New Vail Mountain Base Village Planned in Partnership Between Town of Vail, Vail Resorts, and East West Partners
The Town of Vail, Vail Resorts, and East West Partners have announced a partnership to develop a fourth base village at Vail Mountain in the West Lionshead area. The project aims to reinforce Vail Mountain's status as a world-class destination, featuring new lodging, restaurants, boutiques, and skier services. It will also include community benefits such as workforce housing, public spaces, transit, and parking.
The Vail Town Council voted unanimously in favor of the partnership and creating a new master plan for the development. As part of the agreement, Vail Resorts will dismiss its appeal of the Town's condemnation of the company's East Vail property. East West Partners will lead the community engagement and design process, followed by the entitlement process.
The initiative represents a new era of collaboration between the Town of Vail and Vail Resorts, with a shared vision for Vail's future. Community input will be sought through open houses starting this fall, and the project is subject to all applicable entitlement and approval processes.
La Città di Vail, Vail Resorts e East West Partners hanno annunciato una partnership per sviluppare un quarto villaggio base nella zona di West Lionshead a Vail Mountain. Il progetto mira a rafforzare lo status di Vail Mountain come destinazione di classe mondiale, con nuove sistemazioni, ristoranti, boutique e servizi per gli sciatori. Include anche benefici per la comunità come abitazioni per lavoratori, spazi pubblici, trasporti e parcheggi.
Il Consiglio Comunale di Vail ha votato all'unanimità a favore della partnership e della creazione di un nuovo piano generale per lo sviluppo. Come parte dell'accordo, Vail Resorts ritirerà il suo appello contro la condanna da parte della Città della proprietà East Vail della compagnia. East West Partners guiderà il processo di coinvolgimento della comunità e di progettazione, seguito dal processo di autorizzazione.
L'iniziativa rappresenta una nuova era di collaborazione tra la Città di Vail e Vail Resorts, con una visione condivisa per il futuro di Vail. Si recherà richiesta di partecipazione della comunità attraverso eventi informativi a partire da quest'autunno, e il progetto sarà soggetto a tutti i processi di autorizzazione e approvazione applicabili.
El pueblo de Vail, Vail Resorts y East West Partners han anunciado una asociación para desarrollar una cuarta aldea base en Vail Mountain en el área de West Lionshead. El proyecto tiene como objetivo reforzar el estatus de Vail Mountain como un destino de clase mundial, con nuevos alojamientos, restaurantes, boutiques y servicios para esquiadores. También incluirá beneficios comunitarios como viviendas para trabajadores, espacios públicos, transporte y estacionamiento.
El Consejo Municipal de Vail votó unánimemente a favor de la asociación y la creación de un nuevo plan maestro para el desarrollo. Como parte del acuerdo, Vail Resorts retirará su apelación contra la condena del pueblo sobre la propiedad East Vail de la compañía. East West Partners liderará el proceso de participación comunitaria y diseño, seguido del proceso de autorización.
La iniciativa representa una nueva era de colaboración entre el pueblo de Vail y Vail Resorts, con una visión compartida para el futuro de Vail. Se buscará la opinión de la comunidad a través de jornadas de puertas abiertas que comenzarán este otoño, y el proyecto estará sujeto a todos los procesos de autorización y aprobación aplicables.
베일 타운, 베일 리조트, 그리고 이스트 웨스트 파트너스가 웨스트 라이온스헤드 지역의 베일 마운틴에 네 번째 기초 마을을 개발하기 위한 파트너십을 발표했습니다. 이 프로젝트는 새로운 숙소, 레스토랑, 부티크 및 스키어 서비스를 포함하여 베일 마운틴의 세계적 수준의 목적지로서의 위상을 강화하는 것을 목표로 합니다. 또한 근로자 주택, 공공 공간, 교통 및 주차와 같은 지역 사회 혜택도 포함됩니다.
