Vail Resorts reports strong second quarter earnings and announces plans to spend more than $130 million on resort upgrades in 2013. This bodes well for Vail real estate and the surrounding communities. CEO of Vail Resorts Rob Katz announced that the level of capital investment in 2013 is unprecedented in size. Reinvestment projects include a new Beaver Creek restaurant at Red Tail Camp, the replacement of Chair 4 at Vail with a high-speed 6 person chairlift and terrain expansion for Peak 6 in Breckenridge.
"This season further underscores the strength of our business model, which is to continually reinvest in our world-class resorts and provide exceptional guest service and a comprehensive vacation experience," Katz said.