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Steamboat New Mountain Village Improvements Transform 2009/2010 Resort Experience

Press Release

August 26 2009
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Steamboat Springs, CO - The Steamboat Base Area transformation comes to life this winter with the completion of One Steamboat Place development, the Wildhorse Gondola, nearly $2.5 million in on-mountain improvements, and phase one of the resort’s year-round pedestrian promenade.

“Despite market conditions, this resort community continues to focus on the guest experience, making significant investments on the resort’s infrastructure,” said Chris Diamond, president and chief operating officer for the Steamboat Ski & Resort Corporation. “The highly anticipated on-mountain momentum, more than $30 million in the past four years, augments $20 million in completed and planned public revitalization projects, complemented by an array of private developments sweeping the mountain village, literally transforming the overall mountain village experience.”

Specifically for the 2009/10 winter season, the Steamboat Ski Resort is opening a new Ski & Snowboard School ticket office and expanding the Kids’ Vacation Center in conjunction with the opening of One Steamboat Place. In addition, the resort’s on-mountain momentum includes enhancements to its state-of-the-art snowmaking system, new base patrol facility and expansion of the Meadows parking area. These efforts augment numerous private multi-million-dollar projects sweeping the mountain village including One Steamboat Place, Edgemont, Trailhead Lodge and its associated Wildhorse Gondola, which is scheduled to open in February 2010.

“Combined, these projects represent the most significant enhancements to the base area in years,” continued Diamond. “Steamboat is legendary for its genuine friendliness and a town whose roots are deeply set in the real west. These attributes are what set the community apart; and will carry on a main stay of the new base area revitalization and vitality.”

Steamboat Unbridled: Throughout The Mountain Village

The City of Steamboat Springs passed an Urban Renewal Authority (URA) in 2005 to ignite redevelopment of the resort’s base area. So far, more than $20 million in Steamboat Unbridled revitalization projects are underway or currently in development. Steamboat Unbridled represents a renaissance to the mountain area, downtown and Steamboat/Hayden airport that holds true to the heart and soul of Ski Town, U.S.A.® The current planned public improvements follow two years of multi-million dollar investments which delivered public amenities including a bus and shuttle stop at Ski Time Square; a dynamic way-finding system of signs and banners; roundabout traffic feature at Après-Ski Way, and a redesigned Gondola Square Transit Center.

In early May 2009, the Steamboat Springs Redevelopment Authority moved forward with a $12.5 million bond offering providing for the highly anticipated base area promenade, a large public plaza connecting the Gondola Square to Ski Time Square, and the daylighting of Burgess Creek. The first phase of the base area promenade will be delivered this season with the completion of One Steamboat Place on the south side as well as portions on the north end in the vicinity of Torian Plum. The promenade, which is projected to cost $8 million, is scheduled for completion in 2012. It will provide a year-round pedestrian walkway around the base of the ski mountain, connecting Steamboat’s distinctive resort amenities: skiing, shopping, dining, accommodations and transportation.

In addition, a series of private developments will greet guests this season. From One Steamboat Place to Edgemont and Trailhead Lodge to the Wildhorse Gondola, together these new projects establish a new chapter in the evolution of the mountain village and base area.

One Steamboat Place - One Steamboat Place, a 450,000 ft2 ski-in/ski-out destination, is immediately adjacent to the resort’s Gondola. An expansive outdoor public plaza connects directly to the slopes and Gondola Square. It includes a variety of retail shops, the new Truffle Pig restaurant (with both indoor and outdoor seating), a tranquil Zen-inspired spa, fitness & yoga facility, outdoor pools and additional member services and amenities. One Steamboat Place, a Timber Resort property, is scheduled to open in December 2009 and features 80 residences, including 42 luxury Residence Club units.

Edgemont - Just steps from the mountain village with 360-degree views of the ski slopes and surrounding valley, the seven-story Edgemont property is highlighted by 230,000 ft2 of residential units, pool, hot tub patio, fitness facility, media and entertainment room, ski lockers and outdoor fire pit. Completion is anticipated this season.

Trailhead Lodge - The 176,000 ft2 Trailhead Lodge sits in the heart of Wildhorse Meadows, located steps from the new Wildhorse gondola (opening Feb. 2010). Trailhead Lodge’s fully furnished residential suites embody the character of Wildhorse Meadows by incorporating the authentic heritage of the area with the comforts of today.

