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This content is a press release from our partner Business Wire. The AP newsroom and editorial departments were not involved in its creation.

Alterra Mountain Company Announces $181 Million in Capital Improvements for the 2019/2020 Winter Season

March 4, 2019

DENVER--(BUSINESS WIRE)--Mar 4, 2019--Alterra Mountain Company announces its plans to invest $181 million in capital improvements across its 14 North American mountain destinations for the upcoming year. Marquee 2019/2020 projects aimed at enhancing the guest experience include new high-speed lifts at Squaw Valley Alpine Meadows and Winter Park, direct to lift access at Deer Valley Resort, an expansive renovation of the Bobbie Burns lodge at CMH Heli-Skiing & Summer Adventures, and an upgrade of Steamboat’s gondola.

This year’s $181 million plan includes $32.3 million towards improved gondolas and lifts, a $27.1 million investment in innovation to offer customer-friendly technology, $8.3 million towards state-of-the-art snowmaking, $6.2 million dedicated to expanded dining experiences, $6.3 million in summer activity investments, and nearly $10 million in planning efforts to unlock future potential terrain and lift expansions, base area developments, new dining facilities, and four-season activity offerings.

These capital projects are part of an ambitious improvement plan totaling more than half a billion dollars through the 2022/2023 season, focused on elevating the guest experience at all destinations, after an initial $170 million investment for the 2018/2019 season.

“Alterra Mountain Company’s unique year-round mountain destinations offer skiers, riders and summer visitors of all ages from all over the world special, memorable experiences, and each aspect of our business plays a part in bringing the guest back year after year and inspiring a lifelong love of the mountains,” said Rusty Gregory, Chief Executive Officer, Alterra Mountain Company. “We are committed to investing in everything from lifts to snowmaking to creative dining experiences, and technology that weaves it all together for a seamless visit.”

Significant improvements for the 2019/2020 season include:

Squaw Valley Alpine Meadows, California

Squaw Valley Alpine Meadows will replace the Hot Wheels lift at Alpine Meadows with a new high-speed quad with an extended second leg to the ridge, granting skiers and riders quicker access to the Alpine and Sherwood areas. New surface lifts at High Camp at Squaw Valley will improve connectivity with High Camp facilities and enhance the beginner experience.

Deer Valley Resort, Utah

Deer Valley Resort will have direct-to-lift access for winter 19/20 after an investment in RFID technology. This will streamline and speed up the on-mountain experience, and Ikon Pass holders will no longer have to visit the ticket window, giving skiers more time on the mountain.

Steamboat, Colorado

Steamboat is planning a $15 million replacement of its gondola this year. The new gondola will follow the same alignment, taking skiers and riders out of the base area and up to the Thunderhead Lodge, and will significantly reduce ride times. In addition, new level-walk-in cabins will boost uphill capacity by nearly 30%, up to 3,600 skiers per hour, providing skiers and riders more time on the mountain.

CMH Heli-Skiing & Summer Adventures, British Columbia, Canada

The beloved Bobbie Burns lodge in British Columbia will experience a $6.4 million ($8.4 million CAD) renovation, the largest infrastructure project that CMH has undertaken since 2002, with a complete redesign and modernization of existing guest rooms. In addition, the construction of a new wing will increase the number of single rooms, bringing the lodge capacity to 37 guests in winter, and enable CMH to offer a four-person private heli-skiing program starting in December 2019. Nearly $1 million ($1.2 million CAD) will be spent on run development throughout CMH’s heli-ski tenures. For summer 2019, guests will be able to navigate canyon ledges and glacier-fed waterfalls on the new Zillmer Canyon Via Ferrata, launching at CMH Cariboos.

Mammoth Mountain, California

Mammoth Mountain will undergo a $10 million second phase renovation of its busy Canyon Lodge, focusing on expanded restaurants and skier service improvements. The popular Mill restaurant will also undergo renovations, adding 50+ seats to the dining area. Significant upgrades to snowmaking will bolster Mammoth’s reputation for early-November openings, and supplement its natural snow and high-elevation advantages with greater early-season coverage.

Winter Park Resort, Colorado

Winter Park Resort will replace the Sunnyside lift at Mary Jane, currently a fixed triple lift, with a new Leitner-Poma detachable high-speed six-pack, increasing uphill capacity by 800 people per hour and reducing the ride time from eight minutes to 3.8 minutes. The new lift will improve skier transit out of Parsenn Bowl and through the Lunch Rock area. Winter Park will also reinforce its summer activities by adding new bike trails, rope courses, and climbing walls.

