Real Estate to the Rescue for Ski Resorts

In Snowmass Village, at the base of one of Aspen Skiing Co’s four mountains, town officials expected a tight election late-Thursday on whether to allow Aspen Skiing and Intrawest to build $400 million worth of shops, restaurants, housing and other amenities.

Base development bolsters bottom line for ski resorts

DENVER — A few decades ago, people flocked to Vail and Aspen to ski. There was little else to do in the winter and the fledgling ski resorts were virtual ghost towns in the summer.

These days, people are drawn to the Vail Valley and Aspen every month of the year. They watch performances of the New York Philharmonic and the Bolshoi Ballet, indulge themselves at gourmet food-and-wine festivals, play golf, shop, go mountain biking or kayaking, and just soak up the mountain-town atmosphere.

The evolution of the North American ski resort has shifted away from more chairlifts and ski slopes. Resort companies looking for a solution to flat skier numbers are increasingly relying on real estate sales to bolster the bottom line.

By JON SARCHE
Associated Press writer

Full Story: http://www.cdapress.com/articles/2005/02/06/business/bus01.txt