Saturday, December 12, 2020, NewEnglandSkiIndustry.com
Quantum 4 at Okemo
Nearly eight months after cancelling its 2020 capital projects, Vail has renewed plans to improve Okemo next year. The project represents Vail's first major New England investment, following its fourth season operating resorts in the region.
Green Ridge Triple at Okemo
In a press release issued this week, Vail Resorts announced two lift projects at Okemo. The Quantum 4, a 2002 Leitner Poma detachable quad that was upgraded with bubbles in 2015, will be replaced with a six person chairlift. The Quantum 4 lift will be relocated from Jackson Gore to the main mountain, replacing the 1986 Doppelmayr Green Ridge Triple. It is not yet known if the new or relocated lifts will have bubbles.
Vail Resorts first entered New England in 2017 with the acquisition of Stowe. Okemo and Sunapee were added with the acquisition of Triple Peaks in 2018, followed by Mt. Snow, Crotched, Attitash, and Wildcat with the acquisition of Peak Resorts in the fall of 2019.
Vail's first quarter revenue decreased by over 50% due to operational impacts from COVID-19. The company has nearly $2.5 billion in debt and posted a first quarter loss of over $150 million. The company noted it had sold 20% more season passes than a year ago, though the financial comparison was negligible due to passholder credits. The company noted particular concerns about its Canadian and Vermont resorts due to travel restrictions.