Wildhorse Gondola - Leitner-Poma of America, Inc., will build a pulse gondola linking Trailhead Lodge with the base of the Steamboat Ski Resort. The Wildhorse Gondola will cover the 2,000-foot distance to the resort’s base in four minutes and will feature four groups of two, six-passenger cabins for a capacity of 340 people per hour. This lift is anticipated to carry its first passengers to the new base area plaza in February 2010.

The combination of public and private investment in the base area will recreate the winter and summer experience in Steamboat Ski Town, U.S.A. as nearly $1 billion is anticipated to be spent on Steamboat Unbridled now and in the coming years.

2009/2010 On-Mountain Improvements:

Kids’ Vacation Center: When you’re the #1 Family Resort in the West, what next? Whether a recent arrival to snow or an experienced skier, taking care of our littlest guests has always been a priority at Steamboat. The resort holds a national reputation for the best children’s programs in the country and the latest move adds to a plethora of family specific improvements over the past several years.

The Kids’ Vacation Center’s new slopeside entrance will add 3,000 sq. ft., nearly a 40% increase, to the comprehensive children’s complex. Eight new registration kiosks will whisk young snow enthusiasts into a redesigned kid-friendly, western-themed facility with the overall goal of expediting check-in, streamlining functionality, augmenting security and delivering a better family experience. In addition, a limited number of private vehicle drop-off spaces, located in the heated, covered garage of One Steamboat Place, will provide restricted, time-controlled, close-in slopeside access to the new children’s facility.

Ski & Snowboard School Ticket Office @ One Steamboat Place: The new Ski & Snowboard Ticket Office is a modern facility located just steps from the gondola on the main plaza level of One Steamboat Place. This 3,800 sq. ft. complex is the one-stop, hassle-free location for all Ski & Snowboard School products and programs. Sixteen point-of-sale positions staffed by knowledgeable professionals will streamline the lesson process. The former Ski & Snowboard School Ticket Office space will become the new home of Steamboat Adaptive Recreational Sports (STARS).

Patrol First Aid Facility & New Shipping/Receiving: A new base first aid facility, in partnership with the Yampa Valley Medical Center, as well as the back-of-the-house resort shipping & receiving operations, will move into One Steamboat Place. Moving from its current home near Ski Time Square, Fetcher Base Patrol will occupy 1,000 sq. ft. of slopeside space along the new south end of the public promenade administering medical aid, transport services as well as SlopeWise safety education & awareness.

Snowmaking: Even with back-to-back 400-inch Champagne Powder™ snow seasons, Steamboat’s state-of-the-art snowmaking system is being expanded with a continued focus on energy efficiency and snow production. New hydrants will be added to Lower Vagabond and Bashor as well as 11 low-energy, high-efficiency HKD SV10 tower guns to the resort’s arsenal. A key element for early season, the HKD tower guns, which use 30 percent less energy than conventional guns while producing the same amount of snow, are now strategically located across the base area, including Stampede, Lil’ Rodeo, Preview, See Me, See Ya, Voo Doo and Vogue. Several primary pumps and motors will be rebuilt and key pedestal, sled and tower features will be added to the tower gun system to improve efficiency. The resort’s system covers nearly 400 acres of top-to-bottom terrain (3,668 vertical feet) and includes a network of over 300 available hydrants, 4 pump houses across the resort, 121 high-efficiency guns and state-of-the-art digital operating system.

Meadows Public Improvements: The resort’s remote free parking facility, the Meadows, will see a new 8-foot walkway along Pine Grove Road as well as realignment and expansion of the walkway along Mt. Werner Circle. This project covers more than ¼ mile and 208 cubic yards of concrete. A new entrance/exit along Pine Grove Road will replace the two current access points and will be complemented by two additional access portals along the new Bangtail Road, the entry to Trailhead Lodge and Wildhorse Gondola.

Miscellaneous: The resort will replace the haul ropes on Sundown Express and Steamboat Gondola. Additionally, the company will focus on key environmental strategies including its comprehensive Zero-Waste initiative; snowmobile eco-conversion program; Energy Star Food & Beverage appliance plan; and pine beetle management campaign.