Vail Resorts to spend $110 million on improvements

BROOMFIELD — At least $110 million in improvements are planned for Vail Resorts Inc.’s properties for the upcoming winter-recreation season, according to the Broomfield-based company.

The plan announced Tuesday by Vail Resorts (NYSE: MTN) will bring its total investment in its resorts to more than $500 million during the past five years and is highlighted by the project to link the Park City and Canyons resorts in Utah. That $50 million plan, originally announced when Vail Resorts bought Park City last September, will create the largest snow-sports resort in the United States, with more than 7,300 acres of skiable terrain.

“Each year, Vail Resorts is the industry leader in capital improvements to ensure an unparalleled guest experience at each of our resorts,” said Rob Katz, chief executive of Vail Resorts, in a media release. “The overall capital plan reflects our goal to target high-return investments which support a premium experience, and our improvement plan in Utah will be one of the most transformative ever undertaken in the ski industry.”

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Other announced improvements include upgrading Vail Mountain’s Avanti Express Lift No. 2 to a six-passenger high-speed chairlift, expanding the snowmaking “refresh” system at Beaver Creek, adding new snowmaking to the recently opened Peak 6 terrain at Breckenridge, and refreshing the rooms and common areas at Keystone Lodge and Spa.

Vail Resorts also will unveil EpicMix Time, an expansion of its ski and snowboard app that will allow guests at Vail, Beaver Creek, Breckenridge and Keystone to access real-time lift-line wait times across 55 core lifts and gondolas, as well as 13,600 acres of skiable terrain in Colorado.

The company also announced that it had reached an agreement with the town of Breckenridge to ask the town’s voters in November to approve a 4.5 percent tax on winter-only lift tickets –  but not Epic Pass season passes. The proceeds from the tax – which Vail Resorts has projected would raise at least $3.5 million a year – would pay for parking projects.