Vail Resorts announced their 2020 capital plan of approximately $210-$215 million to enhance guest experiences and scale the company’s growing business.
“We are thrilled to welcome guests to all of our resorts as the 2020 North American ski season kicks off with 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. “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.”
Note: some of Vail’s lift and lodge upgrades and capital expenditures are now pending since Vail Resorts’ closed early, mid-March 2020, due to the Covid virus outbreak. Also Vail Resorts CEO, Rob Katz, and his wife, Elana Amsterdam, donated $2.5 million to provide immediate support for both Vail Resorts employees and the mountain towns that have been impacted, called Epic Promise.
Vail Resorts’ investments announced for 2020-2021 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 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 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 from the Mountain House Base area, pending certain government approvals.
Rendezvous Lodge Restaurant expansion on Blackcomb Mountain – at Whistler Blackcomb, the company intends to significantly increase the seating capacity at the Rendezvous Lodge Restaurant, adding 250 season on-mountain at the top of the new Blackcomb Gondola installed last year, further enhancing the experience at North America’s largest resort.
Upgrading the Quantum lift at Okemo – 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 – to Vail’s 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 ex, including new interactive trail maps and account features, while retaining key features like vertical feet tracking, photo sharing, and transparent lift line wait times.
Vail Resorts, Inc. (NYSE: MTN)
Vail Resorts operate 47 world-class mountain resorts and urban 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 – RockResorts, Grand Teton Lodge Company in Jackson Hole, Wyo.
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