Alterra Mountain Company to Invest Over $300 Million in Additional Capital to Improve the Guest Experience

The latest commitment continues the company’s industry-leading capital investment cycle, which includes the first phase of the major Deer Valley expansion

Today, Alterra Mountain Company, the world’s premier mountain operating company, announces a capital investment program of over $300 million, focused on on-mountain improvements to enhance the guest experience across its portfolio of North American destinations.

Alterra will invest in new and refurbished lifts, additional snowmaking enhancement programs, summer activities, and resort infrastructure. In the past year, Alterra completed Steamboat’s three-year Full Steam Ahead project with the opening of 655 new acres of expert terrain in Mahogany Ridge and Fish Creek Canyon, plus the Wild Blue Gondola, now the longest gondola in North America and the fastest 10-person gondola in the country. In the coming years, Alterra’s marquee ski destination, Deer Valley in Utah, will see a major expansion and new base area, Deer Valley East.

“At Alterra Mountain Company, we continue to believe our guests deserve a premium experience at every one of our beloved destinations and we are continuing to concentrate on investments that make that a reality,” said Jared Smith, President & CEO, Alterra Mountain Company. “During this significant capital investment cycle, we have been focused on making improvements that all of our guests will see, while reimagining and doubling down on some of our most iconic properties like Steamboat and Deer Valley.”

Deer Valley East Village & Terrain Expansion

Deer Valley's extraordinary terrain expansion will begin to come to life this winter when the first chairlifts begin to spin from the new Deer Valley East Village. This season, Deer Valley will debut three new chairlifts, over 300 new skiable acres, several new ski runs, and 500 additional day-skier parking spots. This new resort gateway will offer skiers an alternative arrival option to Deer Valley via U.S. Route 40, helping to reduce traffic throughout Park City.

Keetley Express, one of the three new chairlifts expected to open in December 2024, conditions permitting, and Deer Valley’s first 6-person chairlift with a bubble, will include direct access from the new Deer Valley East Village into the existing Deer Valley footprint, dropping skiers off near the bottom terminal of the Sultan Express chairlift on Bald Mountain. The extra two chairlifts, Hoodoo Express and Aurora, will service new beginner-level ski trails and return access into the new Deer Valley East Village.

For the 24/25 season, the Deer Valley East Village will have limited day-skier amenities, including a rental shop, complimentary ski storage, and ticketing. A complimentary skier shuttle will transport guests from the day-skier parking directly to the amenities and lift access.

When all phases of expansion are complete, Deer Valley will add 3,700 acres of skiable terrain, more than doubling the size of the resort and making Deer Valley one of the largest ski resorts in North America. This project represents Deer Valley's first terrain expansion since 2008 and stands as one of the most significant expansions in the ski industry over the past four decades.

Elevated Guest Amenities

With an eye towards providing all our guests with options that suit their needs, Alterra has committed to investing in the transformation of its base areas and on-mountain amenities, including food and beverage and skier services offerings through a variety of projects scheduled to come online for the 24/25 season.

• Crystal Mountain officially opened its Mountain Commons Lodge over the summer and will be fully online for the 24/25 winter season. This new 25,000 square foot facility includes full-service skier service amenities and a variety of food & beverage options for guests, including the new Brew 62 Café, an upstairs dining area and bar, and an expanded slope-side area for guests to take in the incredible scenic views.
• Mammoth Mountain will see further improvements to Woolly’s Adventure Summit, including a new full-service Day Lodge, the re-opening of the Mountain Coaster, and the addition of summer tubing lanes which opened in Summer 2024. Woolly’s Mountain Coaster provides a thrilling ride down exciting curves, spiral twists, and roller jumps through the forest as they descend over 3,500 feet of downhill track back down to Woolly’s Day Lodge. Anticipated to open for winter 24/25, Woolly’s Day Lodge will feature 6,000 square feet of facilities to serve guests including public restrooms, ticketing, food & beverage, retail goods, and indoor and outdoor patio dining areas.
• Steamboat Grand Hotel reopens in November after a complete overhaul in infrastructure plus guests will experience new furniture and décor in the rooms and other features throughout the building.
• The Sundog Taproom will be the new hot spot in the heart of the Winter Park base village. This casual eatery and taproom will add more than 130 seats and 30 self-serve taps of beer, providing a new gathering spot for skiers and riders and families.

New and Refurbished Lifts

Skiers and riders will ride more efficiently at several Alterra destinations next winter. This year, Alterra will invest in an additional seven lifts, including new or replacement lifts aimed at increasing skier capacity and speed at Mammoth Mountain, Big Bear Mountain Resort, Sugarbush, plus lift refurbishments at Mammoth Mountain, Steamboat, and Stratton, aimed at offering improved operational reliability.

