| Revision as of 14:19, 7 February 2022 edit91.230.41.206 (talk) →List of resorts← Previous edit | Revision as of 14:52, 15 March 2022 edit undo2601:181:8200:5d10:b567:833f:6d0f:bce9 (talk) CEO Change: https://news.vailresorts.com/corporate/vail-resorts-announces-ceo-and-executive-succession.htmNext edit → | ||
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| Vail Resorts was founded as Vail Associates Ltd. by ] (former WWII ] ski trooper) and Earl Eaton in the early 1960s. Earl and Peter were both ski patrol guides at ], when they shared their dream of finding the "next great ski mountain". Earl, a lifelong resident and son of pioneer families in the area led Peter to the area in March 1957. Peter set off to secure financing and Earl engineered the early lifts. The ski resort was founded and it opened in 1962.<ref>{{cite news|author=Lauren Moran|title=Vail visionaries|date=March 19, 2011|publisher=]|url=https://www.vaildaily.com/news/vail-visionaries-2/|work=]|access-date=June 16, 2018}}</ref> ] purchased Vail Associates in 1985.<ref>{{cite news|author=Randy Wyrick|title=1985: The year the deals got done|publisher=]|url=https://www.vaildaily.com/news/1985-the-year-the-deals-got-done/|work=Vail Daily|date=May 20, 2011|access-date=June 16, 2018}}</ref> Vail Associates changed its name to Vail Resorts and went public in 1997<ref>{{cite web|url=http://www.getfilings.com/o0000927356-97-001483.html|title=Vail Resorts Inc. - 10-K Annual Report|date=September 30, 1997|website=Getfilings.com|access-date=June 16, 2018}}</ref> after Gillett Holdings (owned by George N. Gillett Jr.) went bankrupt.<ref>{{cite news|title=Gillett Bankruptcy Filing|date=August 18, 1992|agency=]|url=https://www.nytimes.com/1992/08/18/business/gillett-bankruptcy-filing.html|work=]|access-date=June 16, 2018}}</ref> ], headed by ], bought the company out of bankruptcy and took Vail Resorts public, controlling Vail Resorts through its growth until around 2003, when Apollo divested themselves of the controlling interest. | Vail Resorts was founded as Vail Associates Ltd. by ] (former WWII ] ski trooper) and Earl Eaton in the early 1960s. Earl and Peter were both ski patrol guides at ], when they shared their dream of finding the "next great ski mountain". Earl, a lifelong resident and son of pioneer families in the area led Peter to the area in March 1957. Peter set off to secure financing and Earl engineered the early lifts. The ski resort was founded and it opened in 1962.<ref>{{cite news|author=Lauren Moran|title=Vail visionaries|date=March 19, 2011|publisher=]|url=https://www.vaildaily.com/news/vail-visionaries-2/|work=]|access-date=June 16, 2018}}</ref> ] purchased Vail Associates in 1985.<ref>{{cite news|author=Randy Wyrick|title=1985: The year the deals got done|publisher=]|url=https://www.vaildaily.com/news/1985-the-year-the-deals-got-done/|work=Vail Daily|date=May 20, 2011|access-date=June 16, 2018}}</ref> Vail Associates changed its name to Vail Resorts and went public in 1997<ref>{{cite web|url=http://www.getfilings.com/o0000927356-97-001483.html|title=Vail Resorts Inc. - 10-K Annual Report|date=September 30, 1997|website=Getfilings.com|access-date=June 16, 2018}}</ref> after Gillett Holdings (owned by George N. Gillett Jr.) went bankrupt.<ref>{{cite news|title=Gillett Bankruptcy Filing|date=August 18, 1992|agency=]|url=https://www.nytimes.com/1992/08/18/business/gillett-bankruptcy-filing.html|work=]|access-date=June 16, 2018}}</ref> ], headed by ], bought the company out of bankruptcy and took Vail Resorts public, controlling Vail Resorts through its growth until around 2003, when Apollo divested themselves of the controlling interest. | ||
