Vail Resorts spending $110M on upgrades and investments
BROOMFIELD — Vail Resorts will invest approximately $110 million to $115 million in resort improvements for the upcoming 2015-16 ski season, bringing its five-year resort investment total to more than $500 million.
The centerpiece of this plan is linking Park City and Canyons resorts in Utah, transforming the two resorts into one and completing a number of upgrades to the infrastructure.
According to a company release, the $50 million project is one of the most ambitious capital programs in U.S. ski industry history and will create the largest ski resort in the United States, with more than 7,300 acres of skiable terrain.
“Each year, Vail Resorts is the industry leader in capital improvements to ensure an unparalleled guest experience at each of our resorts,” said Rob Katz, chief executive officer of Vail Resorts. “The overall capital plan reflects our goal to target high return investments which support a premium experience and our improvement plan in Utah will be one of the most transformative ever undertaken in the ski industry.”
Other improvements for the coming season include upgrading Vail Mountain’s Avanti Express Lift (Chair 2) to a six-passenger high-speed chairlift, expanding the “refreshing” snowmaking system at Beaver Creek, adding new snowmaking to the recently opened Peak 6 terrain at Breckenridge, refreshing the rooms and common areas at the Keystone Lodge and Spa, and unveiling EpicMix Time, a new crowd-sourced, real-time technology which will bring transparency to liftline wait times.
Vail Resorts’ consumer website can be found at http://www.snow.com.
Work began last week in preparation for a new 240-unit apartment complex in Avon. t’s the first major construction on the Traer Creek property in 13 years, since the completion of the Traer Creek Plaza building.