Peak Resorts (SKIS) 10-K 15 Jul 16 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Apr. 30, 2016	Jul. 14, 2016	Oct. 31, 2015
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Apr. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
Entity Registrant Name	Peak Resorts Inc
Entity Central Index Key	1,517,401
Current Fiscal Year End Date	--04-30
Entity Filer Category	Accelerated Filer
Trading Symbol	skis
Entity Public Float			$ 84.1
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Common Stock, Shares Outstanding		13,982,400

Consolidated Statements of Inco

Consolidated Statements of Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2016	Apr. 30, 2015	Apr. 30, 2014
Revenues
Revenues	$ 95,729	$ 104,858	$ 105,205
Costs and Expenses
Resort operating expenses	72,215	72,670	73,942
Depreciation and amortization	10,709	9,450	9,155
General and administrative expenses	4,513	4,088	3,240
Land and building rent	1,386	1,440	1,464
Real estate and other taxes	1,932	1,828	1,651
Settlement of lawsuit			700
Costs and expenses, total	90,755	89,476	90,152
Gain on settlement of lawsuit		2,100
Gain on involuntary conversion	195
Income from Operations	5,169	17,482	15,053
Other Income (expense)
Interest, net of interest capitalized of $268, $279 and $344 in 2016, 2015 and 2014, respectively	(10,814)	(15,458)	(17,359)
Defeasance fee paid with debt restructure		(5,000)
Gain on sale/leaseback	333	333	333
Investment income	8	11	11
Nonoperating income (expense), total	(10,473)	(20,114)	(17,015)
Loss before income tax benefit	(5,304)	(2,632)	(1,962)
Income tax expense	(2,078)	(778)	(461)
Net Loss	$ (3,226)	$ (1,854)	$ (1,501)
Basic and diluted earnings (loss) per share	$ (0.23)	$ (0.22)	$ (0.38)
Cash dividends declared per common share	$ 0.4125	$ 0.2466

Consolidated Statements of Inc3

Consolidated Statements of Income (Loss) (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2016	Apr. 30, 2015	Apr. 30, 2014
Statement of Financial Position [Abstract]
Interest Costs Capitalized Adjustment	$ 867	$ 488	$ 344

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Apr. 30, 2016	Apr. 30, 2015
Current assets
Cash and cash equivalents	$ 5,396	$ 16,849
Restricted cash balances	61,099	37,519
Accounts receivable	4,772	1,639
Inventory	2,730	1,583
Deferred income taxes	1,092	970
Prepaid expenses and deposits	2,680	1,930
Assets, current, total	77,769	60,490
Property and equipment-net	192,178	143,944
Land held for development	37,542	35,780
Intangible assets, net	846
Goodwill	5,009	627
Other assets	619	699
Total assets	313,963	241,540
Current liabilities
Acquisition line of credit	15,500
Accounts payable and accrued expenses	18,696	8,218
Accrued salaries, wages and related taxes and benefits	919	927
Unearned revenue	13,233	8,606
EB-5 investor funds in escrow	52,004	30,002
Current portion of deferred gain on sale/leaseback	333	333
Current portion of long-term debt and capitalized lease obligation	2,456	999
Liabilities, current, total	103,141	49,085
Long-term debt	118,343	97,569
Capitalized lease obligation	4,419	1,494
Deferred gain on sale/leaseback	3,178	3,511
Deferred income taxes	12,672	8,831
Other liabilities	576	612
Commitments and contingencies
Stockholders' Equity
Common stock, $.01 par value, 20,000,000 shares authorized, 13,982,400 shares issued	140	140
Additional paid-in capital	82,728	82,538
Accumulated Deficit	(11,234)	(2,240)
Total stockholders' equity	71,634	80,438
Total liabilities and stockholders' equity	$ 313,963	$ 241,540

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Apr. 30, 2016	Apr. 30, 2015
Statement of Financial Position [Abstract]
Common stock, par or stated value per share	$ 0.01	$ 0.01
Common stock, shares authorized	20,000,000	20,000,000
Common stock, shares, issued	13,982,400	13,982,400

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2016	Apr. 30, 2015	Apr. 30, 2014
Cash Flows from Operating Activities
Net loss	$ (3,226)	$ (1,854)	$ (1,501)
Adjustments to reconcile loss to net cash provided by operating activities, before business combination:
Deferred income tax	(2,078)	(946)	(511)
Depreciation and amortization of property and equipment	10,709	9,450	9,155
Amortization and write-off of deferred financing costs	291	141	52
Amortization of other liabilities	(36)	(36)	(36)
Gain on sale/leaseback	(333)	(333)	(333)
Stock based compensation	190
Gain on involuntary conversion	(195)
Changes in operating assets and liabilities, net of effect of acquisitions:
Accounts receivable	(2,738)	(1,243)	(30)
Inventory	(806)	(42)	(85)
Prepaid expenses and deposits	(504)	(497)	(550)
Other assets	84	(202)	(76)
Accounts payable and accrued expenses	7,459	1,245	1,331
Accrued salaries, wages and related taxes and benefits	(258)	41	(188)
Unearned revenue	1,634	1,148	2,534
Net cash provided by (used in) operating activities	10,193	6,872	9,762
Cash Flows from Investing Activities
Additions to property and equipment	(12,407)	(12,116)	(6,281)
Business Combination (net of cash acquired of $1,640)	(33,360)
Additions to land held for development	(1,358)	(109)	(97)
Proceeds from involuntary conversion	459
Change in restricted cash	(23,580)	(24,456)	(923)
Net cash used in investing activities	(70,246)	(36,681)	(7,301)
Cash Flows from Financing Activities
Borrowings on long-term debt and capitalized lease obligation	1,250
Proceeds from Hunter Loan Financing	36,500
Additions to EB-5 investor funds held in escrow	22,002	30,002
Payment on long-term debt and capitalized lease obligation	(2,080)	(77,058)	(1,167)
Net proceeds from issuance of common stock		82,253
Payment of deferred financing costs	(1,383)	(198)
Distributions to stockholders	(7,689)	(1,527)	(79)
Net cash provided by financing activities	48,600	33,472	(1,246)
Net (Decrease) Increase in Cash and Cash Equivalents	(11,453)	3,663	1,215
Cash and Cash Equivalents, beginning of year	16,849	13,186	11,971
Cash and Cash Equivalents, end of year	5,396	16,849	13,186
Supplemental Schedule of Cash Flow Information
Cash paid for interest, including $867, $488 and $344 capitalized in 2016, 2015 and 2014, respectively	11,007	15,810	16,952
Supplemental Disclosure of Noncash Investing and Financing Activites
Capital lease agreements to acquire equipment	3,950	$ 2,028	144
Acquisition of equipment with long-term borrowings			3,603
Land held for development financed with long-term borrowings	404		$ 1,000
Assets under construction included in retainage/ accounts payable	$ 3,459

Consolidated Statements of Cas7

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2016	Apr. 30, 2015	Apr. 30, 2014
Statement of Cash Flows [Abstract]
Cash Acquired from Acquisition	$ 1,640
Interest capitalized	$ 867	$ 488	$ 344

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid in Capital [Member]	Retained Earnings (Accumulated Deficit) [Member]	Total
Beginning balance at Apr. 30, 2013	$ 40	$ 385	$ 4,564	$ 4,989
Beginning balance, shares at Apr. 30, 2013	3,982,400
Net loss			(1,501)	(1,501)
Ending balance at Apr. 30, 2014	$ 40	385	3,063	3,488
Ending balance, shares at Apr. 30, 2014	3,982,400
Issuance of common stock, net of issuance costs	$ 100	82,153		82,253
Issuance of common stock, net of issuance cost, shares	10,000,000
Net loss			(1,854)	(1,854)
Dividends declared			(3,449)	(3,449)
Ending balance at Apr. 30, 2015	$ 140	82,538	(2,240)	80,438
Ending balance, shares at Apr. 30, 2015	13,982,400
Net loss			(3,226)	(3,226)
Dividends declared			(5,768)	(5,768)
Vested restricted stock units		190		190
Ending balance at Apr. 30, 2016	$ 140	$ 82,728	$ (11,234)	$ 71,634
Ending balance, shares at Apr. 30, 2016	13,982,400

Nature of Business and Signific

Nature of Business and Significant Accounting Policies	12 Months Ended
	Apr. 30, 2016
Nature of Business and Significant Accounting Policies [Abstract]
Nature of Business and Significant Accounting Policies

Property and Equipment

Property and Equipment	12 Months Ended
	Apr. 30, 2016
Property and Equipment [Abstract]
Property and Equipment	Note 2. Property and Equipment Property and equipment consists of the following at April 30, 201 6 and 201 5 (dollars in thousands):    2016 2015  Land and improvements $ 35,321 $ 28,197  Buildings and improvements 86,914 72,351  Equipment, furniture and fixtures 163,373 126,853  285,608 227,401  Less: accumulated depreciation and amortization 93,430 83,457  $ 192,178 $ 143,944  At April 30, 201 6 and 201 5 , equipment with a cost of $7,668 and $ 2,804 , respectively, and accumulated depreciation of $800 and $425 , respectively, was subject to the capital leases discussed in Note 10. Depreciation expense for the years ended April 30, 2016, 2015 , and 2014 totaled $10,690 , $9,450 , and $9,155 , respectively.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	12 Months Ended
	Apr. 30, 2016
Goodwill and Intangible Assets [Abstract]
Goodwill and Intangible Assets	Note 3. Goodwill and Intangible Assets Goodwill The goodwill balance as of April 30, 2016 and 2015 was $5,009 and $627 , respectively, which is included in our single business segment, resort operations. The additions to goodwill in the current year of $4,382 related to the acquisition of Hunter Mountain. The prior year goodwill balance related to the acquisition of Alpine Valley. The goodwill balances represent the excess of the purchase price over the net assets acquired. Goodwill is not amortized, but tested periodically for impairment. The Company did not record any impairment of goodwill for the years ended April 30, 2016, 2015 and 2014. Intangible Assets The Intangible assets at April 30, 2016 consisted of the following:    Year ended April 30, 2016  Life (years) Gross carrying amount Accumulated amortization Net book value   Trade name 15 $ 768 $ 17 $ 751  Customer relationships 15 97 2 95  $ 865 $ 19 $ 846  Prior to 2016, the company did not have any finite lived intangible assets recorded. Amortization expense for the years ended April 30, 2016 was $1 9 . Amortization expense for intangible assets for the next five fiscal years is estimated to be $5 8 each year. Both the goodwill and intangible assets identified in this note are related to the Company’s two most recent acquisitions.

