Alterra Mountain Co. is upgrading the gondola at its Steamboat Ski Resort in Colorado, investing $15 million in the installation of a new eight-person model. 

The replacement project will begin immediately after the resort closes following the 2018-2019 winter season, with the new gondola expected to open next November. 

The new gondola will feature level walk-in cabins and add 12 cabins to the line, growing Steamboat's total cabin count from 125 to 137. The upgraded equipment will also shrink ride time from 12 minutes to less than 10 minutes as well as increase uphill capacity nearly 38%, from 2,600 people per hour to 3,600 per hour. 

The gondola upgrade is the latest of several resort investments. Steamboat recently introduced Taco Beast, a new food truck, and updated its Timber & Torch dining venue for winter 2018-2019 as part of a $12 million overhaul. 

According to David Perry, president and COO of Alterra Mountain Co., the company has earmarked a total of $555 million to invest company-wide over the next five years. The group's portfolio comprises 14 mountain resorts and destinations throughout six U.S. states and three Canadian provinces.

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