| Former Apollo executive Rob Katz currently runs the company. The skating rink at ], was named the Black Family Skating Rink after Leon Black.{{cn|date=January 2022}} | Former Apollo executive <ref>Rob Katz ran the company as their CEO until November 2021 when he stepped aside and was appointed executive chairperson of the board. November 1st 2021 Kirsten Lynch, the company's former chief marketing officer took over as CEO and currently runs the company. The skating rink at ], was named the Black Family Skating Rink after Leon Black.{{cn|date=January 2022}} | ||
| ==Criticism== | ==Criticism== | ||
Revision as of 14:52, 15 March 2022
American mountain resort company.svg) | |
| Company type | Public |
|---|---|
| Traded as |
|
| Founded | 1997; 27 years ago (1997) |
| Headquarters | Broomfield, Colorado, U.S. |
| Key people | Kirsten A. Lynch, CEO |
| Revenue | US$2.271 billion (2019) |
| Net income | US$301.2 million (2019) |
| Number of employees | 7,100 (July 31, 2020) |
| Website | vailresorts.com |
Vail Resorts, Inc. is an American mountain resort company headquartered in Broomfield, Colorado. The company is divided into three divisions. The mountain segment owns and operates 40 mountain resorts in three countries, Vail Resorts Hospitality owns or manages hotels, lodging, condominiums and golf courses, and the Vail Resorts Development Company oversees property development and real estate holdings.
History
Vail Resorts was founded as Vail Associates Ltd. by Pete Seibert (former WWII 10th Mountain Division ski trooper) and Earl Eaton in the early 1960s. Earl and Peter were both ski patrol guides at Aspen, Colorado, when they shared their dream of finding the "next great ski mountain". Earl, a lifelong resident and son of pioneer families in the area led Peter to the area in March 1957. Peter set off to secure financing and Earl engineered the early lifts. The ski resort was founded and it opened in 1962. George N. Gillett Jr. purchased Vail Associates in 1985. Vail Associates changed its name to Vail Resorts and went public in 1997 after Gillett Holdings (owned by George N. Gillett Jr.) went bankrupt. Apollo Management, headed by Leon Black, bought the company out of bankruptcy and took Vail Resorts public, controlling Vail Resorts through its growth until around 2003, when Apollo divested themselves of the controlling interest.
Former Apollo executive Cite error: A <ref> tag is missing the closing </ref> (see the help page).
RockResorts
In 2001, Vail Resorts acquired the renowned luxury hotel chain RockResorts, which contributed substantially to their brand recognition. RockResorts (with the second "R" now capitalized) was named for its original owners, the Rockefeller Family. As of January 2017, the properties include:
The Pines Lodge at Beaver Creek, CO
The Lodge at Vail, CO
The Osprey at Beaver Creek, CO
The Arrabelle at Vail Square, CO
One Ski Hill Place at Breckenridge Ski Resort
The Grand Summit Hotel in Park City Utah
Subsidiaries and affiliates
All of the company's retail operations are run by a smaller company, , of which Vail owns 70%. The owners of the other 30% are the Gart Brothers, specifically Tom Gart, Ken Gart and John Gart. The Gart family have been in the sporting goods business for 3 generations and were the former owners of Gart Sports, the large chain of sporting goods stores in the western US. Gart Sports was sold by the Gart family in the 1990s and then recently sold again to Sports Authority, which discontinued the use of the Gart Sports name in 2006. In 2010, Vail completed the buyout of the Specialty Sports Venture brand and is now the 100% owner of all SSV operations. In addition to all of the ski shops in the Vail Resorts portfolio of ski areas, the SSV chain of stores includes Bicycle Village in Denver, Colorado Ski & Golf, Boulder Ski Deals, Aspen Sports, Telluride Sports and Mountain Sports Outlet in Summit County and Glenwood Springs and many others. SSV is reportedly the largest Trek bicycles dealer in the world.