Tremblant, Quebec, Canada

A $4 million snowmaking upgrade and expansion will contribute significantly to greater consistency of early-season openings with high-quality conditions, building upon Tremblant’s reputation as the premier ski destination in the region and preparing the destination for future planned expansions. Phase II of a major $7 million renovation of the Grand Manitou at Tremblant will include refreshes to dining spaces and other interior and exterior renovations.

Stratton, Vermont

Stratton’s debut in the world of mountain biking will begin with the construction of a completely new mountain biking park and trail network, complete with green, blue, and black trails, as well as various features.

Snowshoe, West Virginia

Alterra Mountain Company is increasing its investment in mountain biking, constructing new bike trails and features at Snowshoe, which is consistently ranked among the top mountain biking destinations in the region. Snowshoe will play host to the final round of the 2019 Mountain Bike World Cup in September 2019.

Big Bear Mountain Resort, California

Big Bear Mountain Resort will expand its bike park, increase parking capacity for guests, and make notable improvements in skier services and dining facilities to the base area.

Blue Mountain, Ontario, Canada

To offer unique outdoor family experiences, an elevated forest adventure course, including tree houses, bounce nets, and slides, will be constructed for family summer fun.

Alterra Mountain Company’s multi-destination pass product, the Ikon Pass, will go on sale on Tuesday, March 5, 2019 for the 2019/2020 winter season, offering skiers and riders access to 38 mountain destinations across North America, Japan, Australia, New Zealand and Chile. Ikon Passes can be purchased at www.ikonpass.com.

About Alterra Mountain Company

Alterra Mountain Company is a family of 14 iconic year-round destinations, including the world’s largest heli-ski operation, offering the Ikon Pass, the new standard in season passes. The company owns and operates a range of recreation, hospitality, real estate development, food and beverage and retail businesses. Headquartered in Denver, Colorado, with destinations across the continent, Alterra Mountain Company is rooted in the spirit of the mountains and united by a passion for outdoor adventure. Alterra Mountain Company’s family of diverse playgrounds spans six U.S. states and three Canadian provinces:

Steamboat and Winter Park Resort in Colorado; Squaw Valley Alpine Meadows, Mammoth Mountain, June Mountain and Big Bear Mountain Resort in California; Stratton in Vermont; Snowshoe in West Virginia; Tremblant in Quebec, Blue Mountain in Ontario; Crystal Mountain in Washington; Deer Valley Resort and Solitude Mountain Resort in Utah; and CMH Heli-Skiing & Summer Adventures in British Columbia. Alterra Mountain Company honors each destination’s unique character and authenticity and celebrates the legendary adventures and enduring memories they bring to everyone. For more information, please visit www.alterramtnco.com.

About Ikon Pass

The Ikon Pass is the new standard in season passes, connecting the most iconic mountains across North America, Australia, New Zealand, Japan and Chile, delivering authentic, memorable snow adventures. Brought to you by Alterra Mountain Company, the Ikon Pass unlocks access to a community of diverse destinations to ski and ride, including Aspen Snowmass, Steamboat, Winter Park Resort, Copper Mountain and Eldora Mountain Resort in Colorado; Squaw Valley Alpine Meadows, Mammoth Mountain, June Mountain and Big Bear Mountain Resort in California; Jackson Hole Mountain Resort in Wyoming; Big Sky Mountain Resort in Montana; Stratton, Killington and Sugarbush Resort in Vermont; Snowshoe in West Virginia; Boyne Highlands and Boyne Mountain in Michigan; Crystal Mountain and The Summit at Snoqualmie in Washington; Tremblant in Quebec and Blue Mountain in Ontario, Canada; SkiBig3 in Alberta, Canada; Revelstoke Mountain Resort and Cypress Mountain in British Columbia, Canada; Sunday River and Sugarloaf in Maine; Loon Mountain in New Hampshire; Deer Valley Resort, Solitude Mountain Resort, Brighton Resort, Alta Ski Area, and Snowbird in Utah; Thredbo in Australia; Coronet Peak, The Remarkables, Mt Hutt in New Zealand; Niseko United in Japan, and Valle Nevado in Chile. Special offers are available at CMH Heli-Skiing & Summer Adventures, the world’s largest heli-skiing and heli-accessed hiking operation. For more information on the Ikon Pass, visit www.ikonpass.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190304005793/en/

CONTACT: The Ashima Group

Amelie Bruzat

amelie@theashimagroup.com

KEYWORD: UNITED STATES NORTH AMERICA CANADA COLORADO

INDUSTRY KEYWORD: TRAVEL DESTINATIONS VACATION SKIING/SNOWBOARDING SPORTS BIKING/CYCLING

SOURCE: Alterra Mountain Company

Copyright Business Wire 2019.

PUB: 03/04/2019 12:36 PM/DISC: 03/04/2019 12:36 PM

http://www.businesswire.com/news/home/20190304005793/en