Following its recent sale, the Jackson Hole, Wyo., resort will see updates to its hotel, which was built in 1976, and new additions such as a bike park, ice climbing, terrain parks and a zip line, with the help of the newly created recreational manager position.
After its sale finalizes within a week, Snow King Resort in Jackson Hole, Wyo., will undergo a $20 million renovation, the Wyoming Business Report reported.
Though details of the sale and its terms have not been disclosed, attempts to restructure or sell the resort have been ongoing. The ski-hill portion of the business has been losing about $500,000 annually. The resort threatened to shut down Wyoming’s first ski area, but buckled to public pressure to stay open by cutting back operating hours, the Wyoming Business Report reported.
The new management team plans to invest more than $20 million in renovations to get top-dollar value for its rooms, which need plenty of updates despite its solid structure. The hotel was built in 1976.
Last year, the resort had an agreement nearly in place with a local nonprofit, Friends of Snow King, that would take over the ski-hill portion of the resort while leaving the hotel in the hands of the former owners. After failed negotiations with the nonprofit, the resort shifted hotel assets while retaining the ski area, the Wyoming Business Report reported.
Snow King Holdings, the organization that encompasses 11 groups that have until now run the resort, plans to add a bike park, ice climbing, terrain parks and a zip line to make the mountain profitable with the help of a recreational manager.
The resort will also keep its development rights, which allow up to 450,000 sq. ft. of new building developments, the Wyoming Business Report reported.
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