TomWhite Below is Peter's first and last 3 paragraphs. I eliminated western resorts discussion. Vail Resorts to Debut Seven New Lifts in 2021 December 10, 2020 Peter Landsman Despite a 44 percent decline in earnings, Vail Resorts plans to invest in new lifts across five mountains in 2021. The seven projects at Beaver Creek, Breckenridge, Crested Butte, Keystone and Okemo were initially planned for 2020 but postponed due to the coronavirus pandemic. “We remain committed to reinvesting in our resorts and creating an experience of a lifetime for our guests,” noted CEO Rob Katz. “We plan to maintain a disciplined approach to capital investments, keeping our core capital at reduced levels given the continued uncertainty due to COVID-19.” The company will announce its complete capital plan for calendar year 2021 in March. Okemo Mountain Resort will complete two transformational projects first announced last year. Quantum Four will be swapped for a detachable Leitner-Poma six place lift. The existing equipment, originally installed in 2002 and upgraded with bubble chairs in 2015, will move to replace the Green Ridge triple. Green Ridge is currently the only non-Poma lift at Okemo. Overall capital spending in 2021 is expected to total $125 to $130 million, about 40 percent less than what was initially planned for 2020. The largest non-lift project announced last year, an expansion of the Rendezvous Lodge at Blackcomb, was not mentioned in today’s release. “Since the start of COVID-19, disciplined cost management has been a primary focus, with significant actions taken to date to tightly manage our costs with reduced revenue expectations,” said Vail. “We have implemented operating plans that actively manage our expenses, while maintaining a high-quality experience for our guests.” Vail reported a net loss of $153.8 million for the 2021 fiscal first quarter compared with a loss of $106.5 million a year ago. Season pass sales through December 6th, 2020 increased approximately 20 percent in units but were flat in sales dollars compared to the prior year. Vail continues to maintain significant liquidity with $614 million of cash on hand as of November 30th and $587 million available under revolving credit facilities.
DrJeff The planned lifts for this season are getting built for next season is how I read all of this. A good sign of Vail's hope that this season will be able to happen in its entirety, but also the realism of how their revenue will be affected by lower walk up tickets, lessons, food and beverage, equipment sales, etc
IBRAKEFORTBARS Now that we in Ohio have been Vailified I’m curious if they have plans to replace the lifts at BMBW and Alpine Valley. Our newest chairlift is a 30 year old Riblet triple - and they BETTER NOT mess with that beautiful piece of machinery. The old Halls, Thiokols, and Borvigs probably need to go bye-bye. 😏
TomWhite IBrake did you see my post in the Rope Tows Only thread about Hide Away Hills? Looking at their web-site, they built homes on that slope.
IBRAKEFORTBARS TomWhite;c-45358 wroteIBrake did you see my post in the Rope Tows Only thread about Hide Away Hills? Looking at their web-site, they built homes on that slope. Just saw it. I’m not familiar with any lost areas near C’Bus. Neat to know about!