Long-term Debt

Long-term Debt	12 Months Ended
	Apr. 30, 2016
Long-term Debt [Abstract]
Long-term Debt	Note 4. Long ‑term Debt Long ‑ term debt at April 30, 2016 and 2015 consisted of borrowings pursuant to the loans and other credit facilities discussed below, as follows (dollars in thousands):     2016 2015  Attitash/Mount Snow Debt; payable in monthly interest only payments at an increasing interest rate ( 11.10% at April 30, 2016 and 10.93% at April 30, 2015); remaining principal and interest due on December 1, 2034 $ 51,050 $ 51,050  Credit Facility Debt; payable in monthly interest only payments at an increasing interest rate ( 10.13% at April 30, 2016 and 2015); remaining principal and interest due on December 1, 2034 37,562 37,562  Hunter Mountain debt; payable in monthly interest only payments at an increasing interest rate ( 8.0% at April 30, 2016); remaining principal and interest due on January 5, 2036 21,000 -  Sycamore Lake (Alpine Valley) Debt; payable in monthly interest only payments at an increasing interest rate ( 10.56% at April 30, 2016 and 10.40% at April 30, 2016); remaining principal and interest due on December 1, 2034 4,550 4,550  Wildcat Mountain Debt; payable in monthly installments of $27 , including interest at a rate of 4.00% , with remaining principal and interest due on December 22, 2020 3,612 3,790  Other debt 3,231 1,931   Less unamortized debt issuance costs (1,903) (811)   119,102 98,072  Less: current maturities 759 503  $ 118,343 $ 97,569  Debt Restructure On November 10, 2014, in connection with the Company’s initial public offering, the Company entered into a Restructure Agreement with certain affiliates of EPR Properties (“EPR”), the Company’s primary lender, providing for the (i) prepayment of approximately $75.8 million of formerly non-prepayable debt secured by the Crotched Mountain, Attitash, Paoli Peaks, Hidden Valley and Snow Creek resorts and (ii) retirement of one of the notes associated with the future development of Mount Snow (the “Debt Restructure”). On December 1, 2014, the Company entered into various agreements in order to effectuate the Debt Restructure, as more fully described in the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on December 5, 2014. Pursuant to the Debt Restructure, the Company paid a defeasance fee of $5.0 million to EPR in addition to the consideration described below. In exchange for the prepayment right, the Company granted EPR a purchase option on the Boston Mills, Brandywine, Jack Frost, Big Boulder and Alpine Valley properties, subject to certain conditions. If EPR exercises a purchase option, EPR will enter into an agreement with the Company for the lease of each such acquired property for an initial term of 20 years, plus options to extend the lease for two additional periods of ten years each. All previously existing option agreements between the Company and EPR were terminated. Over the years, the Company has depreciated the book value of these properties pursuant to applicable accounting rules, and as such, it has a low basis in the properties. As a result, the Company will realize significant gains on the sale of the properties to EPR if the option is exercised. The Company will be required to pay capital gains tax on the difference between the purchase price of the properties and the tax basis in the properties, which is expected to be a substantial cost. To date, EPR has not exercised the option. Additionally, the Company agreed to extend the maturity dates on all non-prepayable notes and mortgages secured by the Mount Snow, Boston Mills, Brandywine, Jack Frost, Big Boulder and Alpine Valley properties remaining after the Debt Restructure by seven years to December 1, 2034, and to extend the lease for the Mad River property, previously terminating in 2026, until December 31, 2034 (the “Lease Amendment”). The Company also granted EPR a right of first refusal to provide all or a portion of the financing associated with any purchase, ground lease, sale/leaseback, management or financing transaction contemplated by the Company with respect to any new or existing ski resort property for a period of seven years or until financing provided by EPR for such transactions equals or exceeds $250 million in the aggregate. Proposed financings from certain types of institutional lenders providing a loan to value ratio of less than 60% (as relates to the applicable property being financed) are excluded from the right of first refusal. The Company granted EPR a separate right of first refusal in the event that the Company wishes to sell, transfer, convey or otherwise dispose of any or all of the Attitash ski resort for seven years. The Attitash right excludes the financing or mortgaging of Attitash. In connection with the Debt Restructure, the Company entered into a Master Credit and Security Agreement with EPR (the “Master Credit Agreement”) governing the restructured debt with EPR. Pursuant to the Master Credit Agreement, EPR agreed to maintain the following loans to the Company following the prepayment of certain outstanding debt with proceeds from the Company’s initial public offering: (i) a term loan in the amount of approximately $51.1 million to the Company and its subsidiary Mount Snow, Ltd., (included in the table above as the “Attitash/Mount Snow Debt”); (ii) a term loan in the amount of approximately $23.3 million to the Company and its subsidiaries Brandywine Ski Resort, Inc. and Boston Mills Ski Resort, Inc. (the “Boston Mills/Brandywine Debt”); (iii) a term loan in the amount of approximately $14.3 million to the Company and its subsidiary JFBB Ski Areas, Inc. (the “JFBB Debt” and together with the Boston Mills/Brandywine Debt, included in the table above as the “Credit Facility Debt”); and (iv) a term loan in the amount of approximately $4.6 million to the Company and its subsidiary Sycamore Lake, Inc. (included in the table above as the “Sycamore Lake (Alpine Valley) Debt”). Interest will be charged at a rate of (i) 10.13% per annum as to each of the Boston Mills/Brandywine Debt and JFBB Debt; (ii) 10.40% per annum as to the Sycamore Lake (Alpine Valley) Debt; and (iii) 10.93% per annum pursuant to the Attitash/Mount Snow Debt. Each of the notes governing the restructured debt provides that interest will increase each year by the lesser of the following: (x) three times the percentage increase in the Consumer Price Index as defined in the notes (“CPI”) from the CPI in effect on the applicable adjustment date over the CPI in effect on the immediately preceding adjustment date or (y) 1.5% (the “Capped CPI Index). Past due amounts will be charged a higher interest rate and be subject to late charges. The Master Credit Agreement further provides that in addition to interest payments, the Company must pay the following with respect to all restructured debt other than the Attitash/Mount Snow Debt: an additional annual payment equal to 10% of the gross receipts attributable to the properties serving as collateral of the restructured debt (other than Mount Snow) for such year in excess of an amount equal to the quotient obtained by dividing (i) the annual interest payments payable pursuant to the notes governing the restructured debt (other than with respect to the Attitash/Mount Snow Debt) for the immediately preceding year by (ii) 10% . The Company must pay the following with respect to the Attitash/Mount Snow Debt: an additional annual payment equal to 12% of the gross receipts generated at Mount Snow for such year in excess of an amount equal to the quotient obtained by dividing (i) the annual interest payments payable under the note governing the Attitash/Mount Snow Debt for the immediately preceding year by (ii) 12%. An additional interest payment of $0.2 million was due for the year ended April 3 0 , 2016. The Master Credit Agreement includes restrictions on certain transactions, including mergers, acquisitions, leases, asset sales, loans to third parties, and the incurrence of certain additional debt and liens. Financial covenants set forth in the Master Credit Agreement consist of a maximum leverage ratio (as defined in the Master Credit Agreement) of 65% , above which the Company and certain of its subsidiaries are prohibited from incurring additional indebtedness, and a consolidated fixed charge coverage ratio (as defined in the Master Credit Agreement) covenant, which (i) requires the Company to increase the balance of its debt service reserve account if the Company’s consolidated fixed charge coverage ratio falls below 1.50 :1.00 and (ii) prohibits the Company from paying dividends if the ratio is below 1.25 :1.00. The payment of dividends is also prohibited during default situations. Under the terms of the Master Credit Agreement, the occurrence of a change of control is an event of default. A change of control will be deemed to occur if (i) within two years after the effective date of the Master Credit Agreement, the Company’s named executive officers (Messrs. Timothy Boyd, Stephen Mueller and Richard Deutsch) cease to beneficially own and control less than 50% of the amount of the Company’s outstanding voting stock that they own as of the effective date of the Master Credit Agreement, or (ii) the Company ceases to beneficially own and control less than all of the outstanding shares of voting stock of those subsidiaries which are borrowers under the Master Credit Agreement. Other events of default include, but are not limited to, a default on other indebtedness of the Company or its subsidiaries. None of the restructured debt may be prepaid without the consent of EPR. Upon an event of default, as defined in the Debt Restructure Agreements, EPR may, among other things, declare all unpaid principal and interest due and payable. Each of the notes governing the restructured debt matures on December 1, 2034. As a condition to the Debt Restructure, the Company entered into the Master Cross Default Agreement with EPR (the “Master Cross Default Agreement”). The Master Cross Default Agreement provides that any event of default under existing or future loan or lien agreements between the Company or its affiliates and EPR, and any event of default under the Lease Amendment, shall automatically constitute an event of default under each of such loan and lien agreements and Lease Amendment, upon which EPR will be entitled to all of the remedies provided under such agreements and Lease Amendment in the case of an event of default. Also in connection with the Debt Restructure, the Company and EPR entered into the Guaranty Agreement (the “2014 Guaranty Agreement”). The 2014 Guaranty Agreement obligates the Company and its subsidiaries as guarantors of all debt evidenced by the Debt Restructure Agreements. The table below illustrates the potential interest rates applicable to the Company’s fluctuating interest rate debt for each of the next five years, assuming an effective rate increase by the Capped CPI Index:      Rates as of April 30, Attitash/Mount Snow Debt Credit Facility Debt Hunter Mountain Debt Sycamore Lake/(Alpine Valley) Debt  2016 11.10% 10.13% 8.00% 10.56%  2017 11.27% 10.28% 8.14% 10.72%  2018 11.44% 10.44% 8.28% 10.88%  2019 11.61% 10.59% 8.43% 11.04%  2020 11.78% 10.75% 8.57% 11.21%  2021 11.96% 10.91% 8.72% 11.38%   (1) For 2016, the dates of the rates presented are as follows: (i) April 1, 2016 for the Attitash/Mount Snow Debt; (ii) October 1, 2015 for the Credit Facility Debt; (iii) January 6, 2016 for Hunter Mountain Debt and (iv) December 1, 2015 for the Sycamore Lake (Alpine Valley) Debt.  The Capped CPI Index is an embedded derivative, but the Company has concluded that the derivative does not require bifurcation and separate presentation at fair value because the Capped CPI Index was determined to be clearly and closely related to the debt instrument. Wildcat Mountain Debt The Wildcat Mountain Debt due December 22, 2020 represents amounts owed pursuant to a promissory note in the principal amount of $4.5 million made by WC Acquisition Corp. in favor of Wildcat Mountain Ski Area, Inc., Meadow Green ‑ Wildcat Skilift Corp. and Meadow Green ‑ Wildcat Corp. (the “Wildcat Note”). The Wildcat Note, dated November 22, 2010, was made in connection with the acquisition of Wildcat Mountain, which was effective as of October 20, 2010. The interest rate as set forth in the Wildcat Note is fixed at 4.00% . Hunter Mountain Debt On January 6, 2016, the Company completed the acquisition of the Hunter Mountain ski resort located in Hunter, New York through the purchase of all of the outstanding stock of each of Hunter Mountain Ski Bowl, Inc., Hunter Mountain Festivals, Ltd., Hunter Mountain Rentals, Inc., Hunter Resort Vacations, Inc., Hunter Mountain Base Lodge, Inc., and Frosty Land, Inc. (collectively, “Hunter Mountain”) pursuant to the terms of the Stock Purchase Agreement (the “Purchase Agreement”) with Paul Slutzky, Charles B. Slutzky, David Slutzky, Gary Slutzky and Carol Slutzky-Tenerowicz entered into on November 30, 2015. The Company acquired Hunter Mountain for total cash consideration of $35.0 million plus the assumption of two capital leases estimated at approximately $1.7 million. A portion of the Hunter Mountain acquisition price was financed pursuant to the Master Credit and Security Agreement (the “Hunter Mountain Credit Agreement”) entered into between the Company and EPR as of January 6, 2016. The Hunter Mountain Debt due January 5, 2036 represents amounts owed pursuant to a promissory note (the “Hunter Mountain Note”) in the principal amount of $21.0 million made by the Company in favor of EPR pursuant to the Hunter Mountain Credit Agreement, which was effective as of January 6, 2016. The Company used $20.0 million of the Hunter Mountain Debt to finance the Hunter Mountain acquisition and $1.0 million to cover closing costs and to add to its interest reserve account. The Hunter Mountain Credit Agreement and Hunter Mountain Note provide that interest will be charged at an initial rate of 8.00% , subject to an annual increase beginning on February 1, 2017 by the lesser of the following: (x) three times the percentage increase in the CPI (as defined in the Hunter Mountain Note) from the CPI in effect on the applicable adjustment date over the CPI in effect on the immediately preceding adjustment date or (y) 1.75% . Past due amounts will be charged a higher interest rate and be subject to late charges. The Hunter Mountain Credit Agreement further provides that in addition to interest payments, the Company must pay an additional annual payment equal to 8.00% of the gross receipts in excess of $35.0 million that are attributable to all collateral under the Hunter Mountain Note for such year. The Hunter Mountain Credit Agreement includes restrictions or limitations on certain transactions, including mergers, acquisitions, leases, asset sales, loans to third parties, and the incurrence or guaranty of certain additional debt and liens. Financial covenants set forth in the Hunter Mountain Credit Agreement consist of a maximum leverage ratio (as defined in the Hunter Mountain Credit Agreement) of 65% , above which the Company is prohibited from incurring additional indebtedness. The Company must also maintain a consolidated fixed charge coverage ratio (as defined in the Hunter Mountain Credit Agreement) which (i) requires the Company to increase the balance of its debt service reserve account if the Company’s consolidated fixed charge coverage ratio falls below 1.50 :1.00 and (ii) prohibits the Company from paying dividends if the ratio is below 1.25 :1.00. The payment of dividends is also prohibited during potential default or default situations. Under the terms of the Hunter Mountain Credit Agreement, the occurrence of a change of control is an event of default. A change of control will be deemed to occur if (i) within two years after the effective date of the Hunter Mountain Credit Agreement, the Company’s named executive officers (Messrs. Boyd, Mueller and Deutsch) cease to beneficially own and control less than 50% of the amount of the Company’s outstanding voting stock that they own as of the effective date of the Hunter Mountain Credit Agreement, or (ii) the Company ceases to beneficially own and control less than all of the outstanding shares of voting stock of those subsidiaries which are borrowers under the Hunter Mountain Credit Agreement. Other events of default include, but are not limited to, a default on other indebtedness of the Company or its subsidiaries. The Hunter Mountain Note may not be prepaid without the consent of EPR. Upon an event of default, as defined in the Hunter Mountain Note, EPR may, among other things, declare all unpaid principal and interest due and payable. The Hunter Mountain Note matures on January 5, 2036. In connection with entry into the Hunter Mountain Credit Agreement on January 6, 2016, the Company entered into the Amended and Restated Master Cross-Default Agreement with EPR, which adds the Hunter Mountain Credit Agreement, Hunter Mountain Note and related transaction documents to the scope of loan agreements to which the cross-default provisions of the Master Cross Default Agreement apply. Also on January 6, 2016, in connection with entry into the Hunter Mountain Credit Agreement, the Company entered into a Guaranty Agreement for the benefit of EPR, which adds the Company’s new Hunter Mountain subsidiary borrowers under the Hunter Mountain Credit Agreement as guarantors pursuant to the same terms of the 2014 Guaranty Agreement and adds the debt evidenced by the Hunter Mountain Credit Agreement and Hunter Mountain Note to the debt guaranteed by the Company pursuant to the 2014 Guaranty Agreement. Substantially all of the Company’s assets serve as collateral for the Company’s long term debt. Future aggregate annual principal payments under all indebtedness reflected by fiscal year are as follows (in thousands):      2017 $ 1,225  2018 1,827  2019 757  2020 215  2021 2,820  Thereafter 114,161  $ 121,005  Deferred financing costs are net of accumulated amortization of $ 482 and $1 91 at April 30, 2016 and 2015, respectively. Amortization of deferred financing costs for the year ended April 30, 2016 was $291 Amortization of deferred financing costs will be $466 the year ending April 30, 2017 and $90 for each of the four years ending April 30, 2018, 2019 , 2020 and 2021 . Line of Credit The remaining $15.0 million of the Hunter Mountain acquisition price was financed with funds drawn on the Company’s line of credit with Royal Banks of Missouri pursuant to the Credit Facility, Loan and Security Agreement (the “Line of Credit Agreement”) between the Company and Royal Banks of Missouri, effective as of December 22, 2015. The Company drew an additional $0.5 million to pay closing costs. The Line of Credit Agreement provides for a 12 -month line of credit for up to $20.0 million to be used for acquisition purposes and working capital of up to 5.0% of the acquisition purchase price, subject to the Company’s ability to extend the line of credit for up to an additional 12-month period upon the satisfaction of certain conditions. In connection with entry into the Line of Credit Agreement, the Company executed a promissory note (the “Line of Credit Note”) in favor of Royal Banks of Missouri, maturing on December 22, 2016. The line of credit debt is included as a current liability given the initial 12-month term. Interest on the amounts borrowed are charged at the prime rate plus 1.0% , provided that past due amounts shall be subject to higher interest rates and late charges. The effective rate at April 30 , 2016 was 4.5% on the line of credit borrowings. Amounts outstanding under the Line of Credit Agreement are secured by the assets of each of the subsidiary borrowers under the Line of Credit Agreement. The Line of Credit Agreement includes restrictions or limitations on certain transactions, including mergers, acquisitions, leases, asset sales, loans to third parties, and the incurrence of certain additional debt and liens. Financial covenants set forth in the Line of Credit Agreement consist of a maximum leverage ratio (as defined in the Line of Credit Agreement) of 65% , above which the Company is prohibited from incurring additional indebtedness, and a debt service coverage ratio (as defined in the Line of Credit Agreement) of 1:25 to 1 on a fiscal year basis. The Company must also maintain a consolidated fixed charge coverage ratio (as defined in the Master Credit Agreement) which (i) requires the Company to increase the balance of its debt service reserve account if the Company’s consolidated fixed charge coverage ratio falls below 1.50 :1.00 and (ii) prohibits the Company from paying dividends if the ratio is below 1.25 :1.00. The payment of dividends is also prohibited during potential default or default situations. If the outstanding line of credit debt is not paid in full by the maturity date, and the Company is otherwise is full compliance with the terms and conditions of the Line of Credit Agreement and Line of Credit Note, the Company may elect to convert the outstanding line of credit debt to a three-year term loan, subject to an additional extension, with principal payments amortized over a 20-year period bearing interest at the prime rate plus 1.0% per annum. Except in the case of a default, the Company may prepay all or any portion of the outstanding line of credit debt and all accrued and unpaid interest due prior to the maturity date without prepayment penalty. In the case of a default, the outstanding Line of Credit Debt shall, at the lender’s option, bear interest at the rate of 5.0% percent per annum in excess of the interest rate otherwise payable thereon, which interest shall be payable on demand. Under the terms of the Line of Credit Agreement, the occurrence of a change of control is an event of default. A change of control will be deemed to occur if (i) for so long as the line of redit debt is outstanding and such individuals are employed by the Company, the Company’s key shareholders (Messrs. Timothy Boyd, Stephen Mueller and Richard Deutsch) cease to beneficially own and control less than 50% of the amount of the Company’s outstanding voting stock that they own as of the effective date of the Line of Credit Agreement, or (ii) the Company ceases to beneficially own and control less than all of the outstanding shares of voting stock of the subsidiary borrowers. Other events of default include, but are not limited to, a default on other indebtedness of the Company or its subsidiaries. Additional Interest Reserve T he Master Credit Agreement includes financial covenants consisting of a maximum Leverage Ratio (as defined in the Master Credit Agreement) of 65%, above which the Company and certain of its subsidiaries are prohibited from incurring additional indebtedness, and a Consolidated Fixed Charge Coverage Ratio (as defined in the Master Credit Agreement) covenant, which (a) requires the Company to increase the balance of its debt service reserve account if the Company's Consolidated Fixed Charge Coverage Ratio falls below 1.50:1.00, and (b) prohibits the Company from paying dividends if the ratio is below 1.25:1.00. The payment of dividends is also prohibited during default situations under the terms of the Master Credit Agreement. A s of the Company’s most recent fiscal year end, the Company’s fixed charge ratio fell below the 1:50:1:00 coverage ratio , but was above the 1.25:1.00 ratio. As a result, the Company is required to increase the balance of the Company’s debt service reserve account by $3.3 million. EPR has agreed to delay the additional interest reserve payment until the end of the 2016/2017 ski season.

