Alterra Mountain Company Announces Major Expansion of Deer Valley Resort

Utah Resort Will Double Its Skiable Terrain While Adding Premier Hospitality via a New Village and Portal

Alterra Mountain Company, the world’s premier mountain operating company, has announced a major terrain expansion of Deer Valley Resort that will add 3,700 acres of terrain to its world-renowned, ski-only destination located in the Wasatch Mountains in Park City, Utah. In addition, the development of a new village and portal will dramatically improve access to the resort while adding world-class lodging, dining, and retail amenities in partnership with Extell Development Company.

The expansion will more than double Deer Valley’s skiable terrain, adding 16 new lifts and a new 10-passenger gondola, affirming the resort's commitment to delivering exceptional guest services and a ski-only experience with limited daily skier counts. The diverse terrain will also be supported by a new cutting-edge snowmaking system and feature precise snow grooming that adheres to Deer Valley's existing standards. The last time Deer Valley saw a significant terrain expansion was for the 2007/2008 winter season, with the addition of 200 acres of skiing on Lady Morgan Mountain.

The complete project will unfold over the next three seasons, with a significant portion of the new lifts and trails set to open as early as the 25/26 winter season. When completed, Deer Valley will offer 5,726 acres of ski-only terrain spread across 10 mountains.

The Deer Valley investment is in addition to the $500 million capital program announced by Alterra earlier this year to enhance the guest and employee experience across its portfolio of 17 destinations.

“Alterra Mountain Company is committed to investing in large-scale projects that will deliver differentiated experiences in incredible places and this project is exactly that,” said Jared Smith, President & CEO, Alterra Mountain Company. “Deer Valley has long been a world-renowned resort and this project will offer guests more of what it has always been known for - legendary service, an exceptional ski-only experience, and industry-leading culinary offerings.”

The resort’s new terrain and village will be entered directly from a new portal via U.S. Route 40, creating a major eastern portal that adds convenient access to the resort from nearly every direction.

Envisioned in partnership with renowned luxury real estate developer Extell, the village and portal will feature over 1,200 new parking spots, and a new skier services facility offering additional premium ski school, equipment rentals, retail, and food and beverage amenities.

“Deer Valley Resort is known across the globe for its unique approach to first-class service. We are committed to building on their well-respected reputation and legacy by attracting some of the world’s best brands, in addition to elevating the living experience by creating luxury residences with exquisite architecture and design,” said Gary Barnett, Founder & Chairman, Extell Development Company. “This partnership with Deer Valley brings together two of the very best in the business of real estate, service and hospitality, and we look forward to working with them to create what will be the crown jewel of Utah.”

In addition to the ski-specific amenities, the new village is slated to have over 800 hotel rooms across multiple properties, nearly 1,700 residential units, 250,000 square feet of retail and commercial space, and 68,000 square feet for recreation center. In addition, the multi-faceted development is expected to create approximately 2,000 new Deer Valley job opportunities.

“Deer Valley Resort is committed to building upon our legacy as one of the world’s most exceptional ski areas while staying true to our founding principles created over four-decades ago,” said Todd Bennett, President & COO, Deer Valley Resort. “This expansion will facilitate even better access to the resort for our guests, while offering a substantial increase in world-class amenities consistent with the resort’s original vision.”

A map of Deer Valley’s planned ski terrain expansion can be viewed here.

A photo gallery of the expanded terrain is available for download here: PHOTOGALLERYLINK

Copyright © 2023 Deer Valley Resort Company. All rights reserved

Additional assets, timelines and updates on Deer Valley’s future are available at https://expandedexcellence.deervalley.com.

About Alterra Mountain Company

Alterra Mountain Company is a family of 17 iconic year-round resorts, the world’s largest heli-skiing operation, and Ikon Pass - the premier ski and snowboard season pass offering access to more than 50 iconic mountain destinations around the world. Headquartered in Denver, Colorado and born out of a shared love of the mountains and adventure, the company has brought together some of the world’s most aspirational brands, including: Steamboat and Winter Park in Colorado; Palisades Tahoe, Mammoth Mountain, June Mountain, Big Bear Mountain Resort and Snow Valley in California; Stratton Mountain and Sugarbush Resort in Vermont; Snowshoe Mountain in West Virginia; Tremblant in Quebec and Blue Mountain in Ontario, Canada; Crystal Mountain in Washington; Schweitzer in Idaho; Deer Valley Resort and Solitude Mountain Resort in Utah; and CMH Heli-Skiing & Summer Adventures in British Columbia. Also included in the portfolio is Alpine Aerotech, a worldwide helicopter support and maintenance service center in British Columbia, Canada, Aspenware, the ski industry leader in technology services and e-commerce, and Ski Butlers, the global leader in ski and snowboard rental delivery. For more information, please visit www.alterramtn.co.

About Deer Valley Resort

Deer Valley Resort located in Park City, Utah, revolutionized the ski industry by providing the first-class service one would receive at a five-star hotel. The ski-only resort offers 21 chairlifts, 103 ski runs, six bowls, 300 annual inches of powder, 2,026 acres of alpine skiing, limited lift ticket sales, numerous restaurants, three elegant day lodges, hundreds of luxury accommodations and a renowned Ski School and Children’s Center. Deer Valley is honored to be ranked as the United States’ Best Ski Resort by the World Ski Awards for 10 consecutive years.

About Extell Development Company

Founded and headed by Gary Barnett, Extell Development Company is a nationally acclaimed real estate developer of residential, commercial, retail, hospitality, and mixed-use properties, operating primarily in Manhattan and other premier cities across the nation. In collaboration with world-class architects and design professionals, Extell creates properties distinguished by sophisticated design, gracious floor plans and first-class amenities. Having pioneered development on Manhattan's Billionaires’ Row, the firm has developed some of the city's most notable luxury properties including Central Park Tower, the tallest residential building in the world, and One57, the record-breaking glass tower above Park Hyatt's five-star flagship hotel. Additional completed projects within the portfolio include One Manhattan Square on the Lower East Side; Brooklyn Point in Downtown Brooklyn; The Lofts Pier Village along the New Jersey Shore; The Intercontinental Hotel and Residences in Boston, MA; 175 West Jackson Street in Chicago, IL; The Four Seasons Resort and Residences Vail in Vail, CO; and The Four Seasons Resort and Club Dallas at Las Colinas in Dallas, TX. For more information, please visit www.extell.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230824394744/en/