Vail Resorts, Inc. runs four ski resorts in Colorado (Vail Ski Resort, Beaver Creek Resort, Keystone Resort, and Breckenridge Ski Resort), three in Lake Tahoe (One Heavenly Mountain Resort, Kirkwood Mountain Resort, Northstar California), one in Utah City Mountain Resort in Park City), one in Vermont (Stowe Mountain Resort), one in Minnesota (Afton Alps), one in Michigan (Mount Brighton), one in Wisconsin (Wilmot Mountain), one in New South Wales, Australia (Perisher Ski Resort), one in British Columbia (Whistler Blackcomb), and a summer resort in Wyoming. They also have luxury resort hotels around the world. The company is trading on the New York Stock Exchange, a symbol of MTN. The company is headquartered in Broomfield, Colorado.
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History
Vail Resorts was established as Vail Associates Ltd. by Pete Seibert (former ski troop of the 10th Division of World War II) and Earl Eaton in the early 1960s. Earl and Peter are both ski patrol guides in Aspen as they share their dream of discovering "the next great skiing mountain". Earl, a lifelong resident and pioneer family son in the area took Peter to the area in March 1957. Peter set out to get financing and Earl engineered an early appointment. The ski resort was founded and opened in 1962. George N. Gillett, Jr. bought Vail Associates in 1985. Vail Associates changed its name to Vail Resorts and became public in 1997 after Gillett Holdings (owned by George N. Gillett, Jr.) went bankrupt. Apollo's management, led by Leon Black, bought the company from bankruptcy and took Vail Resorts into public, controlling Vail Resorts through its growth until around 2003, when Apollo broke free of controlling interests. Former Apollo executive Rob Katz is currently running the company. The ice skating rink at Beaver Creek was named Black Family Skating Rink after Leon Black.
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RockResorts
In 2001, Vail Resorts acquired the renowned luxury hotel chain, RockResorts, which contributed greatly to their brand recognition. RockResorts (with the letter "R" now capitalized) are named for the original owner, Rockefeller Family. Starting January 2017, its properties include:
Subsidiaries and affiliates
All of the company's retail operations are run by smaller companies, [Vail Resorts Retail, VRR], where Vail has 70%. The other 30% owners are Gart Brothers, especially Tom Gart, Ken Gart and John Gart. Gart's family has been in the sporting goods business for 3 generations and is a former owner of Gart Sports, a major chain of sports equipment stores in the western US. Gart Sports was sold by the Gart family in the 1990s and then recently resold to the Sports Authority, which stopped using the name of Gart Sports in 2006. In 2010, Vail completed the purchase of the Specialty Sports Venture brand and is now 100% owner of all SSV operations. In addition to all the ski shops in the Vail Resorts ski area portfolio, SSV store network includes Bicycle Village in Denver, Colorado Ski & amp; Golf, Boulder Ski Deals, Aspen Sports, Telluride Sports and Mountain Sports Outlets in Summit County and Glenwood Springs and many others. SSV is reportedly the largest Truck dealer in the world.
Vail Resorts also has over 50% of Slifer Smith and Frampton (SSF), the largest real estate brokerage firm in the Vail region, controlling more than 70% of real estate transactions in the market. Slifer, Smith, and Frampton called Slifer, Smith, and Frampton/Vail Associates Real Estate, but they crossed out the name "Vail Associates" in 2003. SSF founder Rod Slifer, a former ski instructor who recently became mayor of Vail City , Mark Smith, a real estate broker/developer who currently also runs East West Partners with Harry Frampton, who is a former President of Vail Associates and currently owns East West Partners. East West Partners has built most of the large buildings that make up Creek Creek Village, including Marketplace Building, Village Hall, and One Beaver Creek. Not to be confused with East West Resorts, separate Property Management Group.
Vail Resorts Development Company (VRDC) is a fully developed real estate development company by Vail Resorts to develop all of its company's real estate, in addition to projects developed by East West Partners. VRDC develops Bachelor's Gulch, one of the most luxurious ski-in/ski-out resorts in the business with Ritz Carlton and over 100 slopeside mansion. President Gerald Ford maintains a 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 highly promoted "village to village" village experience where you can ski from Beaver Creek to Gulch from Bachelor to Arrowhead and back again. Arrowhead is a separate ski area not related to Beaver Creek for many years before it was finally purchased by Vail Associates in the early 1990s. VRDC also developed the "club" division of Vail Resorts, including Beaver Creek Club, the Arrowhead Alpine Club, and Game Creek Club (in Vail). VRDC also developed Red Sky Ranch in Wolcott (about 10 miles (16 km) west of Beaver Creek), which includes two golf courses and many million golf courses. All these clubs are now operated by the "Mountain Division" of Vail Resorts.
List of resorts
Vail Resorts mainly operates the ski areas of Vail, Beaver Creek, Breckenridge, and Keystone in Colorado, Northstar California, Kirkwood Mountain Resort, and Heavenly Ski Resort on the California-Nevada border. It acquired the Grand Teton Lodge Company at Grand Teton National Park in Wyoming in 1999. The GTLC property includes Lake Jenny Lodge, Jackson Lake Lodge, and Colter Bay Village.
Interestingly, Vail Resorts offers winter lift tickets under the Epic Pass program. This pass program allows users to access some of the listed mountains as well as others throughout the resort including the US, Canada, Japan and Europe (France, Switzerland, Austria, Italy).
References
External links
- Official Site
Source of the article : Wikipedia
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