Vail Resorts Commits to $175 Million to $180 Million in Capital Investments to Reimagine the Guest Experience for the 2019-20 Season
- New capital continues
- Guests will be able to access the mountain faster with new technology allowing those who purchased lift tickets in advance to bypass the ticket window entirely
- Investments are focused on getting resorts open sooner and with more terrain in the early season through the pursuit of snowmaking upgrades at Vail,
- Additional plans include new or upgraded lifts at
From new mobile technology enhancements that will improve direct-to-lift access to the pursuit of snowmaking upgrades at Vail,
Projects expected for the 2019-20 winter season, subject to government approval, include:
NORTH AMERICAN RESORTS
Improvements to direct-to-lift access across
"Reducing guest wait times is a top priority across
Also new for 2019-20, season pass holders or their guests can pre-purchase Ski With a Friend or Buddy benefit tickets online and take advantage of express fulfillment with the Company's new mobile capabilities at base area lifts.
Enhanced snowmaking to transform the early-season terrain experience at Vail,
Proposed plans to invest in state-of-the-art, energy-efficient snowmaking technology and infrastructure upgrades will help to drive an earlier, more predictable opening date and help maintain high-quality conditions during the early-season across Vail,
Vail Mountainis currently seeking approvals to upgrade and expand its snowmaking system, moving opening up a week and ensuring a pre- Thanksgivingopening each year, as well as enhancing the terrain consistency during the early season with more beginner and intermediate terrain available earlier. The proposed plan entails expanding snowmaking infrastructure on the upper mountain in the Mid-Vail area in order to open the Mountain Top Express Lift (#4) first with access via Gondola One, followed by the Avanti Express Lift (#2) for access out of and back to both Lionshead and Vail Village. Keystone Resortis planning to upgrade snowmaking on its opening terrain to a state-of-the-art, automated, energy-efficient system that will assist in allowing the resort to operate more productively in narrow early-season snowmaking windows. This will help to position Keystoneto be the first resort to open in Coloradoand the U.S. each season with the most skiable terrain, bringing forward the resort's opening day by up to three weeks each year.
- An expansion of
Beaver Creek'ssnowmaking system at Red Buffalo Parkis also being pursued to ensure more reliable early-season terrain in a key ski school and beginner area of the upper mountain with the goal of providing more than 3,300 vertical feet of top-to-bottom skiing and riding on opening day each year.
"The ability to expand snowmaking infrastructure in areas of
New and renovated skier services at
The Beaver Creek Children's Ski Schoolwill be completely renovated to improve the experience for the entire family, from sales and registration to rental equipment fitting.
Breckenridge'sPeak 8 base, completely new slopeside, guest-service facilities will be added in more than 22,000 square-feet of space just steps away from the Colorado SuperChair and Rocky Mountain SuperChair. Included will be a new Children's Ski & Snowboard Schooland childcare facilities, ticket and pass office, and a new ski and snowboard rental concept.
Transformation of the Tombstone BBQ at
Following four years of investments across every major on-mountain restaurant at
WASHINGTON STATE AND VERMONT
As part of
Vail Resortsplans to replace and upgrade the Daisy and Brooks lifts, both of which serve critical terrain for beginner and intermediate skiers and snowboarders at Stevens Pass. These lift replacements will reduce lift line wait times and increase total lift capacity by more than nine percent.
- To provide an updated and enhanced experience, renovations at existing on-mountain dining options at
Stevens Passwill be pursued. Vail Resortsalso plans to upgrade Okemo's two on-mountain restaurants, Sugar House and Summit Lodge, to offer new concepts and menus, as well as an updated look and feel to interior finishes and furnishings.
The company will also invest over the coming year in planning and approvals for upgrades at
Upgrades to lift infrastructure and snowmaking at Perisher
- The replacement of the Leichhardt T-Bar with a fixed-grip quad lift at Perisher for the 2019 season is currently underway, increasing lift capacity in one of the resort's most popular areas; as well as significant snowmaking investments to provide critical early-season connections and maximize terrain for skiers and snowboarders.
In addition to these exciting investments,
Today's announcements follow
Forward Looking Statements
Certain statements discussed in this press release and on the conference call, other than statements of historical information, are forward-looking statements within the meaning of the federal securities laws, including our expected capital investments for the 2019-20 season. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include but are not limited to prolonged weakness in general economic conditions, including adverse effects on the overall travel and leisure related industries; unfavorable weather conditions or the impact of natural disasters; risks related to our reliance on information technology, including our failure to maintain the integrity of our customer or employee data; risks related to cyber-attacks; willingness of our guests to travel due to terrorism, the uncertainty of military conflicts or outbreaks of contagious diseases, and the cost and availability of travel options and changing consumer preferences; the seasonality of our business combined with adverse events that occur during our peak operating periods; competition in our mountain and lodging businesses; high fixed cost structure of our business; our ability to fund resort capital expenditures; risks related to a disruption in our water supply that would impact our snowmaking capabilities and operations; our reliance on government permits or approvals for our use of public land or to make operational and capital improvements; risks related to federal, state, local and foreign government laws, rules and regulations; risks related to changes in security and privacy laws and regulations which could increase our operating costs and adversely affect our ability to market our products and services effectively; our ability to hire and retain a sufficient seasonal workforce; risks related to our workforce, including increased labor costs; loss of key personnel; adverse consequences of current or future legal claims; a deterioration in the quality or reputation of our brands, including our ability to protect our intellectual property and the risk of accidents at our mountain resorts; our ability to successfully integrate acquired businesses, or that acquired businesses may fail to perform in accordance with expectations, including Okemo,
All forward-looking statements attributable to us or any persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. All guidance and forward-looking statements in this press release are made as of the date hereof and we do not undertake any obligation to update any forecast or forward-looking statements whether as a result of new information, future events or otherwise, except as may be required by law.
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