What happens in western ski resorts?
The ski resorts in the western mountain resorts are not only among the best in the world; they are collectively a gateway to a certain lifestyle that combines great winter sport with culture, entertainment and the good life. Ski resort destinations like Park City, Lake Tahoe, Sun Valley, Vale, Jackson Hole and others are legendary in their own right and each have their own attractions, special features and offers. That said, there is a constant attempt to update, modernize and renovate the infrastructure and provide even more for ski enthusiasts and other visitors.
For me personally, skiing has it all. I used to race cars, but skiing is one step further. It removes the machinery and brings you one step closer to the elements. And it is a complete physical expression of freedom. – Robert Redford
Take the case of the seven ski resorts that straddle the Wasatch Mountains (Deer Valley, Park City Mountain Resort, Canyons, Brighton, Solitude Mountain, Snowbird, and Alta). Plans are underway to give winter sports enthusiasts adjoining, unobstructed access to all seven, linking them with ski lifts and slopes. This would give them access to 18,000 acres of skiable terrain, 100 lifts, and over 700 slopes with a single ticket! Dubbed the One Wasatch concept, this initiative could change the face of Utah’s winter sports industry. If implemented, it will be the largest lift-serviced ski experience in North America.
Among other notable initiatives is the proposed partnership between snowboarders in Sqaw Valley and Alpine Meadows with Sugar Bowl to grant exclusive skiing privileges to pass holders for the 2014-2015 ski season. These belong to the Donner Summit and Royal Gorge Cross Country complex. This will effectively provide Sqaw and Alpine season pass holders with unobstructed access to Sqaw, Alpine, Sierra-at-Tahoe and the Sugar Bowl. This encompassed all 9,650 acres of ski terrain, 69 lifts, and 419 trails traversing 13 Sierra peaks.
Some action has been reported from Vail Valley Resorts, where the 2013 Burton US Open Snowboarding Championship was attended by 18,000 people. This bodes well for the region’s economy, as big events like this are seen as a magnet for attracting visitors. The importance placed on events can be confirmed by the fact that the Vail Commission on Special Events alone has an annual budget of nearly $1 million. Additionally, the city spent up to $400,000 in reserve funds to support the US Open.
The iconic Sun Valle Lodge, which has the unique distinction of being America’s first ski resort, was built in 1936. Plans are underway to give this much-loved ski resort an exciting makeover. This involves remodeling and updating the rooms, lobby, restaurants, and other amenities. This will involve combining the smaller rooms to create larger suites with fireplaces, larger bathrooms and showers. The lobby will be expanded to free up more space, thus providing unobstructed views of the ice rink, ski mountain and terrace. However, great care has been taken to preserve the essence of the architectural design of the historic buildings, which is the work of Stanley Underwood and much loved and revered as the epitome of old world hospitality and comfort.
Steamboat in Colorado has had a fairly controlled run in recent years. From 1,729 transactions and a turnover of $1 billion in 2007 to a measly 467 transactions and a turnover of $267 million in just two years, he witnessed a pretty dramatic drop in fortunes. Over the five years since then, Steamboat achieved some normalcy with fewer than a thousand transactions and $400 million in sales. The troubles of the last few years, in which many sellers faced financial ruin, have indeed led to fundamental changes in the Real Estate industry. This is reflected in stricter credit standards and a complete change in the way industry professionals approach business.
Whistler resort, which like Steamboat had seen a decline in its property market level, has also returned in 2014 with the first reported property market value increases in four years. At $9.73 billion, that’s more than the $137 million or 1.4% achieved in 2013. Considering that 2013 and 2012 respectively saw a drop in value of 5% and 7% from the previous year, this is a very strong recovery. meritorious
There has been an issue affecting the expansion of the Snow King Mountain Resort area that adjoins a large winter camp. This came after the Acting Jackson District Ranger reversed his previous position of allowing expansion as it was felt that any expansion would infringe on the winter range, which had to remain intact.
In fact, there is a lot going on in the Western Mountains region at any one time given the size and importance of the area’s ski resort industry. April will see a Western Mountain Resorts Alliance panel discussion at the Vail Marriott Mountain Resort as part of the Colorado Association of Realtors Spring Meeting. Major resorts like Jackson Hole, Park City, Sun Valley and Vail will engage in a very important discussion about potential issues affecting the regional real estate and ski resort industry.