Income Taxes

Income Taxes	12 Months Ended
	Apr. 30, 2016
Income Taxes [Abstract]
Income Taxes	Note 5. Income Taxes The provision for income taxes for the years ended April 30, 2016, 2015, and 2014 consists of the following (in thousands):     2016 2015 2014  Current:  Federal $ - $ - $ -  State taxes based on income - 168 50  - 168 50  Deferred:  Federal (1,753) (895) (635)  State (325) (51) 124  $ (2,078) $ (778) $ (461)  Deferred income taxes consist of the following at April 30, 2016 and 2015 (in thousands):    2016 2015  Deferred tax assets:  Deferred gain on sale/leaseback $ 1,194 $ 1,307  Accrued compensation 238 222  Unearned revenue 897 748  Net operating loss carryforwards 11,146 7,746  13,475 10,023   Deferred tax liabilities:  Property and equipment (25,055) (17,884)  (25,055) (17,884)  $ (11,580) $ (7,861)  Deferred income taxes are included in the April 30, 201 6 and 201 5 consolidated balance sheet as follows (in thousands):    2015 2014  Current assets $ 1,092 $ 970  Noncurrent liabilities (12,672) (8,831)  $ (11,580) $ (7,861)  Realization of deferred tax assets is dependent upon sufficient future taxable income during the period that the deductible temporary differences and carryforwards are expected to be available to reduce taxable income. Based on the reversal patterns of existing taxable temporary differences , the net deferred tax assets will be recovered. There was no valuation allowance deemed necessary.     Loss carryforwards for tax purposes as of April 30, 201 6 , have the following expiration dates (in thousands):    Amount  Expiration date  2019 $ 278  2031 16,227  2032 1,939  2033 2,907  2034 343  2035 8,217  $ 29,911  The Company accounts for income taxes in accordance with ASC 740, Income Taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized.  For fiscal years 2016, 2015, and 2014, the expected income tax rate differs from the statutory rate as follows (in thousands):    2016 2015 2014  Computed "expected" tax (benefit) $ (1,804) $ (895) $ (667)  Increase (decrease) in income tax (benefit) resulting from:  Permanent differences 38 41 46  State income tax (325) 60 174  Other 13 16 (14)  Income tax (benefit) $ (2,078) $ (778) $ (461)  In connection with the Company’s initial public offering in November 2014, a change of ownership in the Company occurred pursuant to the provisions of the Tax Reform Act of 1986. As a result, the Company’s usage of its net operating loss carryforwards will be limited each year; however, management believes the full benefit of those carryforwards will be realized prior to their respective expiration dates. The Company accounts for unrecognized tax benefits also in accordance with ASC 740, Income Taxes, which prescribes a minimum probability threshold that a tax position must meet before a financial statement benefit is recognized. The minimum threshold is defined as a tax position that is more likely than not to be sustained upon examination by the applicable taxing authority, including resolution to any related appeals or litigation, based solely on the technical merits of the position. The Company has no accrual for interest or penalties related to uncertain tax positions at April 30, 201 6 and 201 5 , and did not recognize interest or penalties in the Statements of Operations during the years ended April 30, 2016, 2015, and 2014.  The major jurisdictions in which the Company files income tax returns include the federal and state jurisdictions within the United States. The tax years after 2009 remain open to examination by federal and state taxing jurisdictions. However, the Company has NOLs beginning in 2001 which would cause the statute of limitations to remain open for the year in which the NOL was incurred.  Management regularly assesses the likelihood that its net deferred tax assets will be recovered from future taxable income. To the extent management believes that it is more likely than not that a net deferred tax asset will not be realized, a valuation allowance is established. When a valuation allowance is established or increased, an income tax charge is included in the consolidated financial statements and net deferred tax assets are adjusted accordingly. Changes in tax law, statutory tax rates, and estimates of the Company’s future taxable income levels could result in actual realization of the net deferred tax assets being materially different from the amounts provided for in the consolidated financial statements. If the actual recovery amount of the deferred tax asset is less than anticipated, the Company would be required to write off the remaining deferred tax asset and increase the tax provision, resulting in a reduction of net income and stockholders’ equity.  The Company does no t have any unrecognized tax benefits and has no t incurred any interest and penalties for fiscal years 2016, 2015, and 2014.

Acquisition

Acquisition	12 Months Ended
	Apr. 30, 2016
Acquisition [Abstract]
Acquisition	Note 6. Acquisition Hunter Mountain Effective January 6, 2016, the Company acquired all of the outstanding common stock of Hunter Mountain in Hunter, New York, for $35.0 million paid to the sellers in cash and the Company’s assumption of $1.7 million in capitalized lease obligations. The Company incurred approximately $0.1 million in transaction costs recorded within general and administrative expenses on the income statement. The company also incurred $1.3 million of financing costs which were capitalized as deferred financing costs associated with the debt obligations. The Company financed $20.0 million, of the acquisition price pursuant to the terms of the Hunter Mountain Credit Agreement and Hunter Mountain Note with EPR, which bears interest at a rate of 8.0% , subject to annual increases as discussed in Note 4, “Long-term Debt.” The Company borrowed an additional $1.0 million under the Hunter Mountain Credit Agreement to fund closing and other costs. Debt under the Hunter Mountain Note requires monthly interest payments until its maturity on January 5, 2036. An additional $15.0 million of the Hunter Mountain acquisition price was financed through a draw on the Company’s line of credit with Royal Banks of Missouri, which bears interest at the prime rate plus 1.0% and matures on December 22, 2016, as discussed in Note 4 above under the title “Line of Credit”. Hunter Mountain’s results of operations are included in the accompanying consolidated financial statements for the year ended April 30, 2016 from the date of acquisition. The preliminary allocation of the purchase price is as follows (in thousands):     Cash and cash equivalents $ 1,640  Income tax receivable 395  Inventories 341  Prepaids 246  Buildings and improvements 14,052  Land 6,200  Equipment 19,120  Other assets 4  Goodwill 4,382  Intangible assets 865  Total assets acquired 47,245  Accounts payable and accrued expenses 1,481  Accrued salaries, wages and related taxes & benefits 250  Unearned revenue and deposits 2,993  Capital Lease Obligations 1,724  Deferred tax liability 5,797  Net assets acquired $ 35,000   The purchase price allocation is preliminary, mainly due to continued review of the deferred tax liability and intangibles. The Company adjusted the purchase price allocation in the fourth quarter as a result of obtaining more information regarding the values of certain assets and liabilities. The adjustments were primarily to increase (decrease) Buildings and Improvements, Equipment, Intangible Assets, Goodwill, and the Deferred Tax Liability by $752 , $7,470 , $865 , $(6,280) , and $3,085 , respectively. The income statement effect related to these adjustments was not material.  The Company paid $35.0 million for the transaction and as part of the allocation received $1.6 million in cash, resulting in a net cash change of $33.4 million in cash. As part of the transaction, the Company has recognized goodwill associated with the expected synergies of combining operations as well as the overall enterprise value of the resort. No goodwill will arise for income tax purposes and accordingly, none of the book goodwill will be deductible for tax purposes. Hunter Mountain will be considered its own reporting unit with respect to goodwill impairment, which will be completed at least annually.  The revenue and net loss included in the accompanying consolidated statements of net loss resulting from the Hunter Mountain acquisition since the Acquisition Date (January 6, 2016) were $13,614 and $3,083 , respectively.  The following presents the unaudited pro forma consolidated financial information as if the acquisition of Hunter Mountain was completed on May 1, 2014, the beginning of the Company's 2015 fiscal year. The following pro forma financial information includes adjustments for depreciation and interest paid pursuant to the Hunter Mountain Note and property and equipment recorded at the date of acquisition. This pro forma financial information is presented for informational purposes only and does not purport to be indicative of the results of future operations or the results that would have occurred had the acquisition taken place on May 1, 2014. (In thousands except per share data)       Year ended April 30  2016 2015  Net revenues $ 102,860 $ 132,233  Net loss $ (9,776) $ (1,426)  Pro forma basis and diluted loss per share $ (0.70) $ (0.17)     

Sale_Leaseback

Sale/Leaseback	12 Months Ended
	Apr. 30, 2016
Sale/Leaseback [Abstract]
Sale/Leaseback	Note 7. Sale/Leaseback In November 2005, the Company sold Mad River Mountain and simultaneously leased the property back for a period of 21 years . The resultant gain was deferred and is being ratably recognized in income over the term of the lease. 

Employee Benefit Plan

Employee Benefit Plan	12 Months Ended
	Apr. 30, 2016
Employee Benefit Plan [Abstract]
Employee Benefit Plan	Note 8. Employee Benefit Plan  The Company maintains a tax-deferred savings plan for all eligible employees. Employees become eligible to participate after attaining the age of 21 and completing one year of service. Employee contributions to the plan are tax-deferred under Section 401(k) of the Internal Revenue Code of 1986, as amended. Company matching contributions are made at the discretion of the board of directors. No contributions were made in 2016, 2015 , and 2014.  On November 4, 2015, the Company’s board of directors adopted the Peak Resorts, Inc. 2014 Equity Incentive Plan (the “Incentive Plan”), and on November 5, 2014, the Company’s stockholders approved the Incentive Plan. The stockholders approved a maximum of 559,296 shares to be available for issuance under the Incentive Plan. The Incentive Plan authorizes the Company to grant stock options, stock appreciation rights, restricted stock, restricted stock units, stock bonuses, other stock based awards, cash awards, or any combination thereof, as defined in and allowed by the Incentive Plan. During fiscal 2016, the company issued 63,741 restricted stock units to independent directors, of which 5,334 were forfeited, resulting in a remaining balance of 500,889 shares available for issuance. The company has recorded compensation expense of $0.2 million associated with these awards during fiscal 2016.

