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Vail Resorts to Invest $30 Million at Northstar

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SAM Magazine-Broomfield, Colo. , Mar. 9, 2011-Vail Resorts (VR) plans to invest $30 million on capital improvement projects at Northstar-at-Tahoe. VR aims to enhance the guest experience both on the mountain and in the Village at Northstar for the 2011-12 winter season.

Plans include the installation of a new backside high-speed chair that will serve expanded gladed terrain and additional ski trails, increasing the skiable terrain by 10 percent; construction of a 500-seat on-mountain restaurant, with an outdoor deck and 200 more seats; and the addition of Patagonia and Burton retail outlets, as well as a signature restaurant, to the Village at Northstar.

"Northstar-at-Tahoe has been a great addition to our portfolio of world-class resorts, and its performance since we acquired it in October 2010 underscores the rationale for our purchase. The initial consumer response to the combination of Northstar-at-Tahoe with Heavenly resort drove strong increases in season pass sales for both resorts, and that has translated into higher visitation, as Northstar-at-Tahoe is currently on track to achieve a record season in terms of visitation and revenue," said VR CEO Rob Katz.

"We believe we are in the early stages of realizing tremendous potential at that resort and are moving aggressively to further elevate the profile of Northstar-at-Tahoe. The resort already offers a comprehensive experience not otherwise found on the North Shore of Lake Tahoe, and we intend to further widen the gap with more family-friendly terrain, more grooming and snowmaking, a best-in-class on-mountain dining experience, and a village experience that is far superior to any other destinations in the region. This will be the first of many steps that will come in future years," Katz added.