Vail adds Canyons Resort to portfolio

By Jerry Limone
Vail Resorts has inked a 50-year lease to operate the Canyons Resort in Park City, Utah.

Vail takes over for Talisker Corp., which has retained development rights for 4 million square feet of real estate at the ski resort.

“Talisker has an outstanding track record of high-end resort development, and we look forward to working together to create something truly extraordinary with Talisker's 4 million square feet of remaining approved residential and commercial density at Canyons," Vail CEO Rob Katz said in a statement.

Vail will pay Talisker $25 million per year, plus inflation-based increases. Also, if the resort’s earnings before interest, taxes, depreciation and amortization exceed $35 million, Vail will pay Talisker 42% of the exceeding amount.

Vail’s 2013-14 Epic Pass will include Canyons.

This page is protected by Copyright laws. Do Not Copy. Purchase Reprint
blog comments powered by Disqus

View Comment Guidelines

Please upgrade your Flash Player.
Please upgrade your Flash Player.

Travel Weekly Poll


  • Consumer media discover that travel agents do exist

    "Contrary to some thoughts, travel agents do exist ... We are usually able to get clients better prices, and we know we can see that clients have better experiences. And as our personal motto is: Our Service Travels With You."


TW Index: Most Active Stocks

Latest Top News:
Travel Weekly is on Facebook
Viewpoints For Travel Agents
Travel Weekly Topics