Financial Instruments and Conce

Financial Instruments and Concentrations of Credit Risk	12 Months Ended
	Apr. 30, 2016
Financial Instruments and Concentrations of Credit Risk [Abstract]
Financial Instruments and Concentrations of Credit Risk	Note 9. Financial Instruments and Concentrations of Credit Risk The following methods and assumptions were used to estimate the fair value of each class of financial instruments to which the Company is a party: Cash and cash equivalents, restricted cash: Due to the highly liquid nature of the Company’s short ‑term investments, the carrying values of cash and cash equivalents and restricted cash approximate their fair values. Accounts receivable: The carrying value of accounts receivable approximate their fair value because of their short ‑term nature. Accounts payable and accrued expenses: The carrying value of accounts payable and accrued liabilities approximates fair value due to the short ‑ term maturities of these amounts. Long ‑term debt: The fair value of the Company’s long ‑term debt is estimated based on the quoted market prices for the same or similar issues or on the current rates offered to the Company for debt of the same remaining maturities. The interest rates on the Company’s long ‑term debt instruments are consistent with those currently available to the Company for borrowings with similar maturities and terms and, accordingly, their fair values are consistent with their carrying values. Concentrations of credit risk: The Company’s financial instruments that are exposed to concentrations of credit risk consist primarily of cash and cash equivalents and restricted cash. The Company’s cash and cash equivalents and restricted cash are on deposit with financial institutions where such balances will, at times, be in excess of federally insured limits. Excess cash balances are collateralized by the backing of government securities. The Company has not experienced any loss as a result of those deposits.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Apr. 30, 2016
Commitments and Contingencies [Abstract]
Commitments and Contingencies	Note 10. Commitments and Contingencies Restricted cash: The provisions of certain of the Company’s debt instruments generally require that the Company make and maintain a deposit, to be held in escrow for the benefit of the lender, in an amount equal to the estimated minimum interest payment for the upcoming fiscal year. In addition, the Company has funds it is holding in escrow in connection with its efforts to raise funds under the EB-5 Program. The Company intends to use the current and future funds for future development. Loss contingencies: The Company is periodically involved in various claims and legal proceedings, many of which occur in the normal course of business. Management routinely assesses the likelihood of adverse judgments or outcomes, including consideration of its insurable coverage and discloses or records estimated losses in accordance with ASC 450, “Contingencies”. After consultation with legal counsel, the Company does not anticipate that liabilities arising out of these claims would, if plaintiffs are successful, have a material adverse effect on its business, operating results or financial condition. Leases: The Company leases certain land, land improvements, buildings and equipment under non ‑cancelable operating leases. Certain of the leases contain escalation provisions based generally on changes in the CPI with maximum annual percentage increases capped at 1.5% to 4.5% . Additionally, certain leases contain contingent rental provisions which are based on revenue. The amount of contingent rentals was insignificant in all periods presented. Total rent expense under such operating leases was $1,732 , $1,756 , and $2,075 and for years ended April 30, 201 6 , 201 5 and 201 4 , respectively. The Company also leases certain equipment under capital leases. Future minimum rentals under all non ‑cancelable leases with remaining lease terms of one year or more for years subsequent to April 30, 201 6 are as follows (in thousands):    Capital Operating  Leases Leases  2017 $ 2,166 $ 1,657  2018 2,066 1,620  2019 1,922 1,576  2020 923 1,543  2021 23 1,518  Thereafter - 8,821  7,100 $ 16,735  Less: amount representing interest 984  6,116  Less: current portion 1,697  Long-term portion $ 4,419  Off-balance sheet arrangement : We do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to investors .

Earnings (Loss) Per Share

Earnings (Loss) Per Share	12 Months Ended
	Apr. 30, 2016
Earnings (Loss) Per Share [Abstract]
Earnings (Loss) Per Share	Note 11. Loss Per Share The computation of basic and diluted earnings (loss) per share for the years ended April 30, 201 6 , 201 5 and 201 4 is as follows (in thousands except share and per share data):     2016 2015 2014  Net loss $ (3,226) $ (1,854) $ (1,501)  Weighted number of shares:  Common shares outstanding for basic and diluted loss per share 13,982,400 8,420,756 3,982,400  Vested restricted stock units 12,893 - -  13,995,293 8,420,756 3,982,400  Basic and diluted loss per share $ (0.23) $ (0.22) $ (0.38)        Restricted stock units were granted during the year but the 19,515 outstanding unvested units have not been included in the calculation of diluted earnings per share because the impact is anti-dilutive due to the net loss for the year ended April 30, 2016. 

Selected Quarterly Financial Da

Selected Quarterly Financial Data	12 Months Ended
	Apr. 30, 2016
Selected Quarterly Financial Data [Abstract]
Selected Quarterly Financial Data	Note 12. Selected Quarterly Financial Data Selected quarterly financial data for the years ended April 30, 201 6 and 201 5 is as follows (in thousands, except for per share data):    2016  Quarter ended (unaudited)  Year ended April 30, 2016 April 30, 2016 January 31, 2016 October 31, 2015 July 31, 2015  Revenue $ 95,729 $ 45,475 $ 38,667 $ 6,155 $ 5,432  Other Operating Income-gain on involuntaay conversion 195 - 195 - -  Income (loss) from operations 5,169 14,174 8,833 (8,875) (8,963)  Net income (loss) $ (3,226) $ 7,041 $ 3,700 $ (6,888) $ (7,079)  Basic and diluted earnings (loss) per share $ (0.23) $ 0.50 $ 0.26 $ (0.49) $ (0.51)      2015  Quarter ended (unaudited)  Year ended April 30, 2015 April 30, 2015 January 31, 2015 October 31, 2014 July 31, 2014  Revenue $ 104,858 $ 47,047 $ 45,985 $ 6,230 $ 5,596  Other Operating Income-gain on settlement of lawsuit 2,100 - - 2,100 -  Income (loss) from operations 17,482 18,947 14,498 (6,887) (9,076)  Net income (loss) $ (1,854) $ 9,780 $ 3,269 $ (6,743) $ (8,160)  Basic and diluted earnings (loss) per share $ (0.22) $ 0.70 $ 0.27 $ (1.69) $ (2.05)  

Related Party Transactions

Related Party Transactions	12 Months Ended
	Apr. 30, 2016
Related Party Transactions [Abstract]
Related Party Transactions	Note 13. Related Party Transactions On October 30, 2007, the Company and certain of its subsidiaries entered into an Amended and Restated Credit and Security Agreement with EPT Ski Properties, Inc. pursuant to which EPT Ski Properties, Inc. provided the Company with a $31.0 million operating loan. This amount was later increased to $56.0 million upon the execution of the fifth amended and restated promissory note, dated July 13, 2012. Messrs. Boyd and Mueller and Richard Deutsch, the Company’s Chief Executive Officer, Chief Financial Officer and Chief Development and Acquisitions Officer, respectively, executed a Consent and Agreement of Guarantors on October 30, 2007 pursuant to which they each personally guaranteed payment of the amount due by the Company under, and satisfaction of all other obligations pursuant to, the Amended and Restated Credit and Security Agreement. See Note 4 to the consolidated financial statements for terms of the agreements. On November 10, 2014, the Company entered into a Restructure Agreement. As a part of the Agreement, the guaranty by Messrs. Boyd, Mueller and Deutsch terminated, and in its place the Company and certain of its subsidiaries guaranteed all of the Company’s obligations to EPR under the restructured loans .  In January 2016, a director was added to the Company’s board of directors. This director is a partner at a law firm utilized by the Company. In calendar year 2016, the company incurred expenses of $224 with the firm. 

Subsequent Events

Subsequent Events	12 Months Ended
	Apr. 30, 2016
Subsequent Events [Abstract]
Subsequent Events	Note 14. Subsequent Events The Company has received a commitment for a short term financing loan of $10 million from a lender, which the Company has not yet executed.   

Nature of Business and Signif23

Nature of Business and Significant Accounting Policies (Policy)	12 Months Ended
	Apr. 30, 2016
Nature of Business and Significant Accounting Policies [Abstract]
Description of Business	Description of business : Peak Resorts, Inc. (the “Company”) and its subsidiaries operate in a single business segment—ski resort operations. The Company’s ski resort operations consist of snow skiing, snowboarding and snow sports areas in Wildwood and Weston, Missouri; Bellefontaine and Cleveland, Ohio; Paoli, Indiana; Blakeslee and Lake Harmony, Pennsylvania; Bartlett, Bennington and Pinkham Notch, New Hampshire; West Dover, Vermont; and Hunter, New York and an 18 hole golf course in West Dover, Vermont. The Company also manages hotels in Bartlett, New Hampshire; West Dover, Vermont and Hunter, New York.  The Company's revenues are highly seasonal in nature. The vast majority of revenues are generated during the ski season, which occurs during the third and fourth fiscal quarters. Operations occurring outside of the ski season typically result in losses and negative cash flows. Additionally, operations on certain holidays contribute significantly to the Company's revenues, most notably Christmas, Dr. Martin Luther King, Jr. Day and Presidents Day.  The seasonality of the Company's revenues amplifies the effect on the Company's revenues, operating earnings and cash flows of events that are outside the Company's control. While the Company's geographically diverse operating locations help mitigate its effects, adverse weather conditions could limit customer access to the Company's resorts, render snowmaking wholly or partially ineffective in maintaining ski conditions, cause increased energy use and other operating costs related to snowmaking efforts and, in general, can result in decreased skier visits regardless of ski conditions.  The Company’s operating segments are aggregated into a single reportable segment. Management has determined a single reportable segment is appropriate based on the uniformity of services and similar operating characteristics .
Principles of consolidation
Use of estimates	Use of estimates : The preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts and disclosures reported in the consolidated financial statements and accompanying notes. Significant items subject to estimates and assumptions include the carrying value of property and equipment, and land held for development. As future events and their effects cannot be determined with certainty, actual results could differ significantly from those estimates.
Statements of cash flows	Statements of cash flows : For purposes of the statements of cash flows, the Company considers all highly liquid debt instruments purchased with an original maturity of three months or less to be cash equivalents.  Additionally, all credit card and debit card transactions that process in less than seven days are classified as cash and cash equivalents. The majority of payments due from banks for third-party credit card and debit card transactions process within 24 to 48 hours, except for transactions occurring on a Friday, which are generally processed the following Monday. The amounts due from banks for these transactions classified as cash and cash equivalents totaled $1,841 and $1,386 at April 30, 201 6 and 201 5 , respectively.
Restricted cash	Restricted cash : The provisions of certain of the Company's debt instruments generally require that the Company make and maintain a deposit, to be held in escrow for the benefit of the lender, in an amount equal to the estimated minimum interest payment through December 31 of each fiscal year. In the absence of an event of default under the Company's promissory notes, the requirement to maintain such a deposit is eliminated when the Mount Snow Development Debt discussed in Note 4 is repaid in full. Restricted cash at April 30, 2016 and 2015 is comprised of the interest related escrow balances and EB-5 investors funds held in escrow.  In addition, the Company has funds it is holding in escrow in connection with its efforts to raise funds under the U.S. government's Immigrant Investor Program, commonly known as the EB-5 program (the “EB-5 Program”). The EB-5 Program was first enacted in 1992 to stimulate the U.S. economy through the creation of jobs and capital investments in U.S. companies by foreign investors. In turn, these foreign investors are, pending petition approval, granted visas for lawful residence in the U.S. Under the EB-5 Program, a limited number of visas are reserved for such foreign investors each year. Cash and cash equivalents, restricted cash: Due to the highly liquid nature of the Company’s short ‑term investments, the carrying values of cash and cash equivalents and restricted cash approximate their fair values. Restricted cash: The provisions of certain of the Company’s debt instruments generally require that the Company make and maintain a deposit, to be held in escrow for the benefit of the lender, in an amount equal to the estimated minimum interest payment for the upcoming fiscal year. In addition, the Company has funds it is holding in escrow in connection with its efforts to raise funds under the EB-5 Program. The Company intends to use the current and future funds for future development.
Reserve for uncollectible accounts receivable	Reserve for uncollectible accounts receivable : The Company performs ongoing reviews of the collectability of accounts receivable and, if considered necessary, establishes a reserve for estimated credit losses. In assessing the need for and in determining the amount of any reserve for credit losses, the Company considers the level of historical bad debts, the credit worthiness of significant debtors based on periodic credit evaluations and significant economic developments that could adversely impact upon a customer's ability to pay amounts owed the Company.
Inventory	Inventory : Inventory is stated at the lower of cost (first-in, first-out method) or market and consists primarily of retail goods, food and beverage products.
Property and equipment	Property and equipment : Property and equipment is carried at cost net of accumulated depreciation, amortization and impairment charges, if any. Costs to construct significant assets include capitalized interest during the construction and development period. Expenditures for replacements and major betterments or improvements are capitalized; maintenance and repair expenditures are charged to expense as incurred. Depreciation and amortization are determined using both straight-line and accelerated methods over estimated useful lives ranging from 3 to 25 years for land improvements, 5 to 40 years for building and improvements and 3 to 25 years for equipment, furniture and fixtures.
Land held for development	Land held for development : The land held for development is carried in the accompanying consolidated balance sheets at acquisition cost plus costs attributable to its development, including capitalized interest as part of this ongoing development.
Deferred development and financing costs	Deferred development costs : Costs related to major development projects at the Company's ski resorts, including planning, engineering and permitting, are capitalized. When acquiring, developing and constructing real estate assets, the Company capitalizes costs. Capitalization begins when the activities related to development have begun and ceases when activities are substantially complete and the asset is available for use. Costs capitalized include permits, licenses, fees, legal costs, interest, development, and construction costs.  Deferred financing costs : Debt issuance expenses, included in long-term debt in the accompanying consolidated balance sheets, incurred in connection with certain mortgage indebtedness are being amortized under the straight-line basis which approximates the interest method over the term of the related debt.
Goodwill and Intangible Assets	Goodwill and Intangible Assets: Go odwill represents the excess of the purchase price over the fair value of net assets acquired in a business combination. Goodwill is not amortized, but is tested for impairment annually as of March 31 and at any time when events or circumstances suggest impairment may have occurred. The Company’s resorts are reporting units and two reporting units have goodwill. The testing for impairment consists first of an assessment of qualitative factors to determine whether it is necessary to perform a quantitative goodwill impairment test. The Company will determine, based on a qualitative assessment, whether it is more likely than not that its fair value is less than its carrying amount. If the qualitative assessment determines it is more likely than not that the fair value is less than the carrying amount, a quantitative assessment would then be completed. If, based on the quantitative analysis, the carrying amount of the reporting unit, including goodwill, exceeds the fair value, an impairment will be recognized equal to the difference between the carrying value of the reporting unit goodwill and the implied fair value of the goodwill. For the quantitative testing of goodwill for impairment, the Company determines the estimated fair value of its reporting units based upon a discounted future cash flow analysis . During 2016 and 2015, the company determined no impairment existed.  With the recent Hunter Mountain acquisition, the Company now has recorded two intangible assets. The intangible assets are customer relationships and trade names. Both of these assets are definite-lived assets and have estimated useful lives of 15 years. The Company will utilize straight-line amortization for these intangibles. The intangibles were valued at their fair value at the acquisition date using discounted cash flow models.
Long-lived Assets	Long-lived Assets: The Company evaluates potential impairment of long-lived assets and long-lived assets to be disposed of whenever events or changes in circumstances indicate that the carrying amount of an asset may not be fully recoverable. If the sum of the expected cash flows, on an undiscounted basis, is less than the carrying amount of the asset, an impairment loss is recognized in the amount by which the carrying amount of the asset exceeds its fair value. The Company does not believe any events or changes in circumstances indicating an impairment of the carrying amount of a long-lived asset occurred during the years ended April 30, 2016 , 2015 and 2014 .
Business combinations	Business combinations : Historical acquisitions were accounted for as purchase transactions. Accordingly, the assets and liabilities of acquired entities were recorded at their estimated fair values at the dates of the acquisitions.
Revenue recognition	Revenue recognition : Revenues from operations are generated from a wide variety of sources including snow pass sales, snow sports lessons, equipment rentals, retail product sales, food and beverage operations, and golf course operations. Revenues are recognized as services are provided or products are sold. Sales of season passes are initially deferred in unearned revenue and recognized ratably over the expected ski season which typically runs from early December to mid-April.
Advertising costs	Advertising costs : Advertising costs are expensed at the time such advertising commences. Advertising expense for the years ended April 30, 2016, 2015, and 2014 was $ 2,784 , $ 2,155 , and $ 2,206 , respectively.
Taxes collected from customers	Taxes collected from customers : Taxes collected from customers and remitted to tax authorities are local and state sales taxes on snow pass sales as well as food service and retail transactions at the Company's resorts. Sales taxes collected from customers are recognized as a liability, with such liability being reduced when collected amounts are remitted to the taxing authority.
Income taxes	Income taxes : Deferred income tax assets and liabilities are measured at enacted tax rates in the respective jurisdictions where the Company operates. In assessing the ability to realize deferred tax assets, the Company considers whether it is more likely than not that some portion or all deferred tax assets will not be realized and a valuation allowance would be provided if necessary.  The Financial Accounting Standards Board (“FASB”) Accounting Standards Codification Topic 740, “Income Taxes”, also provides guidance with respect to the accounting for uncertainty in income taxes recognized in a Company’s consolidated financial statements, and it prescribes a recognition threshold and measurement attribute criteria for the consolidated financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The Company does not have any material uncertain tax positions.  With few exceptions, the Company is no longer subject to U.S. federal, state and local income tax examinations by tax authorities for years before 20 12 due to the statute of limitations .  The Company’s policy is to accrue income tax related interest and penalties, if applicable, within income tax expense.

