Alterra Mountain Company Announces $500M Investment Plan

Alterra Mountain Company has announced a nearly $500 million capital investment program focused on enhancing the guest and employee experience across its portfolio of destinations in the year ahead. The announcement follows last year’s milestone, when the company completed more than $1 billion in capital improvements over its first five years of operation, double the original financial commitment of $555 million announced when the company was formed.

Alterra said it will invest almost $400 million for lifts, snowmaking, summer adventures, additional guest amenities and resort infrastructure; $50 million will be dedicated to employee housing and $40 million for technology upgrades to streamline the guest experience.

  • In winter 2023/24, Steamboat’s three-year “Full Steam Ahead” project concludes with the addition of 655 acres of expert terrain in Mahogany Ridge and Fish Creek Canyon, CO. Steamboat has transformed Steamboat Square and refreshed the resort experience by adding an escalator, moving the Steamboat Gondola on snow to make room for a larger Steamboat Square featuring Skeeter’s Ice Rink, the Mountain Stage and the Range Food & Drink Hall, and introducing Greenhorn Ranch, a dedicated beginners area on-mountain.
  • Crystal Mountain’s new 25,000-square-foot skier services facility, called Mountain Commons, will bring new guest services and ticketing experience, retail, dining and an expanded slope-side beach area for the 2023/24 winter season.
  • Snowshoe is planning for the new design concept replacing Shavers Center that will feature enhanced skier services, including F&B and après offerings, and other year-round activities.

In addition, the company has significant plans to enhance the base area offerings at Deer Valley Resort, Winter Park Resort, Palisades Tahoe and Mammoth Mountain in the years ahead.

Alterra completed the installation of six lifts prior to the 2022/23 winter season. This year, Alterra will invest in an additional eight lifts, including new or replacement lifts at Steamboat, Mammoth Mountain, Winter Park Resort, Solitude Mountain Resort and Snowshoe Mountain.

  • The completion of Steamboat’s Wild Blue Gondola will increase out-of-base capacity by nearly double, whisking skiers and riders to the top of Sunshine Peak at 10,397 feet in about 12 minutes.
  • Snowshoe will replace the Powder Monkey lift with a fixed-grip quad that will increase uphill capacity in the Basin area and improve access to its Western Territory.
  • Pioneer Lift at Winter Park Resort will become a six-pack and benefit from a mid-station loading point for better return skiing.
  • Canyon Express at Mammoth Mountain will be upgraded from a quad to a high-speed six-pack to boost uphill capacity by 25 percent and allow faster reopening after weather events.
  • Eagle Express at Solitude Mountain Resort will be replaced with a high-speed six-pack lift.

Alterra also continues to make sizable investments in beginner terrain and racing facilities. The company’s investments include Steamboat’s new premier Greenhorn Ranch dedicated beginners area with terrain-based learning, four magic carpets, and the Greenhorn Ranch Express, a detachable quad lift. Enhancements are also being made to beginners areas in Deer Valley Resort, Stratton, Snowshoe and Big Bear Mountain Resort.

The ski resort company is also investing in recreational ski racing infrastructure, adding free courses to each of its mountain destinations in partnership with newly minted FIS all time World Cup record-holder, Mikaela Shiffrin, U.S. Ski and Snowboard, and Outside Interactive, Inc., owner of NASTAR.

In addition, Alterra is investing in multi-year snowmaking enhancement programs designed to bring higher-efficiency equipment to all resorts, most notably overhauling systems at Winter Park Resort, Steamboat, Palisades Tahoe, Sugarbush, Snowshoe and Mammoth Mountain.

In an effort to provide guests with mountain adventures 12 months a year, Alterra continues to refresh and expand its slate of activities. Among the larger projects:

  • Mammoth Mountain will debut the revamped Woolly’s Adventure Summit, which will include the addition of a mountain coaster. In addition, Woolly’s will break ground this summer on a permanent base lodge with F&B amenities. Future phases plan to include the addition of a zip coaster, adventure ropes courses and the relocation of Snowmobile Adventures.
  • Additional summer offerings include a new alpine slide at Winter Park and an aerial adventure course at Crystal Mountain.

Alterra is investing significant capital to improve its digital capabilities. In the year ahead, guests will benefit from additional Ikon Pass app features, significantly streamlined booking and packaging options, new RFID gate technology at most resorts, and a more connected experience on and off the mountain.

With its employees experience top of mind, Alterra is committed to doubling its portfolio-wide employee housing capacity over the next five-year investment period. In 2023, the company will add almost 500 workforce housing beds with significant expansion at Palisades Tahoe, Stratton, Tremblant and Winter Park Resort, which will mark the opening of a new premier housing facility that will house over 300 employees on resort grounds. The company is also in the planning stages for nearly 1,000 additional workforce housing beds across Palisades Tahoe, Blue Mountain, Crystal Mountain, Sugarbush and Deer Valley Resort.

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