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Vail Resorts history
Vail Resorts company history timeline
In January of 1997, Vail Associates announced the purchase of Keystone and Breckenridge.
In February 1997, Vail Resorts became the first North American ski resort to go public.
By 1997, new CEO Adam Aron had tripled sales of season passes and planned to spend another $74 million in added improvements and expansion efforts.
Vail Associates changed its name to Vail Resorts and went public in 1997 after Gillett Holdings (owned by George N. Gillett Jr.) went bankrupt.
Locals and animal rights activists protested vehemently in March 1998, objecting to what they viewed as the project's reckless encroachment on the habitats of elk and the Canada lynx.
During October of 1998, fire alarms sounded from both Two Elk Lodge and patrol headquarters.
1998: Vail Resorts purchases the Inn at Keystone; the Village at Breckenridge; and other properties; arson fires in protest of the company's controversial expansion cause more than $12 million in damages.
In 1999, Vail Resorts acquired the Grand Teton Lodge Company in Wyoming, its first resort property outside of Colorado.
By 1999 Vail Mountain had repaired the fire damage and, along with Beaver Creek, hosted the 1999 World Alpine Skiing Championships, making them the only North American venues to twice host the event.
Blue Sky Basin was the next major project, and Vail Resorts obtained permission from the USFS to install three new high-speed quads for the 1999-00 season.
In 2000, the company acquired a 51 percent stake in, and assumed management of, the Renaissance Resort and Spa in Jackson Hole, Wyoming, near Grand Teton National Park.
Work began in the summer of 2000 on another high-speed quad in Pete’s Bowl, directly to the northeast of Blue Sky Basin’s Skyline Express lift.
Apollo Management, headed by Leon Black, bought the company out of bankruptcy and took Vail Resorts public, controlling Vail Resorts through its growth until around 2003, when Apollo divested themselves of the controlling interest.
In 2004, the original Lionshead skier bridge was replaced and work began on the redevelopment of the Arrabelle and Lionshead, a multi-year project including new condos, an ice rink, and many new stores and restaurants.
Another milestone occurred in 2005 with the start of Vail’s Billion Dollar Renewal when more than half the town’s commercial areas received a facelift following an infusion of private and public sector investments.
2011 brought The 10th restaurant to Mid Vail, as well as Gondola One to replace the Vista Bahn.
New and renovated hotel units, additional commercial space and improved public spaces were included in the renewal which has contributed to Vail’s distinction as the preeminent resort industry leader which was celebrated during Vail’s 50th anniversary in 2012.
Today, in elevating Vail’s leadership position as the Premier International Mountain Resort Community, Vail proudly joined Beaver Creek in hosting the 2015 FIS Alpine World Ski Championships and has become the new home to the Burton US Open Snowboard Championships.
Vail is also poised to pursue a series of sustainability initiatives to significantly reduce its carbon footprint by the year 2020 with messages of inspiration and embrace through its “Love Vail” campaign.
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Vail Resorts competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Alterra Mountain | 1976 | $570.9M | 13,900 | 20 |
| Aspen Snowmass | 1946 | $85.0M | 1,240 | 175 |
| Panera Bread | 1981 | $2.8B | 140,000 | 3,230 |
| Chipotle Mexican Grill | 1993 | $11.3B | 64,570 | 6,441 |
| Ted's Montana Grill | 2001 | $200.0M | 3,000 | 10 |
| Planet Fitness | 1992 | $1.2B | 1,616 | 4,961 |
| VF | 1899 | $10.5B | 50,000 | 1,050 |
| Talbots | 1947 | $1.3B | 8,737 | 4 |
| Regal | 2002 | $426.1M | 26,047 | 14 |
| Eastern Mountain Sports | 1967 | $1.3B | 1,000 | - |
Vail Resorts history FAQs
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Vail Resorts may also be known as or be related to Vail Resorts, Vail Resorts Inc and Vail Resorts, Inc.