BROOMFIELD, Colo., Dec. 9, 2019 /CNW/ -- Today, Vail Resorts,
Inc. (NYSE: MTN) announced a series of major capital improvements
across its resorts that are designed to make getting on and around
its mountains faster and easier through terrain expansions, new
lifts and expanded restaurant experiences.
The new projects are part of the company's calendar year 2020
capital plan of approximately $210
million to $215 million to
enhance the guest experience and scale the company's growing
business. This investment builds on the approximately $190 million to $195
million that Vail Resorts is planning to spend on capital
improvement projects in calendar year 2019.
"We are thrilled to welcome guests to all of our resorts as the
2019/20 North American ski season kicks off with several
transformational enhancements to the guest experience – from
state-of-the-art snowmaking systems which ensured terrific early
season terrain at Vail,
Beaver Creek and Keystone, to new and improved experiences at
Park City, Breckenridge, Okemo, Stevens Pass and
Crested Butte," said Rob Katz, Vail Resorts chairman and chief
executive officer.
"With these improvements in place, we're excited to share what's
next in our continuous efforts to enhance the guest experience with
a focus on maximizing our guests' time on the mountain," Katz
continued. "As our company grows, we are determined to grow
thoughtfully and with our mission always in mind: to create an
Experience of a Lifetime for our guests."
Key resort investments in calendar year 2020 include:
McCoy Park at Beaver Creek – This significant
terrain expansion project – which will be served by two new
chairlifts including a four-person, high-speed lift – will provide
a rare beginner and intermediate bowl experience in one of the most
idyllic settings in Colorado. The
project, with its highly accessible, family-friendly learning
terrain, received approval from the United States Forest Service
last year and will be completed in time for the 2020/21 ski
season.
High-Speed Lift to Peak 7 in Breckenridge – At Breckenridge, the
company plans to install a new four-person, high-speed lift to
serve the popular Peak 7 area. This additional lift will further
enhance the guest experience at the most visited resort in the U.S.
by increasing uphill capacity and improving circulation for the
intermediate terrain on Peaks 6 and 7.
High-Speed Lift from Keystone Base Area – At
Keystone, the company plans to replace the four-person Peru lift with a six-person, high-speed
chairlift in order to increase out-of-base capacity and improve
circulation at the Mountain House Base area, pending certain
government approvals.
Restaurant Expansion on Blackcomb Mountain – At
Whistler Blackcomb, the company intends to significantly increase
the seating capacity at the Rendezvous Lodge Restaurant on
Blackcomb Mountain. The expansion will add 250 seats at a critical
on-mountain restaurant, located at the top of the new Blackcomb
Gondola installed last year, further enhancing the experience at
North America's largest
resort.
Transformational Upgrades at Okemo – The company
plans to complete a transformational investment at Okemo, pending
certain government approvals. The investment will include upgrading
the Quantum lift from a four-person to a six-person, high-speed
chairlift and relocating the existing four-person, high-speed
Quantum lift to replace the Green Ridge three-person chairlift,
increasing uphill capacity and improving circulation across the
resort. The company also plans to renovate and expand both dining
and ski school facilities, as well as enhance accessibility
for all guests at the primary point of arrival.
New Resort Integration – The company intends to integrate
its 17 new resorts in the Northeast, Mid-Atlantic and Midwest to
allow for direct-to-lift access for its guests in time for the
2020/21 ski season. This is in addition to the company's previously
announced plans to invest $15 million
over the next two years to improve the guest experience across
these resorts.
EpicMix Enhancements – Finally, the company will also
completely revamp its EpicMix mobile application. It will offer new
functionality and an improved user experience, including new
interactive trail maps and account features, while retaining key
features like vertical feet tracking, photo sharing, and
transparent lift line wait times.
About Vail Resorts, Inc. (NYSE: MTN)
Vail Resorts,
Inc., through its subsidiaries, is the leading global mountain
resort operator. Vail Resorts' subsidiaries operate 37 world-class
destination mountain resorts and regional ski areas, including
Vail, Beaver Creek, Breckenridge, Keystone and Crested
Butte in Colorado;
Park City in Utah; Heavenly, Northstar and Kirkwood in the Lake
Tahoe area of California
and Nevada; Whistler Blackcomb in
British Columbia, Canada;
Perisher, Falls Creek and Hotham
in Australia; Stowe, Mount
Snow, Okemo in Vermont;
Hunter Mountain in New York; Mount
Sunapee, Attitash, Wildcat and Crotched in New Hampshire; Stevens Pass in Washington; Liberty, Roundtop, Whitetail,
Jack Frost and Big Boulder in
Pennsylvania; Alpine Valley,
Boston Mills, Brandywine and Mad
River in Ohio; Hidden Valley and Snow Creek in Missouri; Wilmot in Wisconsin; Afton Alps in Minnesota; Mt. Brighton in Michigan; and Paoli Peaks in Indiana. Vail Resorts owns and/or manages a
collection of casually elegant hotels under the RockResorts brand,
as well as the Grand Teton Lodge Company in Jackson Hole, Wyo. Vail Resorts Development
Company is the real estate planning and development subsidiary of
Vail Resorts, Inc. Vail Resorts is a publicly held company traded
on the New York Stock Exchange (NYSE: MTN). The Vail Resorts
company website is www.vailresorts.com and consumer
website is www.epicpass.com.
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SOURCE Vail Resorts, Inc.