Financial Instruments and Con24

Financial Instruments and Concentrations of Credit Risk (Policy)	12 Months Ended
	Apr. 30, 2016
Financial Instruments and Concentrations of Credit Risk
Restricted cash	Restricted cash : The provisions of certain of the Company's debt instruments generally require that the Company make and maintain a deposit, to be held in escrow for the benefit of the lender, in an amount equal to the estimated minimum interest payment through December 31 of each fiscal year. In the absence of an event of default under the Company's promissory notes, the requirement to maintain such a deposit is eliminated when the Mount Snow Development Debt discussed in Note 4 is repaid in full. Restricted cash at April 30, 2016 and 2015 is comprised of the interest related escrow balances and EB-5 investors funds held in escrow.  In addition, the Company has funds it is holding in escrow in connection with its efforts to raise funds under the U.S. government's Immigrant Investor Program, commonly known as the EB-5 program (the “EB-5 Program”). The EB-5 Program was first enacted in 1992 to stimulate the U.S. economy through the creation of jobs and capital investments in U.S. companies by foreign investors. In turn, these foreign investors are, pending petition approval, granted visas for lawful residence in the U.S. Under the EB-5 Program, a limited number of visas are reserved for such foreign investors each year. Cash and cash equivalents, restricted cash: Due to the highly liquid nature of the Company’s short ‑term investments, the carrying values of cash and cash equivalents and restricted cash approximate their fair values. Restricted cash: The provisions of certain of the Company’s debt instruments generally require that the Company make and maintain a deposit, to be held in escrow for the benefit of the lender, in an amount equal to the estimated minimum interest payment for the upcoming fiscal year. In addition, the Company has funds it is holding in escrow in connection with its efforts to raise funds under the EB-5 Program. The Company intends to use the current and future funds for future development.
Accounts receivable	Accounts receivable: The carrying value of accounts receivable approximate their fair value because of their short ‑term nature.
Accounts payable and accrued expenses	Accounts payable and accrued expenses: The carrying value of accounts payable and accrued liabilities approximates fair value due to the short ‑ term maturities of these amounts.
Long-term debt	Long ‑term debt: The fair value of the Company’s long ‑term debt is estimated based on the quoted market prices for the same or similar issues or on the current rates offered to the Company for debt of the same remaining maturities. The interest rates on the Company’s long ‑term debt instruments are consistent with those currently available to the Company for borrowings with similar maturities and terms and, accordingly, their fair values are consistent with their carrying values.
Concentrations of credit risk	Concentrations of credit risk: The Company’s financial instruments that are exposed to concentrations of credit risk consist primarily of cash and cash equivalents and restricted cash. The Company’s cash and cash equivalents and restricted cash are on deposit with financial institutions where such balances will, at times, be in excess of federally insured limits. Excess cash balances are collateralized by the backing of government securities. The Company has not experienced any loss as a result of those deposits.

Commitments and Contingencies (

Commitments and Contingencies (Policy)	12 Months Ended
	Apr. 30, 2016
Commitments and Contingencies [Abstract]
Restricted cash	Restricted cash : The provisions of certain of the Company's debt instruments generally require that the Company make and maintain a deposit, to be held in escrow for the benefit of the lender, in an amount equal to the estimated minimum interest payment through December 31 of each fiscal year. In the absence of an event of default under the Company's promissory notes, the requirement to maintain such a deposit is eliminated when the Mount Snow Development Debt discussed in Note 4 is repaid in full. Restricted cash at April 30, 2016 and 2015 is comprised of the interest related escrow balances and EB-5 investors funds held in escrow.  In addition, the Company has funds it is holding in escrow in connection with its efforts to raise funds under the U.S. government's Immigrant Investor Program, commonly known as the EB-5 program (the “EB-5 Program”). The EB-5 Program was first enacted in 1992 to stimulate the U.S. economy through the creation of jobs and capital investments in U.S. companies by foreign investors. In turn, these foreign investors are, pending petition approval, granted visas for lawful residence in the U.S. Under the EB-5 Program, a limited number of visas are reserved for such foreign investors each year. Cash and cash equivalents, restricted cash: Due to the highly liquid nature of the Company’s short ‑term investments, the carrying values of cash and cash equivalents and restricted cash approximate their fair values. Restricted cash: The provisions of certain of the Company’s debt instruments generally require that the Company make and maintain a deposit, to be held in escrow for the benefit of the lender, in an amount equal to the estimated minimum interest payment for the upcoming fiscal year. In addition, the Company has funds it is holding in escrow in connection with its efforts to raise funds under the EB-5 Program. The Company intends to use the current and future funds for future development.
Loss contingencies	Loss contingencies: The Company is periodically involved in various claims and legal proceedings, many of which occur in the normal course of business. Management routinely assesses the likelihood of adverse judgments or outcomes, including consideration of its insurable coverage and discloses or records estimated losses in accordance with ASC 450, “Contingencies”. After consultation with legal counsel, the Company does not anticipate that liabilities arising out of these claims would, if plaintiffs are successful, have a material adverse effect on its business, operating results or financial condition.
Leases	Leases: The Company leases certain land, land improvements, buildings and equipment under non ‑cancelable operating leases. Certain of the leases contain escalation provisions based generally on changes in the CPI with maximum annual percentage increases capped at 1.5% to 4.5% . Additionally, certain leases contain contingent rental provisions which are based on revenue. The amount of contingent rentals was insignificant in all periods presented. Total rent expense under such operating leases was $1,732 , $1,756 , and $2,075 and for years ended April 30, 201 6 , 201 5 and 201 4 , respectively. The Company also leases certain equipment under capital leases. Future minimum rentals under all non ‑cancelable leases with remaining lease terms of one year or more for years subsequent to April 30, 201 6 are as follows (in thousands):    Capital Operating  Leases Leases  2017 $ 2,166 $ 1,657  2018 2,066 1,620  2019 1,922 1,576  2020 923 1,543  2021 23 1,518  Thereafter - 8,821  7,100 $ 16,735  Less: amount representing interest 984  6,116  Less: current portion 1,697  Long-term portion $ 4,419 
Off-balance Sheet Arrangement	Off-balance sheet arrangement : We do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to investors .

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Apr. 30, 2016
Property and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment consists of the following at April 30, 201 6 and 201 5 (dollars in thousands):    2016 2015  Land and improvements $ 35,321 $ 28,197  Buildings and improvements 86,914 72,351  Equipment, furniture and fixtures 163,373 126,853  285,608 227,401  Less: accumulated depreciation and amortization 93,430 83,457  $ 192,178 $ 143,944 

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	12 Months Ended
	Apr. 30, 2016
Goodwill and Intangible Assets [Abstract]
Schedule of Finite-Lived Intangible Assets [Table Text Block]	The Intangible assets at April 30, 2016 consisted of the following:    Year ended April 30, 2016  Life (years) Gross carrying amount Accumulated amortization Net book value   Trade name 15 $ 768 $ 17 $ 751  Customer relationships 15 97 2 95  $ 865 $ 19 $ 846 

Long-term Debt (Tables)

Long-term Debt (Tables)	12 Months Ended
	Apr. 30, 2016
Long-term Debt [Abstract]
Schedule of Long-term Debt	Long ‑ term debt at April 30, 2016 and 2015 consisted of borrowings pursuant to the loans and other credit facilities discussed below, as follows (dollars in thousands):     2016 2015  Attitash/Mount Snow Debt; payable in monthly interest only payments at an increasing interest rate ( 11.10% at April 30, 2016 and 10.93% at April 30, 2015); remaining principal and interest due on December 1, 2034 $ 51,050 $ 51,050  Credit Facility Debt; payable in monthly interest only payments at an increasing interest rate ( 10.13% at April 30, 2016 and 2015); remaining principal and interest due on December 1, 2034 37,562 37,562  Hunter Mountain debt; payable in monthly interest only payments at an increasing interest rate ( 8.0% at April 30, 2016); remaining principal and interest due on January 5, 2036 21,000 -  Sycamore Lake (Alpine Valley) Debt; payable in monthly interest only payments at an increasing interest rate ( 10.56% at April 30, 2016 and 10.40% at April 30, 2016); remaining principal and interest due on December 1, 2034 4,550 4,550  Wildcat Mountain Debt; payable in monthly installments of $27 , including interest at a rate of 4.00% , with remaining principal and interest due on December 22, 2020 3,612 3,790  Other debt 3,231 1,931   Less unamortized debt issuance costs (1,903) (811)   119,102 98,072  Less: current maturities 759 503  $ 118,343 $ 97,569 
Schedule of Future Potential Interest Rates of Fluctuating Rate Debt	The table below illustrates the potential interest rates applicable to the Company’s fluctuating interest rate debt for each of the next five years, assuming an effective rate increase by the Capped CPI Index:      Rates as of April 30, Attitash/Mount Snow Debt Credit Facility Debt Hunter Mountain Debt Sycamore Lake/(Alpine Valley) Debt  2016 11.10% 10.13% 8.00% 10.56%  2017 11.27% 10.28% 8.14% 10.72%  2018 11.44% 10.44% 8.28% 10.88%  2019 11.61% 10.59% 8.43% 11.04%  2020 11.78% 10.75% 8.57% 11.21%  2021 11.96% 10.91% 8.72% 11.38%   (1) For 2016, the dates of the rates presented are as follows: (i) April 1, 2016 for the Attitash/Mount Snow Debt; (ii) October 1, 2015 for the Credit Facility Debt; (iii) January 6, 2016 for Hunter Mountain Debt and (iv) December 1, 2015 for the Sycamore Lake (Alpine Valley) Debt.
Schedule of Aggregate Annual Principal Payments on Long-term Debt	Future aggregate annual principal payments under all indebtedness reflected by fiscal year are as follows (in thousands):      2017 $ 1,225  2018 1,827  2019 757  2020 215  2021 2,820  Thereafter 114,161  $ 121,005 

