Vail to invest $ 320 million in capital improvement, biggest expense in company history
As part of its 2022 preliminary budgeting process, Vail Resorts Inc. (NYSE: MTN) this week announced plans to invest a record $ 320 million in capital improvements next year.
System-wide, these upgrades, called the Epic Lift Upgrade, will include 19 new chairlifts, including 12 high-speed lifts, a new eight-person high-speed gondola and six new fixed-grip chairlifts, according to a press release. by Vail.
“In some of our mountains that means new high-speed ski lifts that will double the speed at which we can move people out of base areas, and in others the projects aim to make it easier to explore different sections. of the mountain. “Vail CEO Rob Katz said in the statement.
At Vail’s Colorado resorts, improvements are expected to include:
- Keystone Resort, Bergman Bowl: Improvements to the Bergman Bowl will include a new six-person high-speed chairlift, increasing the area served by elevators to 555 acres. Additional upgrades include 16 new trails, a ski patrol facility and snowmaking infrastructure. This project opens access to novice and intermediate guests and provides expanded entry to expert terrain in Independence and Erickson Bowls.
- Keystone Resort, Outpost Restaurant: An approximately 6,000 square foot extension of the existing Outpost Restaurant will add 300 additional indoor seating and 75 additional outdoor seating for guests.
- Vail Mountain, Sun Down Lift in the Legendary Back Bowls: Installing a new four-person High Speed Chair in the Sun Down Bowl from Chair Base 5 (High Noon Express) at the Wildwood Restaurant will dramatically reduce the downtime. ‘wait on peak days at Chair 5 and create the opportunity for skiers and runners to access the Sun Down Bowl trails much more easily.
- Vail Mountain, Game Creek Bowl: Skiers and riders alike will see improved reliability and capacity in this popular bowl with the replacement of the current four-person chair with a new high-speed six-person lift, increasing capacity by nearly 50%.
- Breckenridge Ski Resort, Rip’s Ride Lift: The beginner’s ski and riding school experience will be enhanced in the heavily used Peak 8 base area by replacing the current fixed-grip double with a high-speed chair for four people, increasing climbing ability by almost 70% and improving off-base traffic.
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