The Latest On Park City Vail Development Plan

Vail Resorts has stepped up its development thrust after last year's $182 million acquisition of PCMR or Park City Mountain Resort. The acquisition of PCMR has been regarded as one of the major developments last year. This has ended the long-drawn dispute between the previous owners of the resort and the parties which held control over leasing the slopes.

Park City Mountain Resort is a major addition to the portfolio of Vail Resorts which already included ski resorts based in Beaver Creek, Keystone, Breckenridge and Canyons.  This acquisition also paved the way for the inclusion of PCMR into the Epic Pass program.

Furthermore, this acquisition resulted in Vail’s ownership of the PCMR and the Canyons, two out of three of the best resorts in Park City. 

2 Major Developments

Doubletree by Hilton Worldwide – watch out for the rebranding of Yarrow Resort Hotel and Conference Center under the management of Vail. It has been announced this April that one of the landmarks in Park City which is the Yarrow Resort Hotel and Conference Center has been acquired by Vail Resorts. This property which was previously owned by Singerman Real Estate has just undergone a major remodeling. A fitness center has been added and its bar updated. The property now boasts 182 rooms and ample meeting space.

Connect Park City with Canyons Resort – this March, Vail Resorts divulged that its plan to connect PCMR with Canyons Resort has gained the approval of the Park City Planning Commission.

Vail's development plan which will be implemented starting this year, well into 2016 will include numerous infrastructure upgrades for both resorts. This plan is worth more than $50 million. Notable key upgrades in this Park City Vail development plan are as follows:

• the creation of over 7,300 acres of skiable terrain which is the largest single ski area in the country
• the construction of a gondola that will ferry passengers between Park City's Silverlode Lift and Canyons' Flatiron Lift (PCMR's gondola was dismantled in 1997)
• upgrade Park City's King Con and Motherlode lifts alongside the construction of this gondola
• the construction of a new Snow Hut restaurant that will be located near the new gondola
• the Red Pine Lodge restaurants will get an upgrade

Apart from these key upgrades, there are also talks of investing in snowmaking equipment as well as other upgrades in the Iron Mountains. This indeed is the best time to invest in Park City real estate.