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Apr. 30, 2016
Income Taxes [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	The provision for income taxes for the years ended April 30, 2016, 2015, and 2014 consists of the following (in thousands):     2016 2015 2014  Current:  Federal $ - $ - $ -  State taxes based on income - 168 50  - 168 50  Deferred:  Federal (1,753) (895) (635)  State (325) (51) 124  $ (2,078) $ (778) $ (461) 
Schedule of Deferred Tax Assets and Liabilities	Deferred income taxes consist of the following at April 30, 2016 and 2015 (in thousands):    2016 2015  Deferred tax assets:  Deferred gain on sale/leaseback $ 1,194 $ 1,307  Accrued compensation 238 222  Unearned revenue 897 748  Net operating loss carryforwards 11,146 7,746  13,475 10,023   Deferred tax liabilities:  Property and equipment (25,055) (17,884)  (25,055) (17,884)  $ (11,580) $ (7,861)  Deferred income taxes are included in the April 30, 201 6 and 201 5 consolidated balance sheet as follows (in thousands):    2015 2014  Current assets $ 1,092 $ 970  Noncurrent liabilities (12,672) (8,831)  $ (11,580) $ (7,861) 
Summary of Tax Credit Carryforwards	    Loss carryforwards for tax purposes as of April 30, 201 6 , have the following expiration dates (in thousands):    Amount  Expiration date  2019 $ 278  2031 16,227  2032 1,939  2033 2,907  2034 343  2035 8,217  $ 29,911 
Schedule of Effective Income Tax Rate Reconciliation	For fiscal years 2016, 2015, and 2014, the expected income tax rate differs from the statutory rate as follows (in thousands):    2016 2015 2014  Computed "expected" tax (benefit) $ (1,804) $ (895) $ (667)  Increase (decrease) in income tax (benefit) resulting from:  Permanent differences 38 41 46  State income tax (325) 60 174  Other 13 16 (14)  Income tax (benefit) $ (2,078) $ (778) $ (461) 

Acquisition (Tables)

Acquisition (Tables) - Hunter Mountain [Member]	12 Months Ended
	Apr. 30, 2016
Schedule of Purchase Price Allocation	Hunter Mountain’s results of operations are included in the accompanying consolidated financial statements for the year ended April 30, 2016 from the date of acquisition. The preliminary allocation of the purchase price is as follows (in thousands):     Cash and cash equivalents $ 1,640  Income tax receivable 395  Inventories 341  Prepaids 246  Buildings and improvements 14,052  Land 6,200  Equipment 19,120  Other assets 4  Goodwill 4,382  Intangible assets 865  Total assets acquired 47,245  Accounts payable and accrued expenses 1,481  Accrued salaries, wages and related taxes & benefits 250  Unearned revenue and deposits 2,993  Capital Lease Obligations 1,724  Deferred tax liability 5,797  Net assets acquired $ 35,000 
Business Acquisition, Pro Forma Information	   Year ended April 30  2016 2015  Net revenues $ 102,860 $ 132,233  Net loss $ (9,776) $ (1,426)  Pro forma basis and diluted loss per share $ (0.70) $ (0.17)  

Commitments and Contingencies31

Commitments and Contingencies (Tables)	12 Months Ended
	Apr. 30, 2016
Commitments and Contingencies [Abstract]
Schedule of Future Minimum Rental Payments	Future minimum rentals under all non ‑cancelable leases with remaining lease terms of one year or more for years subsequent to April 30, 201 6 are as follows (in thousands):    Capital Operating  Leases Leases  2017 $ 2,166 $ 1,657  2018 2,066 1,620  2019 1,922 1,576  2020 923 1,543  2021 23 1,518  Thereafter - 8,821  7,100 $ 16,735  Less: amount representing interest 984  6,116  Less: current portion 1,697  Long-term portion $ 4,419 

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	12 Months Ended
	Apr. 30, 2016
Earnings (Loss) Per Share [Abstract]
Schedule of Earnings (Loss) Per Share	The computation of basic and diluted earnings (loss) per share for the years ended April 30, 201 6 , 201 5 and 201 4 is as follows (in thousands except share and per share data):     2016 2015 2014  Net loss $ (3,226) $ (1,854) $ (1,501)  Weighted number of shares:  Common shares outstanding for basic and diluted loss per share 13,982,400 8,420,756 3,982,400  Vested restricted stock units 12,893 - -  13,995,293 8,420,756 3,982,400  Basic and diluted loss per share $ (0.23) $ (0.22) $ (0.38) 

Selected Quaterly Financial Dat

Selected Quaterly Financial Data (Tables)	12 Months Ended
	Apr. 30, 2016
Selected Quarterly Financial Data [Abstract]
Schedule of Quarterly Financial Information	Selected quarterly financial data for the years ended April 30, 201 6 and 201 5 is as follows (in thousands, except for per share data):    2016  Quarter ended (unaudited)  Year ended April 30, 2016 April 30, 2016 January 31, 2016 October 31, 2015 July 31, 2015  Revenue $ 95,729 $ 45,475 $ 38,667 $ 6,155 $ 5,432  Other Operating Income-gain on involuntaay conversion 195 - 195 - -  Income (loss) from operations 5,169 14,174 8,833 (8,875) (8,963)  Net income (loss) $ (3,226) $ 7,041 $ 3,700 $ (6,888) $ (7,079)  Basic and diluted earnings (loss) per share $ (0.23) $ 0.50 $ 0.26 $ (0.49) $ (0.51)      2015  Quarter ended (unaudited)  Year ended April 30, 2015 April 30, 2015 January 31, 2015 October 31, 2014 July 31, 2014  Revenue $ 104,858 $ 47,047 $ 45,985 $ 6,230 $ 5,596  Other Operating Income-gain on settlement of lawsuit 2,100 - - 2,100 -  Income (loss) from operations 17,482 18,947 14,498 (6,887) (9,076)  Net income (loss) $ (1,854) $ 9,780 $ 3,269 $ (6,743) $ (8,160)  Basic and diluted earnings (loss) per share $ (0.22) $ 0.70 $ 0.27 $ (1.69) $ (2.05) 

Nature of Business and Signif34

Nature of Business and Significant Accounting Policies (Narrative) (Details) $ in Thousands	12 Months Ended
	Apr. 30, 2016USD ($)segment	Apr. 30, 2015USD ($)	Apr. 30, 2014USD ($)
Number of business segments | segment	1
Number of reportable segments | segment	1
Due from banks | $	$ 1,841	$ 1,386
Advertising costs | $	$ 2,784	$ 2,155	$ 2,206
Minimum [Member] | Land Improvements [Member]
Property and equipment, useful life	3 years
Minimum [Member] | Building and Building Improvements [Member]
Property and equipment, useful life	5 years
Minimum [Member] | Furniture and Fixtures [Member]
Property and equipment, useful life	3 years
Maximum [Member] | Land Improvements [Member]
Property and equipment, useful life	25 years
Maximum [Member] | Building and Building Improvements [Member]
Property and equipment, useful life	40 years
Maximum [Member] | Furniture and Fixtures [Member]
Property and equipment, useful life	25 years

Property and Equipment (Narrati

Property and Equipment (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2016	Apr. 30, 2015	Apr. 30, 2014
Property and Equipment [Abstract]
Capitalized equipment, gross	$ 7,668	$ 2,804
Capitalized equipment, accumulated depreciation	800	425
Depreciation expense	$ 10,690	$ 9,450	$ 9,155

Property and Equipment (Schedul

Property and Equipment (Schedule of Property and Equipment) (Details) - USD ($) $ in Thousands	Apr. 30, 2016	Apr. 30, 2015
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 285,608	$ 227,401
Less: accumulated depreciation and amortization	93,430	83,457
Property and equipment, net	192,178	143,944
Land and Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	35,321	28,197
Building and Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	86,914	72,351
Equipment, Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 163,373	$ 126,853

Goodwill and Intangible Asset37

Goodwill and Intangible Assets (Schedule of Other Assets) (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2016	Jan. 06, 2016	Apr. 30, 2015
Goodwill	$ 5,009		$ 627
Intangible Assets, Gross	865
Intangible Assets, Accumulated amortization	19
Intangible Assets, Net bok value	846
Amortization of Intangible Assets	19
Amortization expense next five years	$ 58
Trade Names [Member]
Intangible Assets, Life (Years)	15 years
Intangible Assets, Gross	$ 768
Intangible Assets, Accumulated amortization	17
Intangible Assets, Net bok value	$ 751
Customer Relationships [Member]
Intangible Assets, Life (Years)	15 years
Intangible Assets, Gross	$ 97
Intangible Assets, Accumulated amortization	2
Intangible Assets, Net bok value	95
Hunter Mountain [Member]
Goodwill	$ 4,382	$ 4,382