Vail Resorts also owns just over 50% of Slifer Smith and Frampton (SSF), the largest real estate brokerage company in the Vail region, controlling over 70% of the real estate transactions in the market. Slifer, Smith and Frampton was called Slifer, Smith and Frampton/Vail Associates Real Estate, but they dropped the "Vail Associates" name in 2003. The founders of SSF are Rod Slifer, a former ski instructor who was recently the mayor of the Town of Vail, Mark Smith, a real estate broker/turned developer who currently also runs East West Partners with Harry Frampton, who was the former President of Vail Associates and currently owns East West Partners. East West Partners has built most of the large building that make up the Beaver Creek Village, including the Marketplace Building, Village Hall and One Beaver Creek. Not to be confused with East West Resorts, a separate property Management Group.
Vail Resorts Development Company (VRDC) is the wholly owned real estate development company that Vail Resorts uses to develop all of its company-owned real estate, other than the projects that East West Partners develops. VRDC developed Bachelor's Gulch, one of the most upscale, ski-in/ski-out resorts in the business with its own Ritz Carlton and just over 100 slopeside mansions. President Gerald Ford kept his ski house in the Strawberry Park section of Beaver Creek, which is between Beaver Creek and Bachelor's Gulch. Arrowhead is the third "peak" in the heavily promoted "village to village ski experience" in which you can ski from Beaver Creek to Bachelor's Gulch to Arrowhead and back again. Arrowhead was a separate ski area unrelated to Beaver Creek for years before they were finally bought by Vail Associates in the early 1990s. VRDC also developed "club" division of Vail Resorts, including the Beaver Creek Club, the Arrowhead Alpine Club, and Game Creek Club (in Vail). VRDC also developed Red Sky Ranch in Wolcott (approximate 10 miles (16 km) west of Beaver Creek), which includes two golf courses and many million dollar golf course homes. All of these clubs are now operated by the "Mountain Division" of Vail Resorts.
List of resorts
Vail Resorts operates 40 ski resorts in the United States, Canada and Australia, including, notably, the Vail, Beaver Creek, Breckenridge, Keystone, and Crested Butte ski areas in Colorado, and Northstar California, Kirkwood Mountain Resort, and Heavenly Mountain Resort on the California-Nevada border. They also acquired the largest ski resort in North America: Whistler Blackcomb, located in British Columbia, Canada. Vail Resorts offers a variety of multi-resort season passes under the Epic Pass program. The Epic Pass also has partnerships that allows access to several other resorts in the US, Canada, Japan, France, Switzerland, Austria, and Italy. Vail Resorts acquired the Grand Teton Lodge Company within the Grand Teton National Park in Wyoming in 1999. The GTLC properties include the Jenny Lake Lodge, Jackson Lake Lodge, and Colter Bay Village.
| Name | Location | Number of lifts | Date opened | Date acquired | Notes |
|---|---|---|---|---|---|
| Afton Alps | Hastings, Minnesota | 22 | 1963 December 21 | 2012 December 6 | |
| Alpine Valley | Chesterland, Ohio | 5 | 2019 September 24 | Bought from Peak Resorts along with 16 other mountains. | |
| Attitash Mountain | Bartlett, New Hampshire | 9 | 1965 January 26 | 2019 September 24 | Bought from Peak Resorts along with 16 other mountains. |
| Beaver Creek Resort | Beaver Creek, Colorado | 25 | 1980 December 15 | — | |
| Big Boulder | Lake Harmony, Pennsylvania | 10 | 2019 September 24 | Bought from Peak Resorts along with 16 other mountains. | |
| Boston Mills | Peninsula, Ohio | * | 2019 September 24 | Bought from Peak Resorts along with 16 other mountains. * 16 lifts jointly with Brandywine | |
| Brandywine | Sagamore Hills Township, Ohio | * | 2019 September 24 | Bought from Peak Resorts along with 16 other mountains. * 16 lifts jointly with Boston Mills | |
| Breckenridge Ski Resort | Breckenridge, Colorado | 32 | 1961 December 16 | 1996 | |
| Crested Butte Mountain Resort | Crested Butte, Colorado | 16 | 1961 November 23 | 2018 September 27 | Purchased with Mt. Sunapee, Stevens Pass, and Okemo. |
