Alterra Mtn Co. plans to spend $223 million in capital improvements for 2020-21 ski season
Alterra Mountain Co. will spend an estimated $223 million in capital improvements at its 15 North American resorts for the 2020-21 ski season, the company announced Tuesday.
Alterra, which sells the popular Ikon and Ikon Base ski passes, is a sister organization to Aspen Skiing Co. It was formed three years ago.
The company’s investment plan includes $50 million for base-area facility development; $48 million for new chairlifts and upgrades, expanded terrain and snowmaking; $30 million in technology, “including Ikon Pass and destination app development and data utilization”; $27 million in enhancing base area and on-mountain restaurants; and $7 million on various summer and winter activity investments.
Some of the highlights of the spending spree include making an additional 355 acres of terrain accessible by extending the northern ski area boundary at Steamboat and expanding snowmaking at Winter Park.
“Three years ago, when we formed Alterra Mountain Company, an initial priority was to commit to investing a half a billion dollars by 2023 across our family of North American destinations,” said Rusty Gregory, CEO, Alterra Mountain Co. in a prepared statement. “To date, we have invested more than $350 million and are committed to exceeding our original plan, spending $575 million by 2020 on lifts and gondolas, snowmaking, summer activities, real estate development, hospitality and technology, all in the name of creating memories for our guests through an elevated mountain experience.”
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