Long-term Debt (Narrative) (Det

Long-term Debt (Narrative) (Details)	Jan. 06, 2016USD ($)	Dec. 01, 2014USD ($)item	Nov. 10, 2014USD ($)	Apr. 30, 2016USD ($)	Apr. 30, 2015USD ($)	Apr. 30, 2014USD ($)	Oct. 30, 2007USD ($)
Debt Instrument [Line Items]
Capped Consumer Price Index (CPI)				1.5
Long-term debt, gross				$ 121,005,000
Long-term debt				119,102,000	$ 98,072,000
Accumulated amortization, deferred finance costs				482,000	191,000
Amortization of financing costs				291,000	$ 141,000	$ 52,000
Increase to debt service reserve account				3,300,000
Hunter Mountain [Member]
Debt Instrument [Line Items]
Payments to Acquire Businesses, Gross	$ 35,000,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Capital Lease Obligation	1,724,000
Debt Restructure With Certain Affiliates of EPR Properties [Member]
Debt Instrument [Line Items]
Additional interest payment in period				$ 200,000
Repayments of secured debt			$ 75,800,000
Debt instrument, fee amount		$ 5,000,000
Transaction benchmark amount		$ 250,000,000
Potential number of lease terms | item		2
Potential lease term duration		20 years
Period of agreement		7 years
Additional lease term duration		10 years
Loan to value ratio benchmark		60.00%
Maximum leverage ratio per agreement				65.00%
Fixed coverage ratio minimum to increase reserve				1.50
Fixed coverage ratio minimum to prohibit paying dividends				1.25
Debt Restructure, Other Than Attitash/Mount Snow Debt [Member]
Debt Instrument [Line Items]
Additional payment, interest rate				10.00%
Loans Payable [Member]
Debt Instrument [Line Items]
Long-term debt				$ 56,000,000			$ 31,000,000
Attitash/Mount Snow Debt [Member] | Debt Restructure With Certain Affiliates of EPR Properties [Member]
Debt Instrument [Line Items]
Additional payment, interest rate				12.00%
Attitash/Mount Snow Debt [Member] | Loans Payable [Member]
Debt Instrument [Line Items]
Long-term debt, maturity date				Dec. 1, 2034
Long-term debt, interest rate				11.10%	10.93%
Long-term debt, gross				$ 51,050,000	$ 51,050,000
Credit Facility Debt [Member] | Loans Payable [Member]
Debt Instrument [Line Items]
Long-term debt, maturity date				Dec. 1, 2034
Long-term debt, interest rate				10.13%	10.13%
Long-term debt, gross				$ 37,562,000	$ 37,562,000
JFBB Debt [Member] | Loans Payable [Member]
Debt Instrument [Line Items]
Long-term debt, gross				23,300,000	23,300,000
Boston Mills Brandywine Debt [Member] | Loans Payable [Member]
Debt Instrument [Line Items]
Long-term debt, gross				$ 14,300,000	$ 14,300,000
Hunter Mountain Debt [Member] | Hunter Mountain [Member]
Debt Instrument [Line Items]
Debt allocated to financing business acquisition	20,000,000
Debt Instrument Carrying Amount Allocated To Business Acquisition Closing Costs	1,000,000
Hunter Mountain Debt [Member] | Hunter Mountain [Member] | Royal Banks Of Missouri [Member] | Line of Credit [Member]
Debt Instrument [Line Items]
Debt allocated to financing business acquisition	$ 15,000,000
Hunter Mountain Debt [Member] | Hunter Mountain [Member] | Royal Banks Of Missouri [Member] | Line of Credit [Member] | Prime Rate [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.00%
Hunter Mountain Debt [Member] | Notes Payable, Other Payables [Member]
Debt Instrument [Line Items]
Long-term debt, maturity date				Jan. 5, 2036
Additional Interest Rate On Gross Receipts Over Benchmark				8.00%
Gross Reciepts Benchmark				$ 35,000,000
Long-term debt, interest rate				8.00%
Potential debt instrument past due stated percentage rate				1.75%
Long-term debt, gross				$ 21,000,000
Maximum leverage coverage ratio				65.00%
Fixed coverage ratio minimum to increase reserve				1.50
Fixed coverage ratio minimum to prohibit paying dividends				1.25
Sycamore Lake (Alpine Valley) [Member] | Loans Payable [Member]
Debt Instrument [Line Items]
Long-term debt, maturity date				Dec. 1, 2034
Long-term debt, interest rate				10.56%	10.40%
Long-term debt, gross				$ 4,550,000	$ 4,550,000
Wildcat Mountain Debt [Member] | Notes Payable, Other Payables [Member]
Debt Instrument [Line Items]
Long-term debt, maturity date				Dec. 22, 2020
Long-term debt, interest rate				4.00%
Long-term debt, gross				$ 3,612,000	3,790,000
Wildcat Note [Member]
Debt Instrument [Line Items]
Amount borrowed pursuant to a loan agreement				$ 4,500,000
Wildcat Note [Member] | Notes Payable, Other Payables [Member]
Debt Instrument [Line Items]
Long-term debt, interest rate				4.00%
Other Debt [Member] | Other Debt [Member]
Debt Instrument [Line Items]
Long-term debt, gross				$ 3,231,000	$ 1,931,000
Line Of Credit Agreement [Member] | Royal Banks Of Missouri [Member] | Line of Credit [Member]
Debt Instrument [Line Items]
Debt Instrument, Term				12 months
Maximum borrowing capacity				$ 20,000,000
Line Of Credit Facility Amount Of Credit To Be Used As Working Capital				5.00%
Long-term debt, interest rate				4.50%
Maximum leverage coverage ratio				65.00%
Fixed coverage ratio minimum to increase reserve				1.50
Fixed coverage ratio minimum to prohibit paying dividends				1.25
Line Of Credit Agreement [Member] | Royal Banks Of Missouri [Member] | Line of Credit [Member] | Prime Rate [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				1.00%
Line Of Credit Agreement [Member] | Hunter Mountain [Member] | Royal Banks Of Missouri [Member] | Line of Credit [Member]
Debt Instrument [Line Items]
Debt allocated to financing business acquisition	$ 15,000,000
Debt Instrument Carrying Amount Allocated To Business Acquisition Closing Costs	$ 500,000
2016 [Member]
Debt Instrument [Line Items]
Amortization of financing costs				$ 291,000
2016 [Member] | Attitash/Mount Snow Debt [Member] | Loans Payable [Member]
Debt Instrument [Line Items]
Long-term debt, interest rate				11.10%
2016 [Member] | Credit Facility Debt [Member] | Loans Payable [Member]
Debt Instrument [Line Items]
Long-term debt, interest rate				10.13%
2016 [Member] | Hunter Mountain Debt [Member] | Notes Payable, Other Payables [Member]
Debt Instrument [Line Items]
Long-term debt, interest rate				8.00%
2016 [Member] | Sycamore Lake (Alpine Valley) [Member] | Loans Payable [Member]
Debt Instrument [Line Items]
Long-term debt, interest rate				10.56%
2017 [Member]
Debt Instrument [Line Items]
Amortization of financing costs				$ 466,000
2017 [Member] | Attitash/Mount Snow Debt [Member] | Loans Payable [Member]
Debt Instrument [Line Items]
Long-term debt, interest rate				11.27%
2017 [Member] | Credit Facility Debt [Member] | Loans Payable [Member]
Debt Instrument [Line Items]
Long-term debt, interest rate				10.28%
2017 [Member] | Hunter Mountain Debt [Member] | Notes Payable, Other Payables [Member]
Debt Instrument [Line Items]
Long-term debt, interest rate				8.14%
2017 [Member] | Sycamore Lake (Alpine Valley) [Member] | Loans Payable [Member]
Debt Instrument [Line Items]
Long-term debt, interest rate				10.72%
2018 [Member]
Debt Instrument [Line Items]
Amortization of financing costs				$ 90,000
2018 [Member] | Attitash/Mount Snow Debt [Member] | Loans Payable [Member]
Debt Instrument [Line Items]
Long-term debt, interest rate				11.44%
2018 [Member] | Credit Facility Debt [Member] | Loans Payable [Member]
Debt Instrument [Line Items]
Long-term debt, interest rate				10.44%
2018 [Member] | Hunter Mountain Debt [Member] | Notes Payable, Other Payables [Member]
Debt Instrument [Line Items]
Long-term debt, interest rate				8.28%
2018 [Member] | Sycamore Lake (Alpine Valley) [Member] | Loans Payable [Member]
Debt Instrument [Line Items]
Long-term debt, interest rate				10.88%
2019 [Member]
Debt Instrument [Line Items]
Amortization of financing costs				$ 90,000
2019 [Member] | Attitash/Mount Snow Debt [Member] | Loans Payable [Member]
Debt Instrument [Line Items]
Long-term debt, interest rate				11.61%
2019 [Member] | Credit Facility Debt [Member] | Loans Payable [Member]
Debt Instrument [Line Items]
Long-term debt, interest rate				10.59%
2019 [Member] | Hunter Mountain Debt [Member] | Notes Payable, Other Payables [Member]
Debt Instrument [Line Items]
Long-term debt, interest rate				8.43%
2019 [Member] | Sycamore Lake (Alpine Valley) [Member] | Loans Payable [Member]
Debt Instrument [Line Items]
Long-term debt, interest rate				11.04%
2020 [Member]
Debt Instrument [Line Items]
Amortization of financing costs				$ 90,000
2020 [Member] | Attitash/Mount Snow Debt [Member] | Loans Payable [Member]
Debt Instrument [Line Items]
Long-term debt, interest rate				11.78%
2020 [Member] | Credit Facility Debt [Member] | Loans Payable [Member]
Debt Instrument [Line Items]
Long-term debt, interest rate				10.75%
2020 [Member] | Hunter Mountain Debt [Member] | Notes Payable, Other Payables [Member]
Debt Instrument [Line Items]
Long-term debt, interest rate				8.57%
2020 [Member] | Sycamore Lake (Alpine Valley) [Member] | Loans Payable [Member]
Debt Instrument [Line Items]
Long-term debt, interest rate				11.21%
2021 [Member]
Debt Instrument [Line Items]
Amortization of financing costs				$ 90,000
2021 [Member] | Attitash/Mount Snow Debt [Member] | Loans Payable [Member]
Debt Instrument [Line Items]
Long-term debt, interest rate				11.96%
2021 [Member] | Credit Facility Debt [Member] | Loans Payable [Member]
Debt Instrument [Line Items]
Long-term debt, interest rate				10.91%
2021 [Member] | Hunter Mountain Debt [Member] | Notes Payable, Other Payables [Member]
Debt Instrument [Line Items]
Long-term debt, interest rate				8.72%
2021 [Member] | Sycamore Lake (Alpine Valley) [Member] | Loans Payable [Member]
Debt Instrument [Line Items]
Long-term debt, interest rate				11.38%

Long-term Debt (Schedule of Lon

Long-term Debt (Schedule of Long-term Debt) (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2016	Apr. 30, 2015	Oct. 30, 2007
Schedule of Capitalization, Long-term Debt [Line Items]
Long-term debt, gross	$ 121,005
Less: unamortized debt issuance costs	(1,903)	$ (811)
Long-term debt	119,102	98,072
Less: current maturities	759	503
Total long-term debt	118,343	97,569
Loans Payable [Member]
Schedule of Capitalization, Long-term Debt [Line Items]
Long-term debt	56,000		$ 31,000
Attitash/Mount Snow Debt [Member] | Loans Payable [Member]
Schedule of Capitalization, Long-term Debt [Line Items]
Long-term debt, gross	$ 51,050	$ 51,050
Long-term debt, interest rate	11.10%	10.93%
Long-term debt, maturity date	Dec. 1, 2034
Credit Facility Debt [Member] | Loans Payable [Member]
Schedule of Capitalization, Long-term Debt [Line Items]
Long-term debt, gross	$ 37,562	$ 37,562
Long-term debt, interest rate	10.13%	10.13%
Long-term debt, maturity date	Dec. 1, 2034
Hunter Mountain Debt [Member] | Notes Payable, Other Payables [Member]
Schedule of Capitalization, Long-term Debt [Line Items]
Long-term debt, gross	$ 21,000
Long-term debt, interest rate	8.00%
Long-term debt, maturity date	Jan. 5, 2036
Sycamore Lake (Alpine Valley) [Member] | Loans Payable [Member]
Schedule of Capitalization, Long-term Debt [Line Items]
Long-term debt, gross	$ 4,550	$ 4,550
Long-term debt, interest rate	10.56%	10.40%
Long-term debt, maturity date	Dec. 1, 2034
Wildcat Mountain Debt [Member] | Notes Payable, Other Payables [Member]
Schedule of Capitalization, Long-term Debt [Line Items]
Long-term debt, gross	$ 3,612	$ 3,790
Long-term debt, interest rate	4.00%
Long-term debt, maturity date	Dec. 22, 2020
Debt payable in monthly installments	$ 27
Other Debt [Member] | Other Debt [Member]
Schedule of Capitalization, Long-term Debt [Line Items]
Long-term debt, gross	$ 3,231	$ 1,931

Long-term Debt (Schedule of Fut

Long-term Debt (Schedule of Future Potential Interest Rates of Fluctuating Rate Debt) (Details)	Apr. 30, 2016	Apr. 30, 2015
Attitash/Mount Snow Debt [Member] | Loans Payable [Member]
Debt Instrument [Line Items]
Long-term debt, potential interest rates	11.10%	10.93%
Attitash/Mount Snow Debt [Member] | Loans Payable [Member] | 2016 [Member]
Debt Instrument [Line Items]
Long-term debt, potential interest rates	11.10%
Attitash/Mount Snow Debt [Member] | Loans Payable [Member] | 2017 [Member]
Debt Instrument [Line Items]
Long-term debt, potential interest rates	11.27%
Attitash/Mount Snow Debt [Member] | Loans Payable [Member] | 2018 [Member]
Debt Instrument [Line Items]
Long-term debt, potential interest rates	11.44%
Attitash/Mount Snow Debt [Member] | Loans Payable [Member] | 2019 [Member]
Debt Instrument [Line Items]
Long-term debt, potential interest rates	11.61%
Attitash/Mount Snow Debt [Member] | Loans Payable [Member] | 2020 [Member]
Debt Instrument [Line Items]
Long-term debt, potential interest rates	11.78%
Attitash/Mount Snow Debt [Member] | Loans Payable [Member] | 2021 [Member]
Debt Instrument [Line Items]
Long-term debt, potential interest rates	11.96%
Credit Facility Debt [Member] | Loans Payable [Member]
Debt Instrument [Line Items]
Long-term debt, potential interest rates	10.13%	10.13%
Credit Facility Debt [Member] | Loans Payable [Member] | 2016 [Member]
Debt Instrument [Line Items]
Long-term debt, potential interest rates	10.13%
Credit Facility Debt [Member] | Loans Payable [Member] | 2017 [Member]
Debt Instrument [Line Items]
Long-term debt, potential interest rates	10.28%
Credit Facility Debt [Member] | Loans Payable [Member] | 2018 [Member]
Debt Instrument [Line Items]
Long-term debt, potential interest rates	10.44%
Credit Facility Debt [Member] | Loans Payable [Member] | 2019 [Member]
Debt Instrument [Line Items]
Long-term debt, potential interest rates	10.59%
Credit Facility Debt [Member] | Loans Payable [Member] | 2020 [Member]
Debt Instrument [Line Items]
Long-term debt, potential interest rates	10.75%
Credit Facility Debt [Member] | Loans Payable [Member] | 2021 [Member]
Debt Instrument [Line Items]
Long-term debt, potential interest rates	10.91%
Hunter Mountain Debt [Member] | Notes Payable, Other Payables [Member]
Debt Instrument [Line Items]
Long-term debt, potential interest rates	8.00%
Hunter Mountain Debt [Member] | Notes Payable, Other Payables [Member] | 2016 [Member]
Debt Instrument [Line Items]
Long-term debt, potential interest rates	8.00%
Hunter Mountain Debt [Member] | Notes Payable, Other Payables [Member] | 2017 [Member]
Debt Instrument [Line Items]
Long-term debt, potential interest rates	8.14%
Hunter Mountain Debt [Member] | Notes Payable, Other Payables [Member] | 2018 [Member]
Debt Instrument [Line Items]
Long-term debt, potential interest rates	8.28%
Hunter Mountain Debt [Member] | Notes Payable, Other Payables [Member] | 2019 [Member]
Debt Instrument [Line Items]
Long-term debt, potential interest rates	8.43%
Hunter Mountain Debt [Member] | Notes Payable, Other Payables [Member] | 2020 [Member]
Debt Instrument [Line Items]
Long-term debt, potential interest rates	8.57%
Hunter Mountain Debt [Member] | Notes Payable, Other Payables [Member] | 2021 [Member]
Debt Instrument [Line Items]
Long-term debt, potential interest rates	8.72%
Sycamore Lake (Alpine Valley) [Member] | Loans Payable [Member]
Debt Instrument [Line Items]
Long-term debt, potential interest rates	10.56%	10.40%
Sycamore Lake (Alpine Valley) [Member] | Loans Payable [Member] | 2016 [Member]
Debt Instrument [Line Items]
Long-term debt, potential interest rates	10.56%
Sycamore Lake (Alpine Valley) [Member] | Loans Payable [Member] | 2017 [Member]
Debt Instrument [Line Items]
Long-term debt, potential interest rates	10.72%
Sycamore Lake (Alpine Valley) [Member] | Loans Payable [Member] | 2018 [Member]
Debt Instrument [Line Items]
Long-term debt, potential interest rates	10.88%
Sycamore Lake (Alpine Valley) [Member] | Loans Payable [Member] | 2019 [Member]
Debt Instrument [Line Items]
Long-term debt, potential interest rates	11.04%
Sycamore Lake (Alpine Valley) [Member] | Loans Payable [Member] | 2020 [Member]
Debt Instrument [Line Items]
Long-term debt, potential interest rates	11.21%
Sycamore Lake (Alpine Valley) [Member] | Loans Payable [Member] | 2021 [Member]
Debt Instrument [Line Items]
Long-term debt, potential interest rates	11.38%
Wildcat Mountain Debt [Member] | Notes Payable, Other Payables [Member]
Debt Instrument [Line Items]
Long-term debt, potential interest rates	4.00%

Long-term Debt (Schedule of Agg

Long-term Debt (Schedule of Aggregate Annual Principal Payments on Long-term Debt) (Details) $ in Thousands	Apr. 30, 2016USD ($)
Long-term Debt [Abstract]
2,017	$ 1,225
2,018	1,827
2,019	757
2,020	215
2,021	2,820
Thereafter	114,161
Long-term debt, gross	$ 121,005

