Vail Resorts has entered into a long-term lease with partner companies of Talisker Corporation for Canyons Resort in Park City, Utah. Under the lease, Vail Resorts will oversee all of resort operations of Canyons while Talisker has kept its development rights for four million square feet of real estate at the resort.
“With 4,000 skiable acres, easy access to the town of Park City and $75 million in recent resort improvements, Canyons is a perfect complement to our collection of world-class mountain resorts,” said Rob Katz, chairman and chief executive officer of Vail Resorts. "We look forward to building on that momentum and including Canyons in our industry-leading season pass products, which next season will offer guests access to Colorado, Tahoe and Utah on one season pass, a first in ski industry history." As Canyons continues to develop, Vail Resorts will leverage guest databases and domestic and international sales and marketing efforts.
The lease could also include the land under the ski terrain of Park City Mountain Resort that is adjacent to Canyons and currently owned by Talisker and is subject to pending litigation.
"Vail Resorts is the clear leader in the mountain resort industry and I am confident that they can replicate at Canyons the success they have delivered at resorts such as Vail, Beaver Creek, Breckenridge and Northstar," said Jack Bistricer, chief executive officer of Talisker. "I am incredibly proud of all that our team has accomplished at Canyons over the past five years and am confident that together with Vail Resorts, we can create one of the greatest mountain resorts in the world."
Resort guests who buy the Epic Pass for the 2013-2014 winter season will receive unlimited and unrestricted access to Canyons, as well as to Vail, Beaver Creek, Breckenridge, Keystone, Northstar, Heavenly and Kirkwood. The 2013-2014 Epic Pass is on sale now at $699 for adults.