베일 타운 위원회는 파트너십 및 개발을 위한 새로운 종합 계획 수립에 만장일치로 찬성했습니다. 협약의 일환으로 베일 리조트는 회사의 이스트 베일 재산에 대한 마을의 정당화에 대한 항소를 철회할 것입니다. 이스트 웨스트 파트너스는 지역 사회 참여 및 디자인 프로세스를 주도하며, 그 후 권한 승인 프로세스가 진행될 것입니다.
이 이니셔티브는 베일 타운과 베일 리조트 간의 협력의 새로운 시대를 나타내며, 베일의 미래를 위한 공동 비전을 가지고 있습니다. 커뮤니티의 의견은 이번 가을부터 시작되는 공개 행사들을 통해 모아질 예정이며, 프로젝트는 모든 관련 권한 및 승인 프로세스의 적용을 받을 것입니다.
La ville de Vail, Vail Resorts, et East West Partners ont annoncé un partenariat pour développer un quatrième village de base dans la zone de West Lionshead à Vail Mountain. Le projet vise à renforcer le statut de Vail Mountain en tant que destination de classe mondiale, avec de nouveaux logements, restaurants, boutiques et services pour les skieurs. Il inclura également des avantages pour la communauté tels que logement pour les travailleurs, espaces publics, transports et parkings.
Le Conseil municipal de Vail a voté à l'unanimité en faveur du partenariat et de la création d'un nouveau plan directeur pour le développement. Dans le cadre de l'accord, Vail Resorts retirera son appel contre la condamnation de la propriété East Vail de la ville. East West Partners dirigera le processus d'engagement communautaire et de conception, suivi du processus d'autorisation.
L'initiative représente une nouvelle ère de collaboration entre la ville de Vail et Vail Resorts, avec une vision partagée pour l'avenir de Vail. La participation de la communauté sera sollicitée lors de portes ouvertes à partir de cet automne, et le projet sera soumis à tous les processus d'autorisation et d'approbation applicables.
Die Stadt Vail, Vail Resorts und East West Partners haben eine Partnerschaft angekündigt, um ein viertes Basisdorf in der West Lionshead-Gegend am Vail Mountain zu entwickeln. Das Projekt zielt darauf ab, den Status des Vail Mountain als Weltklasse-Destination zu stärken und umfasst neue Unterkünfte, Restaurants, Boutiquen und Dienstleistungen für Skifahrer. Es werden auch Gemeinschaftsleistungen wie Wohnungen für die Arbeitskräfte, öffentliche Räume, Verkehrsanbindungen und Parkmöglichkeiten eingeschlossen.
Der Stadtrat von Vail hat einstimmig für die Partnerschaft und die Erstellung eines neuen Masterplans für die Entwicklung gestimmt. Im Rahmen der Vereinbarung wird Vail Resorts seine Einsprache gegen die Enteignung des Ost-Vail-Eigentums des Unternehmens durch die Stadt zurückziehen. East West Partners wird den Prozess der Bürgerbeteiligung und des Designs leiten, gefolgt vom Genehmigungsprozess.
Die Initiative stellt ein neues Zeitalter der Zusammenarbeit zwischen der Stadt Vail und Vail Resorts dar, mit einer gemeinsamen Vision für die Zukunft von Vail. Die Gemeinschaft wird durch offene Veranstaltungen, die in diesem Herbst beginnen, nach ihrer Meinung gefragt, und das Projekt unterliegt allen anwendbaren Genehmigungs- und Genehmigungsprozessen.
- Partnership to develop a new base village, enhancing Vail Mountain's appeal as a world-class destination
- Unanimous approval from Vail Town Council for the partnership and master plan creation
- Inclusion of community benefits such as workforce housing, public spaces, transit, and parking
- Renewed collaboration between the Town of Vail and Vail Resorts
- Potential for significant investment in Vail's infrastructure and amenities
- Dismissal of Vail Resorts' appeal for the East Vail property condemnation
- Project still subject to entitlement and approval processes, which could delay implementation
Insights
This partnership to develop a fourth base village at Vail Mountain is a significant strategic move for Vail Resorts. The project addresses several key areas:
- Enhanced resort experience, potentially increasing visitor numbers and revenue
- Improved community relations through collaboration with the Town of Vail
- Addressing workforce housing issues, a critical challenge in resort towns
- Diversification of revenue streams through new lodging, retail and dining options
The dismissal of the East Vail property appeal suggests a compromise that could lead to smoother future developments. This project could set a precedent for resort town development, balancing commercial interests with community needs. The involvement of East West Partners brings expertise in high-end mountain community development, potentially elevating the quality and appeal of the project.
