Vail Spending $140 Million on “Upgrades”By Steve Casimiro on March 8th, 2013
Sounding a bit like the cat that swallowed the canary, Vail Resorts chief Rob Katz told Wall Street analysts, “We are very pleased with our performance in the second quarter.” Well, yeah — income jumped 30 percent over last year’s dismal snow-droughted winter, to $60.5 million. But don’t think any of that profit is going into reduced lift ticket prices: Vail is pouring $140 million into nine ski areas, including spending $25 million to build summer “activity centers” at four Colorado resorts plus Heavenly and Northstar at Lake Tahoe, bringing tubing and ziplines to the Rockies and Sierra. Two thoughts come to mind. First, has everyone forgotten that mountains are pretty good activity centers all by themselves? Second, given that Vail already has wi-fi-enabled gondolas and ski valets, how much more can all that capital “improve”? Via Denver Business Journal.
Read more stories like this at Adventure Journal.