Well….Vail is at it again! This morning it was announced that Vail is acquiring Stowe Mountain Resort in Vermont, making this their first purchase in the East. The philosophy of the Vail expansion is to diversify and insulate themselves from one area of the country that is having a bad winter while at the same time offering their season pass holders (Epic Pass) a wide variety of resorts and terrain in other parts of the country and world to enjoy, as the Epic Pass is good at any and all of their resorts. Vail currently owns/operates 11 resorts in Michigan, Minnesota, Wisconsin, Colorado, Utah, California and Australia. By next ski season, Vail will also own/operate Whistler/Blackcombe in British Columbia and now Stowe in Vermont. In 2014 Vail purchased Park City Mountain Resort and quickly combined it with its neighbor, Canyons Resort, to make it the largest resort in the United States.
My observations are that this acquisition has brought a number of skiers/visitors to Park City that might not normally have come here but, since their Epic Pass is valid at the Park City Mountain Resort and Canyons Resort, they have decided to try us out. While here, many of the visitors are also enjoying the surrounding resorts of Deer Valley, Snowbird, Alta, Brighton, Solitude and Snowbasin making it a definite win for Park City.
In real estate news, we are in the middle of the President’s Day/Week holiday and the town is full. With this comes a flurry of activity as many visitors are enjoying their stay so much that they inquire about owning property here and plan on returning frequently.
In looking at what is available, I see several outstanding opportunities for buyers. In the Silver Lake region of Deer Valley (mid-mountain), Black Bear Condos offer 2 bedroom units for the lowest price of any other development in mid-mountain. A 2 bedroom condo can be purchased with an asking price of $630,000 and is located across the street from the lifts of Deer Valley and an easy walk to shopping and dining.
Another condo that I really like is in the Empire Pass area of Deer Valley and in the condo project of Flagstaff. This is a ski in/ski out development with terrific amenities. There is an in-house manager who lives there and is readily available to accommodate the needs of the owners and guests. Flagstaff is also part of the Talisker Club, which features a ski in/ski out on-mountain lounge (The Tower Club) and a golf course community with golf course, clubhouse, fitness center, pool and much more. A beautiful 3 bedroom condo there is listed for $2,545,000.
There are several condos with easy access to skiing in Deer Valley, Park City and Canyons Resorts with a wide range of prices and amenities. Contact me at 435-640-5851 or email@example.com for the most up-to-date list of what is available and my picks for good opportunities.