| Crotched Mountain | Bennington, New Hampshire | 5 | 1969 December 14 | 2019 September 24 | Bought from Peak Resorts along with 16 other mountains. |
| Falls Creek | Bogong High Plains, Victoria, Australia | 14 | 1946 | 2019 February 22 | Bought from Merlin Entertainments along with Hotham. |
| Heavenly Mountain Resort | South Lake Tahoe, California | 30 | 1955 December 15 | 2002 March 26 | |
| Hidden Valley | Eureka, Missouri | 9 | 2019 September 24 | Bought from Peak Resorts along with 16 other mountains. | |
| Hidden Valley Resort (Pennsylvania) | Hidden Valley, Pennsylvania | 4 | 1958 | 2021 December 31 | Bought from Seven Springs Mountain Resort, Inc. and affiliates along with two other resorts. |
| Hotham Alpine Resort | Mount Hotham, Victoria, Australia | 14 | 1925 | 2019 February 22 | Bought from Merlin Entertainments along with Falls Creek. |
| Hunter Mountain | Hunter, New York | 15 | 1960 January 9 | 2019 September 24 | Bought from Peak Resorts along with 16 other mountains. |
| Jack Frost | White Haven, Pennsylvania | 18 | 2019 September 24 | Bought from Peak Resorts along with 16 other mountains. | |
| Keystone Resort | Keystone, Colorado | 20 | 1970 November 21 | 1996 | |
| Kirkwood Mountain Resort | Kirkwood, California | 15 | 2012 February 22 | ||
| Laurel Mountain | Somerset County, Pennsylvania | * | 1939 | 2021 December 31 | Bought from Seven Springs Mountain Resort, Inc. and affiliates along with two other resorts. |
| Liberty Mountain Resort | Fairfield, Pennsylvania | 9 | 1960 | 2019 September 24 | Bought from Peak Resorts along with 16 other mountains. |
| Mad River Mountain | Zanesfield, Ohio | 12 | 2019 September 24 | Bought from Peak Resorts along with 16 other mountains. | |
| Mount Brighton | Brighton, Michigan | 12 | 1960 | 2012 December 6 | |
| Mount Snow | West Dover, Vermont | 20 | 1954 | 2019 September 24 | Bought from Peak Resorts along with 16 other mountains. |
| Mount Sunapee Resort | Newbury, New Hampshire | 11 | 1948 December 26 | 2018 September 27 | Owned by State of NH but operated alongside Okemo, first resort in New Hampshire to be operated by Vail |
| Northstar California | Truckee, California | 20 | 1972 December | 2010 October 25 | |
| Okemo Mountain Resort | Ludlow, Vermont | 20 | 1956 January 31 | 2018 September 27 | Purchased alongside Mount Sunapee, Stevens Pass, and Crested Butte. |
| Paoli Peaks | Paoli, Indiana | 8 | 1978 December | 2019 September 24 | Bought from Peak Resorts along with 16 other mountains. |
| Park City Mountain Resort | Park City, Utah | 41 | 1963 December 21 | 2013 May 29 (Canyons)
2014 September 11 (Park City) |
In 2015, Vail merged the Park City and Canyons resorts under the Park City Mountain Resort name, connecting them with a gondola. |
| Perisher Ski Resort | Perisher Valley, Australia | 46 | 1951 | 2015 March 30 | Vail's first Australian property. |
| Roundtop Mountain Resort | Lewisberry, Pennsylvania | 7 | 1964 November 28 | 2019 September 24 | Bought from Peak Resorts along with 16 other mountains. |
| Seven Springs Mountain Resort | Seven Springs, Pennsylvania | 14 | 1937 | 2021 December 31 | Bought from Seven Springs Mountain Resort, Inc. and affiliates along with two other resorts. |
| Snow Creek | Weston, Missouri | 5 | 1986 | 2019 September 24 | Bought from Peak Resorts along with 16 other mountains. |
| Stevens Pass | Skykomish, Washington | 10 | 1937 | 2018 June 4 | Purchased alongside Mount Sunapee, and Okemo. |
| Stowe Mountain Resort | Stowe, Vermont | 12 | 1937 February 7 | 2017 February 21 | Vail's first resort on the East Coast of the United States. |
| Vail Ski Resort | Vail, Colorado | 31 | 1962 December 15 | — | The third-largest ski resort in the United States. |
| Whistler Blackcomb | Whistler, British Columbia, Canada | 37 | 1966 January 15 | 2016 August 8 | Purchased 75% interest in Whistler & Blackcomb Partnerships (balance owned by Nippon Cable) |
| Whitetail Resort | Mercersburg, Pennsylvania | 9 | 1991 | 2019 September 24 | Bought from Peak Resorts along with 16 other mountains. |
| Wildcat Mountain Ski Area | Gorham, New Hampshire | 5 | 1958 January 25 | 2019 September 24 | Wildcat trail cut by CCC in 1933. Original gondola started operation in 1958. Peak Resorts acquired Wildcat in 2010. |
| Wilmot Mountain | Wilmot, Wisconsin | 11 | 1938 February | 2016 January 19 |
References
- ^ "Vail Resorts News Release".
