Vail: Full Speed Ahead On New Improvements

Vail Resorts says it plans to spend at least $100 million on projects to upgrade its five ski properties.

September 4, 2008 - The Denver Post

Vail Resorts (owner of Breckenridge Ski Area) plans to showcase at least $100 million in capital improvements this year at its five ski resorts. The spending, which could rise to $115 million by the end of the year, is more than the combined total for all other Colorado ski resorts.

National economic weakness and a slight decline last year in Colorado's total skier visits have not caused Vail to rein in the spending program. According to Bob Katz, Vail chief executive, "We have not pulled back on a single improvement".

Projects include a new eight-passenger gondola at Keystone, a new base area with dining and lodging at Breckenridge's Peak 7, the opening of the Arabelle hotel in Vail Square and a $7 million renovation of the former Inn at Beaver Creek.

Katz also announced:

• Within two years, Vail will doulbe from 5 percent to 10 percent its program to reduce energy consumption through conservation and equipment upgrades
• Sales of the Epic Season Pass -- allowing unlimited skiing at all Vail Resorts for $579 -- have been strong
• A new lodging promotion offers one free night at various Vail Resorts hotels during the season's biggest holidays if four consecutive nights are purchased.