friendly alternative, spans 111 skiable acres.
Seven Springs also has a deal with the Pennsylvania Department of Conservation and Natural Resources to operate Laurel Mountain ski area on state-owned land in Ligonier, but that arrangement is still contingent upon the state investing $5.5 million in upgrades to the dormant property. The only other two ski areas in southwestern Pennsylvania are independently owned Blue Knob and Mystic Mountain at Nemacolin.
The Buncher Co. spent recent years revitalizing Hidden Valley after purchasing the resort in 2007 for $12.4 million.
“We have great respect for The Buncher Company. They have been good stewards of the resort since 2007,” said Bob Nutting, Chairman of Seven Springs. “As we have demonstrated with all of our other operations in the region, we are committed to the long-term success of Hidden Valley as a family destination.”
“We always have looked upon Hidden Valley as a unique investment” added Buncher President Tom Balestrieri. “We believe we have taken an underutilized and under-performing asset and have restored Hidden Valley’s reputation as one of the premier family resorts in the mid-Atlantic region through strategic improvements, such as the investment in the largest fully automated TechnoAlpin snowmaking installation of its type in the U.S.”
The sale of Hidden Valley to Seven Springs is expected to close by the end of this month.