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2016	Apr. 30, 2015	Apr. 30, 2014
Income Taxes [Abstract]
Unrecognized tax benefits	$ 0	$ 0	$ 0
Income tax examination, penalties and interest expense	$ 0	$ 0	$ 0

Income Taxes (Schedule of Compo

Income Taxes (Schedule of Components of Income Tax Expense (Benefit)) (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2016	Apr. 30, 2015	Apr. 30, 2014
Current:
State taxes based on income		$ 168	$ 50
Current income tax expense (benefit), total		168	50
Deferred:
Federal	$ (1,753)	(895)	(635)
State	(325)	(51)	124
Income tax expense (benefit)	$ (2,078)	$ (778)	$ (461)

Income Taxes (Schedule of Defer

Income Taxes (Schedule of Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Thousands	Apr. 30, 2016	Apr. 30, 2015
Deferred Tax Assets:
Deferred gain on sale/leaseback	$ 1,194	$ 1,307
Accrued compensation	238	222
Unearned revenue	897	748
Net operating loss carryforwards	11,146	7,746
Deferred Tax Assets, Gross, Total	13,475	10,023
Deferred income taxes, current	1,092	970
Deferred Tax Liabilities:
Property and equipment	(25,055)	(17,884)
Deferred Tax Liabilities, Gross, Total	(25,055)	(17,884)
Deferred tax liabilities, net, total	(11,580)	(7,861)
Deferred income taxes, noncurrent	(12,672)	$ (8,831)
Deferred tax assets, valuation allowance	$ 0

Income Taxes (Summary of Tax Cr

Income Taxes (Summary of Tax Credit Carryforwards) (Details) $ in Thousands	12 Months Ended
	Apr. 30, 2016USD ($)
Tax Credit Carryforward [Line Items]
Tax credit carryforward, amount	$ 29,911
Tax Expiration Period 2019 [Member]
Tax Credit Carryforward [Line Items]
Tax credit carryforward, expiration date	Dec. 31, 2019
Tax credit carryforward, amount	$ 278
Tax Expiration Period 2031 [Member]
Tax Credit Carryforward [Line Items]
Tax credit carryforward, expiration date	Dec. 31, 2031
Tax credit carryforward, amount	$ 16,227
Tax Expiration Period 2032 [Member]
Tax Credit Carryforward [Line Items]
Tax credit carryforward, expiration date	Dec. 31, 2032
Tax credit carryforward, amount	$ 1,939
Tax Expiration Period 2033 [Member]
Tax Credit Carryforward [Line Items]
Tax credit carryforward, expiration date	Dec. 31, 2033
Tax credit carryforward, amount	$ 2,907
Tax Expiration Period 2034 [Member]
Tax Credit Carryforward [Line Items]
Tax credit carryforward, expiration date	Dec. 31, 2034
Tax credit carryforward, amount	$ 343
Tax Expiration Period 2035 [Member]
Tax Credit Carryforward [Line Items]
Tax credit carryforward, expiration date	Dec. 31, 2035
Tax credit carryforward, amount	$ 8,217

Income Taxes (Schedule of Effec

Income Taxes (Schedule of Effective Income Tax Rate Reconciliation) (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2016	Apr. 30, 2015	Apr. 30, 2014
Income Taxes [Abstract]
Computed "expected" tax (benefit)	$ (1,804)	$ (895)	$ (667)
Increase (decrease) in income tax (benefit) resulting from:
Permanent differences	38	41	46
State income tax	(325)	60	174
Other	13	16	(14)
Income tax expense (benefit)	$ (2,078)	$ (778)	$ (461)

Acquisition (Narrative) (Detail

Acquisition (Narrative) (Details) - USD ($) $ in Thousands	Jan. 06, 2016	Apr. 30, 2016	Jan. 31, 2016	Oct. 31, 2015	Jul. 31, 2015	Apr. 30, 2015	Jan. 31, 2015	Oct. 31, 2014	Jul. 31, 2014	Jun. 30, 2016	Apr. 30, 2016	Apr. 30, 2015	Apr. 30, 2014
Business Acquisition [Line Items]
Long-term debt, gross		$ 121,005									$ 121,005
Revenues		45,475	$ 38,667	$ 6,155	$ 5,432	$ 47,047	$ 45,985	$ 6,230	$ 5,596		95,729	$ 104,858	$ 105,205
Net income (loss)		7,041	$ 3,700	$ (6,888)	$ (7,079)	9,780	$ 3,269	$ (6,743)	$ (8,160)		(3,226)	(1,854)	$ (1,501)
Goodwill		5,009				$ 627					5,009	$ 627
Notes Payable, Other Payables [Member] | Hunter Mountain Debt [Member]
Business Acquisition [Line Items]
Long-term debt, gross		$ 21,000									$ 21,000
Debt Instrument, Interest Rate, Effective Percentage		8.00%									8.00%
Debt instrument, maturity date											Jan. 5, 2036
Hunter Mountain [Member]
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross	$ 35,000
Net cash change to acquire businesses	33,400
Assumed capitalized lease obligations	1,724
Business Acquisition, Transaction Costs	100
Deferred Finance Costs, Gross	1,300
Cash and cash equivalents	1,640
Revenues										$ 13,614
Net income (loss)										$ 3,083
Buildings and improvements	14,052
Equipment	19,120
Intangible assets	865
Goodwill	4,382	$ 4,382									$ 4,382
Deferred tax liability	5,797
Hunter Mountain [Member] | Scenario, Adjustment [Member]
Business Acquisition [Line Items]
Buildings and improvements		752									752
Equipment		7,470									7,470
Intangible assets		865									865
Goodwill		(6,280)									(6,280)
Deferred tax liability		$ 3,085									$ 3,085
Hunter Mountain [Member] | Hunter Mountain Debt [Member]
Business Acquisition [Line Items]
Debt Instrument Carrying Amount Allocated To Business Acquisition Closing Costs	1,000
Debt Instrument Carrying Amount Allocated To Financing Acquisition	20,000
Hunter Mountain [Member] | Hunter Mountain Debt [Member] | Line of Credit [Member] | Royal Banks Of Missouri [Member]
Business Acquisition [Line Items]
Debt Instrument Carrying Amount Allocated To Financing Acquisition	$ 15,000
Hunter Mountain [Member] | Hunter Mountain Debt [Member] | Line of Credit [Member] | Royal Banks Of Missouri [Member] | Prime Rate [Member]
Business Acquisition [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1.00%

Acquisition (Schedule of Purcha

Acquisition (Schedule of Purchase Price Allocation) (Details) - USD ($) $ in Thousands	Apr. 30, 2016	Jan. 06, 2016	Apr. 30, 2015
Business Acquisition [Line Items]
Goodwill	$ 5,009		$ 627
Hunter Mountain [Member]
Business Acquisition [Line Items]
Cash and cash equivalents		$ 1,640
Income tax receivable		395
Inventories		341
Prepaids		246
Buildings and improvements		14,052
Land		6,200
Equipment		19,120
Other assets		4
Goodwill	$ 4,382	4,382
Intangible assets		865
Total assets acquired		47,245
Accounts payable and accrued expenses		1,481
Accrued salaries, wages and related taxes & benefits		250
Unearned revenue and deposits		2,993
Capital Lease Obligations		1,724
Deferred tax liability		5,797
Net assets acquired		$ 35,000

Acquisition (Business Acquisiti

Acquisition (Business Acquisitioin, Pro Forma Information) (Details) - Hunter Mountain [Member] - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Apr. 30, 2016	Apr. 30, 2015
Net revenues	$ 102,860	$ 132,233
Net loss	$ (9,776)	$ (1,426)
Pro forma basic earnings per share	$ (0.70)	$ (0.17)
Pro forma diluted earnings per share	$ (0.70)	$ (0.17)

Sale_Leaseback (Narrative) (Det

Sale/Leaseback (Narrative) (Details)	1 Months Ended	12 Months Ended
	Nov. 30, 2005	Apr. 30, 2016
Sale/Leaseback [Abstract]
Sale leaseback, period	21 years
Sale leaseback transaction, description of accounting for leaseback		the Company sold Mad River Mountain and simultaneously leased the property back for a period of 21 years

Employee Benefit Plan (Narrativ

Employee Benefit Plan (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2016	Apr. 30, 2015	Apr. 30, 2014
Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized by plan	559,296
Units issued in period	63,741
Units forfeited in period	5,334
Shares available for issuance	500,889
Compensation expense	$ 200
Savings Plan 401K [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Minimum age for participation in plan	21 years
Minimum years of service for participation	1 year
Contribution to plan by employer, discretionary	$ 0	$ 0	$ 0

Commitments and Contingencies52

Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2016	Apr. 30, 2015	Apr. 30, 2014
Operating leases, rent expense, net	$ 1,732	$ 1,756	$ 2,075
Minimum [Member]
Operating lease interest percentage increase benchmark limit	1.50%
Maximum [Member]
Operating lease interest percentage increase benchmark limit	4.50%

Commitments and Contingencies53

Commitments and Contingencies (Schedule of Future Minimum Rental Payments) (Details) - USD ($) $ in Thousands	Apr. 30, 2016	Apr. 30, 2015
Operating Leases
2,017	$ 1,657
2,018	1,620
2,019	1,576
2,020	1,543
2,021	1,518
Thereafter	8,821
Operating Leases, future minimum payments due, total	16,735
Capital Leases
2,017	2,166
2,018	2,066
2,019	1,922
2,020	923
2,021	23
Thereafter
Capital Leases, future minimum payments due, total	7,100
Less: amount representing interest	984
Capital Lease obligations, total	6,116
Less: current portion	1,697
Long‑term portion	$ 4,419	$ 1,494

Loss Per Share (Details)

Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Apr. 30, 2016	Jan. 31, 2016	Oct. 31, 2015	Jul. 31, 2015	Apr. 30, 2015	Jan. 31, 2015	Oct. 31, 2014	Jul. 31, 2014	Apr. 30, 2016	Apr. 30, 2015	Apr. 30, 2014
Earnings (Loss) Per Share [Abstract]
Net loss	$ 7,041	$ 3,700	$ (6,888)	$ (7,079)	$ 9,780	$ 3,269	$ (6,743)	$ (8,160)	$ (3,226)	$ (1,854)	$ (1,501)
Weighted number of shares: Common shares outstanding for basic and diluted earnings (loss) per share									13,982,400	8,420,756	3,982,400
Weighted number of shares: Vested restricted stock units									12,893
Weighted number of shares: Total									13,995,293	8,420,756	3,982,400
Basic and diluted earnings (loss) per share	$ 0.50	$ 0.26	$ (0.49)	$ (0.51)	$ 0.70	$ 0.27	$ (1.69)	$ (2.05)	$ (0.23)	$ (0.22)	$ (0.38)
Restricted stock units anti-diluted shares									19,515

Selected Quaterly Financial D55

Selected Quaterly Financial Data (Schedule of Quaterly Financial Information) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Apr. 30, 2016	Jan. 31, 2016	Oct. 31, 2015	Jul. 31, 2015	Apr. 30, 2015	Jan. 31, 2015	Oct. 31, 2014	Jul. 31, 2014	Apr. 30, 2016	Apr. 30, 2015	Apr. 30, 2014
Selected Quarterly Financial Data [Abstract]
Revenues	$ 45,475	$ 38,667	$ 6,155	$ 5,432	$ 47,047	$ 45,985	$ 6,230	$ 5,596	$ 95,729	$ 104,858	$ 105,205
Other Operating Income-gain on involuntary conversion		195							195
Other Operating Income-gain on settlement of lawsuit							2,100			2,100
Income (loss) from Operations	14,174	8,833	(8,875)	(8,963)	18,947	14,498	(6,887)	(9,076)	5,169	17,482	15,053
Net income (loss)	$ 7,041	$ 3,700	$ (6,888)	$ (7,079)	$ 9,780	$ 3,269	$ (6,743)	$ (8,160)	$ (3,226)	$ (1,854)	$ (1,501)
Basic and diluted earnings (loss) per share	$ 0.50	$ 0.26	$ (0.49)	$ (0.51)	$ 0.70	$ 0.27	$ (1.69)	$ (2.05)	$ (0.23)	$ (0.22)	$ (0.38)

Related Party Transactions (Nar

Related Party Transactions (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2016	Apr. 30, 2015	Oct. 30, 2007
Related Party Transaction [Line Items]
Long-term debt	$ 119,102	$ 98,072
Board Of Director At Related Party Law Firm [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	224
Loans Payable [Member]
Related Party Transaction [Line Items]
Long-term debt	$ 56,000		$ 31,000
Long-term debt, description	EPT Ski Properties, Inc. provided the Company with a $31.0 million operating loan. This amount was later increased to $56.0 million upon the execution of the fifth amended and restated promissory note, dated July 13, 2012. Messrs. Boyd and Mueller and Richard Deutsch, the Company's Chief Executive Officer, Chief Financial Officer and Chief Development and Acquisitions Officer, respectively, executed a Consent and Agreement of Guarantors on October 30, 2007 pursuant to which they each personally guaranteed payment of the amount due by the Company under, and satisfaction of all other obligations pursuant to, the Amended and Restated Credit and Security Agreement. See Note 4 to the consolidated financial statements for terms of the agreements. On November 10, 2014, the Company entered into a Restructure Agreement. As a part of the Agreement, the guaranty by Messrs. Boyd, Mueller and Deutsch terminated, and in its place the Company and certain of its subsidiaries guaranteed all of the Company's obligations to EPR under the restructured loans

Subsequent Events (Narrative) (

Subsequent Events (Narrative) (Details) $ in Millions	Jul. 13, 2016USD ($)
Subsequent Event [Member]
Subsequent Event [Line Items]
Short-term borrowings not yet available	$ 10