• Mammoth Mountain will replace Broadway Express (Chair 1), the mountain’s longest running chair, with a massive upgrade from an early detachable quad to one of the world’s fastest high-speed 6-person chairs, which will increase capacity by 25%, and improve opening times after major weather events. This upgrade follows a replacement of Canyon Express (Chair 16) last season. Other upgrades are being made to further modernize the mountain's chairlifts to reduce stoppages and wait times for guests. Face Lift Express (Chair 3) and Unbound Express (Chair 6) will receive upgrades to improve the efficiency and reliability of the chairlifts.
• Big Bear Mountain Resort will replace both Chair 2 and Chair 5 at Bear Mountain with a single high-speed 6-person chair, which will have a new alignment to provide dramatically improved access and flow around the mountain.
• Sugarbush will replace the Heaven’s Gate triple lift with a new 4-person lift to provide an enhanced summit experience, more weather resistance, and greater reliability.
• Stratton will modernize the Ursa Lift to improve operational efficiency and maximize uphill capacity.

More Efficient Snowmaking

To help ensure a consistent season length and a quality experience, Alterra is investing in robust, multi-year snowmaking enhancement programs designed to bring higher efficiency equipment to resorts. Winter Park will see the culmination of a $37 million, two-year effort to completely rebuild the snowmaking infrastructure from the ground up, an investment that will improve system capacity and efficiency to help ensure more early-season terrain openings. Other notable upgrade efforts include increased coverage at Mammoth Mountain, Palisades Tahoe, Big Bear Mountain Resort, Stratton, and Sugarbush. These new systems all favor increased energy efficiency and reduced water usage allowing our destinations to improve the guest experience while reducing our environmental impact.

About Alterra Mountain Company

Alterra Mountain Company is a family of iconic year-round mountain destinations, the world’s largest heli-skiing operation, and Ikon Pass - the premier ski and snowboard season pass offering access to more than 50 iconic mountain destinations around the world. Headquartered in Denver, Colorado and born out of a shared love of the mountains and adventure, the company has brought together some of the world’s most aspirational brands, including: Steamboat and Winter Park in Colorado; Palisades Tahoe, Mammoth Mountain, June Mountain, Big Bear Mountain Resort and Snow Valley in California; Stratton Mountain and Sugarbush Resort in Vermont; Snowshoe Mountain in West Virginia; Tremblant in Quebec and Blue Mountain in Ontario, Canada; Crystal Mountain in Washington; Schweitzer in Idaho; Deer Valley Resort and Solitude Mountain Resort in Utah; and CMH Heli-Skiing & Summer Adventures and Mike Wiegele Helicopter Skiing in British Columbia. Also included in the portfolio are Alpine Aerotech, a worldwide helicopter support and maintenance service center in British Columbia, Canada, Aspenware, the ski industry leader in technology services and e-commerce, and Ski Butlers, the global leader in ski and snowboard rental delivery. For more information, please visit www.alterramtn.co.

About Ikon Pass

The Ikon Pass welcomes skiers and riders to a community of inspiring mountain destinations and the people who live and play among them across the Americas, Europe, Australia, New Zealand, and Japan. Brought to you by Alterra Mountain Company, the Ikon Pass unlocks adventure at iconic and unique destinations including Aspen Snowmass, Steamboat, Winter Park, Copper Mountain Resort, Arapahoe Basin, and Eldora Mountain Resort in Colorado; Palisades Tahoe, Sierra-at-Tahoe, Mammoth Mountain, June Mountain, Big Bear Mountain Resort and Snow Valley in California; Jackson Hole Mountain Resort in Wyoming; Big Sky Resort in Montana; Alyeska Resort in Alaska; Stratton, Sugarbush Resort, and Killington in Vermont; Windham Mountain Club in New York; Snowshoe in West Virginia; The Highlands and Boyne Mountain in Michigan; Crystal Mountain and The Summit at Snoqualmie in Washington; Mt. Bachelor in Oregon; Sun Valley and Schweitzer in Idaho; Tremblant in Quebec and Blue Mountain in Ontario, Canada; SkiBig3 in Alberta, Canada; Revelstoke Mountain Resort, RED Mountain, Cypress Mountain, Panorama Mountain Resort and Sun Peaks Resort in British Columbia, Canada; Sunday River and Sugarloaf in Maine; Loon Mountain in New Hampshire; Camelback Resort and Blue Mountain Resort, Taos Ski Valley, New Mexico; Deer Valley Resort, Solitude Mountain Resort, Brighton Resort, Alta Ski Area, Snowbird and Snowbasin in Utah; Chamonix Mont-Blanc Valley in France; Dolomiti Superski in Italy; Grandvalira Resorts Andorra in Andorra; Kitzbühel in Austria; Zermatt and St. Moritz in Switzerland; Thredbo and Mt Buller in Australia; Coronet Peak, The Remarkables, Mt Hutt in New Zealand; Niseko United and Arai Snow Resort in Japan, and Valle Nevado in Chile. Special offers are available at CMH Heli-Skiing & Summer Adventures and Mike Wiegele Helicopter Skiing. For more information, please visit www.ikonpass.com.

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