- Lauren Moran (March 19, 2011). "Vail visionaries". Vail Daily. Swift Communications. Retrieved June 16, 2018.
- Randy Wyrick (May 20, 2011). "1985: The year the deals got done". Vail Daily. Swift Communications. Retrieved June 16, 2018.
- "Vail Resorts Inc. - 10-K Annual Report". Getfilings.com. September 30, 1997. Retrieved June 16, 2018.
- "Gillett Bankruptcy Filing". The New York Times. Associated Press. August 18, 1992. Retrieved June 16, 2018.
- "What It Means to Ski in a Vail-Dominated World". 14 October 2014.
- "Epic Season Pass". www.epicpass.com. Retrieved June 16, 2018.
- ^ "Vail Resorts to Acquire Two Ski Areas in Midwest, Afton Alps in Minnesota and Mount Brighton in Michigan". Vail Resorts. Retrieved June 16, 2018.
- "History of the Breckenridge Ski Resort". Retrieved June 16, 2018.
- ^ "Vail Resorts Closes Acquisition of Okemo Mountain Resort, Mount Sunapee Resort and Crested Butte Mountain Resort". www.hotelnewsresource.com. Retrieved 2019-08-11.
- ^ "Vail Resorts in buying spree, acquiring Crested Butte, three other ski areas". Denver Business Journal. June 4, 2018. Retrieved June 16, 2018.
- Jeremy Evans (November 21, 2005). "50 years of Heavenly: A chronicle of skiers' dreams and change on the South Shore". Tahoe Daily Tribune. Retrieved June 16, 2018.
- ^ LaConte, John (January 1, 2022). "Vail Resorts closes on acquisition of Seven Springs, Hidden Valley and Laurel Mountain ski areas". Steamboat Pilot & Today. Vail Daily. Retrieved January 4, 2022.
- "Vail Resorts To Acquire Kirkwood Mountain Resort". Retrieved 22 February 2012.
- Scott Miller (October 25, 2010). "Vail Resorts acquires Northstar-at-Tahoe". Vail Daily. Swift Communications. Retrieved June 16, 2018.
- "Vail Resorts Acquires Park City Mountain Resort in Park City, Utah | Vail Resorts Corporate". News.vailresorts.com. September 11, 2014. Retrieved June 16, 2018.
- Mary Forgione (July 29, 2015). "Goodbye Canyons, hello Park City: Utah ski resort on track to be biggest in U.S." Los Angeles Times. Retrieved June 16, 2018.
- "Vail Resorts To Acquire Stowe Mountain Resort In Stowe, Vermont". News.vailresorts.com. February 21, 2017. Retrieved June 16, 2018.
External links
Categories:- Vail Resorts
- Companies based in Broomfield, Colorado
- Ski areas and resorts in Colorado
- Economy of the Southwestern United States
- Companies listed on the New York Stock Exchange
- Hospitality companies established in 1962
- Hospitality companies of the United States
- 1997 establishments in Colorado
- Resorts in Colorado
- Ski areas and resorts