While the financial details aren't disclosed, projects of this scale typically involve
This development represents a significant long-term investment for Vail Resorts (MTN), with potential for substantial returns. Key financial implications include:
- Increased revenue streams from new lodging, retail and dining facilities
- Potential for higher property values and rental income
- Enhanced competitiveness in the luxury ski resort market
- Improved operational efficiencies with a new base village
While initial capital expenditure will be high, the project aligns with Vail's strategy of continual resort improvement to maintain premium pricing. The partnership structure may help distribute costs and risks, potentially improving the project's financial viability.
The resolution of the East Vail property dispute removes a potential legal liability and associated costs. Addressing workforce housing could lead to better employee retention and reduced labor costs in the long term.
Investors should monitor for future disclosures on project costs, expected ROI and impact on annual capital expenditure plans. This development could be a significant driver of long-term value for MTN, reinforcing its position as a leader in the ski resort industry.
Today, the Vail Town Council voted unanimous in favor of the partnership and creating a new master plan for the West Lionshead base village development. The Town Council will update the Town's Strategic Plan to reflect that West Lionshead is a priority that will improve the resort experience and benefit the community. The Town will partner with Vail Resorts and East West Partners on the community process to create a new vision and the master plan for the West Lionshead area. The partnership to develop the West Lionshead base village includes incremental workforce housing. As a result, Vail Resorts will dismiss its appeal of the
East West Partners in collaboration with the Town and Vail Resorts will drive community engagement and the design of West Lionshead. After a master plan is completed, East West Partners and Vail Resorts will then pursue the entitlement process for the West Lionshead base village. As the developer, East West Partners brings expertise in balancing economic, environmental, and social responsibilities, along with a proven track record of bringing successful projects to life in premier mountain communities.
Today's announcement represents a new era of collaboration between the
"It is a shared goal of the
"We appreciate the Town's partnership and shared vision for the West Lionshead base village that will benefit our community, our employees, and our guests," said Beth Howard, Vice President and Chief Operating Officer of Vail Mountain. "We look forward to this next chapter of building the future together. And we appreciate that East West Partners is a part of the partnership, given they are known for creating meaningful places that bring people together, with creativity and expertise."
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The development of the West Lionshead base village will undergo a community engagement process starting this fall that will include open houses where community members can offer input on the initiative's vision, design, and planning. The initiative is subject to all applicable entitlement and approval processes.
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About Vail Resorts, Inc. (NYSE: MTN)
Vail Resorts is a network of the best destination and close-to-home ski resorts in the world including Vail Mountain, Breckenridge, Park City Mountain, Whistler Blackcomb, Stowe, and 32 additional resorts across North America; Andermatt-Sedrun and Crans-Montana Mountain Resort in Switzerland; and Perisher, Hotham, and Falls Creek in Australia – all available on the company's industry-changing Epic Pass. We are passionate about providing an Experience of a Lifetime to our team members and guests, and our EpicPromise is to reach a zero net operating footprint by 2030, support our employees and communities, and broaden engagement in our sport. Our company owns and/or manages a collection of elegant hotels under the RockResorts brand, a portfolio of vacation rentals, condominiums and branded hotels located in close proximity to our mountain destinations, as well as the Grand Teton Lodge Company in Jackson Hole, Wyo. Vail Resorts Retail operates more than 250 retail and rental locations across North America. Learn more about our company at www.VailResorts.com, or discover our resorts and pass options at www.EpicPass.com.
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SOURCE Vail Resorts, Inc.
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