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Vail 2020/2021

canobie#1

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https://www.prnewswire.com/news-rel...e-on-mountain-guest-experience-300971632.html

Vail Resorts Announces Key Capital Investments for 2020/21 North American Ski Season to Enhance the On-Mountain Guest Experience

BROOMFIELD, Colo.—Dec. 9, 2019— 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.

EpixMix 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.
 

canobie#1

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Personally I think that the Solitude lift should have been the one to get the six pack upgrade at Okemo.
 

jg17

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The DTL Epic integration for the former Peak resorts was expected, but glad to get confirmation. Also nice that this isn't coming out of the $15M in upgrades they had committed to the new mountains. However, still waiting to see what that $15M goes to. I realize that if divided across 17 mountains, it's unlikely that anyone gets anything significant and shiny, but hopefully some master plans get updated following the first year of ops.
 

ss20

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That is fantastic news for Okemo. I'm assuming the new high speed lift will go down to the Mountain Road intersection (that was always a goal of the Muellers). This will take sooooo much pressure off the Sunburst 6, and remove the necessity to ski the beginner trail area back to the 6.

But to be honest...and this has been the case for a loooong time now...each year Vail seems to add 20% new mountains, but adds only 10% to it's capital improvements budget. The capital improvement budget increased $20m for 2020 over 2019, but they added the 17 new Peak mountains. In general they're spending less at each mountain, with only one "grand" improvement across their entire portfolio each year (this year Beaver Creek with 2 new lifts and new terrain, a few years ago the new Backcomb 3+ mile long gondola). You don't have to have your master's in business to see where this is headed....
 

drjeff

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One has to remember that this is only a part of the capital improvements for the '20-'21 season that Vail will do.

There full list, which up top in that press release was mentioned will be in the 210-220 million range, will be announced in March. So while probably nothing major at an acquired Peak Resort until the '21-'22 season, this won't be the only capital investment projects at Vail Resorts for next season

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mbedle

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The DTL Epic integration for the former Peak resorts was expected, but glad to get confirmation. Also nice that this isn't coming out of the $15M in upgrades they had committed to the new mountains. However, still waiting to see what that $15M goes to. I realize that if divided across 17 mountains, it's unlikely that anyone gets anything significant and shiny, but hopefully some master plans get updated following the first year of ops.

Pretty sure that 15 million will basically cover the cost to integrate the epic pass cards, upgrade all the POS terminals and install 100's of "Lift Bar Now", "No Snowballs", No Open Containers" and "Ski Closed Trails will..... " signs.... lol
 

prsboogie

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Pretty sure that 15 million will basically cover the cost to integrate the epic pass cards, upgrade all the POS terminals and install 100's of "Lift Bar Now", "No Snowballs", No Open Containers" and "Ski Closed Trails will..... " signs.... lol
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.

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jimmywilson69

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yes its clear from the article that the Epic integration and improvements are 2 different things. Those who hate Vail keep glossing over that...


Locally I'm not sure what more they could do for me in PA. Upgraded more efficient snowmaking is what gets their best bang for their buck. Most of these southcentral hills have decently new lift infrastructure, and we sure as shit don't need no bubble high speed 6 packs :lol:
 

drjeff

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Short of when Vail bought those couple of small Midwestern resorts a few years ago, and basically redid them from top to bottom before their 1st full season of operations under the Vail Resorts ownership, Vail resorts rarely has made any sizable improvements for their 1st full season of owning a new resort. True, one could argue that this season Vail does has full ownership of the Peak resorts, however the reality if that based on the date they closed the deal, and all of the behind the scenes logistical items that integrating 17 resorts simultaneosuly into the company (a HUGE project even for a company of Vail Resorts size), it was always going to be the '21-'22 season before you're going to see any major investment in the Peak properties based on how Vail Resorts historically has done their long term capital expenditures planning
 

drjeff

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Maybe Katz will revisit the Nuclear bomb idea to increase Mt Snow's vertical :lol:

Actually the thing that I will be curious to see, is if Rob Katz does ends up having a bit of a soft spot for Hunter or not? I learned by listening to one of the Vail Resorts Epic by Nature podcasts, which he hosts, and frankly I have found quite interesting to listen too, that he grew up skiing Hunter!

So while I doubt that we'll see Vail Resorts future capital expenditures go all crazy "Walt Schoenecht nuclear bomb explosion the base of Mount Snow to increase it's vertical" type stuff, I guess I wouldn't be that surprised if a bit of nostalgia cap ex spending heads Hunter's way in the coming years.....
 

danimals

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yes its clear from the article that the Epic integration and improvements are 2 different things. Those who hate Vail keep glossing over that...


Locally I'm not sure what more they could do for me in PA. Upgraded more efficient snowmaking is what gets their best bang for their buck. Most of these southcentral hills have decently new lift infrastructure, and we sure as shit don't need no bubble high speed 6 packs :lol:


I haven’t been to the southern pa hills, but jfbb has really outdated infrastructure (besides snowmaking). The lifts at big boulder are ancient and slow, and the lifts at Jack Frost aren’t that much better. No need for high speed but a carpet loading quad would be nice.


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jg17

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I haven’t been to the southern pa hills, but jfbb has really outdated infrastructure (besides snowmaking). The lifts at big boulder are ancient and slow, and the lifts at Jack Frost aren’t that much better. No need for high speed but a carpet loading quad would be nice.


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The JF lifts aren't nearly as bad as at BB. East Mountain and D are late 90s/early 2000s Parteks so they should be fine being only 20ish years old. The double triple is late 80s-ish and the Borvig parts are typically easily replaceable by newer Partek parts (in fact B lift even has one replacement Partek chair). For those lifts, maybe consider replacing with a Partek double quad for capacity, but I would consider it non urgent. A lift isn't super old but doesn't run as often so likely lower hours anyway. E/F lifts seem to be the only ones that can be considered ancient.

BB lifts need some serious investment. The Hall and Borvig double double lifts are truly ancient, late 60s-early 70s. Last year the Hall had a new comm line sitting nearby, so I assume it was getting that, reroped (I didn't see a new haul rope so I'm not sure if it's getting replaced, since the lift was deroped with the haul rope intact) and other maintenance so that doesnt seem to be going anywhere. The double double needs a replacement, but a single quad is probably sufficient. Big Boulder and Freedom lifts aren't too bad and could probably go on for a while longer.

Lodge refreshes at both mountains would be nice, and maybe an addition at the JF lodge since it's always packed.
 

jg17

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Pretty sure that 15 million will basically cover the cost to integrate the epic pass cards, upgrade all the POS terminals and install 100's of "Lift Bar Now", "No Snowballs", No Open Containers" and "Ski Closed Trails will..... " signs.... lol

Ha, good point! The midwest resorts will need bars added to the lifts as well, so there goes a chunk of the money too...
 
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