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Alterra Mountain Company Unveils Significant Expansion Plan for Deer Valley Resort

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Alterra Mountain Company Unveils Major Expansion Plans for Deer Valley Resort

Alterra Mountain Company, a leading mountain operating company, has announced a significant terrain expansion for Deer Valley Resort in Park City, Utah. The expansion will add 3,700 acres of terrain, doubling the resort's skiable area. In addition, a new village and portal will be developed, enhancing access to the resort and offering premier hospitality amenities in partnership with Extell Development Company. The expansion project includes the addition of 16 new lifts and a 10-passenger gondola, ensuring exceptional guest services and maintaining the resort's commitment to a ski-only experience with limited daily skier counts. A cutting-edge snowmaking system and meticulous snow grooming will support the diverse terrain, upholding Deer Valley's existing standards. The expansion will be implemented over the next three seasons, with a significant portion of the new lifts and trails expected to open as early as the 2025/2026 winter season. Once completed, Deer Valley Resort will offer 5,726 acres of ski-only terrain across 10 mountains. This expansion is part of Alterra Mountain Company's $500 million capital program aimed at enhancing the guest and employee experience across its portfolio of 17 destinations. The project reflects Alterra's commitment to delivering exceptional experiences in breathtaking locations. The new village, accessed through a new portal via U.S. Route 40, will provide convenient access to the resort from all directions. Developed in collaboration with Extell, the village will feature over 1,200 parking spots and a skier services facility offering premium ski school, equipment rentals, retail, and food and beverage amenities. The expansion is expected to create approximately 2,000 new job opportunities at Deer Valley Resort, further contributing to the local economy. In conclusion, Alterra Mountain Company's major expansion plans for Deer Valley Resort signify the company's dedication to delivering unparalleled experiences for guests. The addition of terrain, lifts, and a new village will elevate the resort's offerings, solidifying its position as a world-renowned ski destination.

A Hot Take on Alterra Mountain Company's Expansion Plans for Deer Valley Resort

Alterra Mountain Company's major expansion plans for Deer Valley Resort could have a profound impact on new businesses in the area. This move signifies not just an investment in the resort itself, but also a significant boost to the local economy.

Boost to Local Economy

The expansion is expected to create approximately 2,000 new job opportunities at Deer Valley Resort. This surge in employment could lead to an increased demand for local goods and services, benefiting businesses in the area.

Increased Tourism

The doubling of the resort's skiable area and the addition of a new village and portal are likely to attract more tourists. This could lead to higher revenues for businesses in the hospitality and retail sectors, particularly those offering ski-related products and services.
Implications for Real Estate
The partnership with Extell Development Company to develop a new village could stimulate the local real estate market. The creation of new residential and commercial spaces may attract investors and contribute to the growth of real estate businesses. In conclusion, Alterra Mountain Company's expansion plans for Deer Valley Resort could have far-reaching implications for new businesses in Park City, Utah, driving economic growth and fostering a vibrant business environment.
Story First Published at: https://financialpost.com/pmn/business-wire-news-releases-pmn/alterra-mountain-company-announces-major-expansion-of-deer-valley-resort
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