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Perisher Ski Resort Investing $4.2 Million in New Chairlift and Snowmaking

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Perisher Ski Resort Investing $4.2 Million in New Chairlift and Snowmaking PERISHER SKI RESORT INVESTING $4.2 MILLION IN NEW CHAIRLIFT AND SNOWMAKING The new quad chairlift will increase lift capacity by 75% in one of Perisher’s most popular areas, for the 2019 season. Additional snow-making brings investment to over $25 million in recent years and bolsters already preeminent early season experience. Vail Resorts is also investing CAD$66 million at Whistler Blackcomb for new lift infrastructure and on the heels of US$50 million in improvements in 2015, Park City Mountain will also see a significant investment into on- mountain dining and family experiences. The Epic Australia Pass, extending year-round access at a price un-matched, is on sale now at www.epicaustraliapass.com.au for the 2018 Perisher season and 2018-2019 North American season. PERISHER, New South Wales – Dec.8, 2017 - Perisher, Australia’s favourite ski resort, today announced it will be replacing Leichhardt T- Bar with a new quad chairlift to be ready for the 2019 winter. The investment includes a significant snowmaking project bringing the total cost to $4.2 million with the work planned for the 2018/2019 summer. “News of the new quad chairlift is very exciting as it services a favourite area for many of Perisher’s loyal guests,” said Peter Brulisauer, chief operating officer of Perisher. “The new lift will access fantastic beginner, intermediate and advanced runs as well as the famous Leichhardt Terrain Park providing something for every level of skier and snowboarder.” By replacing Leichhardt T-bar and Home Rope Tow the new quad chairlift will increase lifting capacity in the area by a huge 75%, giving guests more time to ski and board popular runs including The Cleft, Powder Ridge, Snowy Trails and the Leichhardt Terrain Park. “Replacing the Leichhardt T-Bar with a quad chairlift is a huge improvement. The area provides some of the best tree skiing in the resort and will be a favourite during the winter storms giving access to great powder skiing amongst the shelter of the tree lined terrain on Powder Ridge,” said Andrew Kennedy, mountain manager of Perisher. The replacement of the steep, advanced only Leichhardt T-bar with a chairlift will allow it to be used by children and beginners providing another option to the nearby Happy Valley T-bar. The new chairlift will have the same conveyor load system as the Freedom Quad Chairlift in Guthega, making the loading process easy for all guests. Beginner skiers and boarders will be impressed when enjoying Snowy Trails, one of Perisher’s most popular beginner runs with snowmaking installed from the base of Happy Valley T-Bar right through to the load of the new quad chairlift. Peter Brulisauer added: “The new snowmaking linking Happy Valley to the base of the new chairlift will provide Perisher skiers with another lift and run to enjoy under snowmaking only conditions and will ensure we can open terrain in this part of the resort earlier providing great conditions across the entire winter for our guests.” This major investment to improve the guest experience at Perisher follows the installation of the Freedom Quad Chairlift in the Guthega area of the resort in 2014 and over $25 million in snowmaking improvements. Vail Resorts will also invest US$52 million (CAD$66 million) at Whistler Blackcomb, the largest ski resort in North America, including the world’s first three-gondola inter-connect. The largest single investment in the resort’s history For more information, visit http://www.perisher.com.au/perisher-news/media-room/latest-press-releases Melisha Liegl, Communications Manager 02 6459 4537, [email protected] Rich Phillips, Sales & Marketing Manager, 02 6459 4528, [email protected] will include a new 10-passenger gondola, new six-passenger high-speed lift and new four-passenger high-speed lift. The investment will also include an expansion of the resort’s world-renowned mountain bike park with the addition of 13 miles of new biking trails. On the heels of US$50 million in lift infrastructure and on-mountain dining improvements in 2015, Park City Mountain in Utah, the largest ski resort in the United States, will further its focus on premier family experiences, mountain dining excellence and guest service through a new learning area for beginners, children and families; a transformative renovation to the iconic Mid-Mountain Lodge; and an expansion of the popular, mountaintop bistro Cloud Dine with an additional 200 seats. 2018 Epic Australia Pass – The best value season pass at a price unmatched! The Epic Australia Pass is the best value season pass for Australians! With your Epic Australia Pass you will enjoy: Unlimited, unrestricted access to Perisher for the 2018 season. Unlimited access to Breckenridge, Keystone and Arapahoe Basin in Colorado; Park City in Utah; Heavenly, Northstar and Kirkwood in the Lake Tahoe region of California; from November 2018 - April 2019 (holiday restrictions apply). 10 days combined between Whistler Blackcomb, Vail, Beaver Creek and/or Stowe during the 2018/2019 season, from November 2018 - April 2019 (holiday restrictions apply). The days do not have to be used consecutively. Guests can lock in the Epic Australia Pass for only $819 for Adults, $462 for students (up to year 12) and $588 for seniors (65 years and over). The Epic Australia Pass pays for itself in under 5 days*. Now's the time to lock in your 2018 Epic Australia Pass with only $49 upfront and the balance on 1 May 2018. For more information head to http://www.epicaustraliapass.com.au About Perisher Ski Resort Perisher is Australia’s largest and favourite ski resort, consisting of four distinct mountain areas: Perisher Valley, Blue Cow, Smiggin Holes, and Guthega. With the he base of the resort at 1,720m and the peak 2,054m, Perisher is renowned for its snow consistency. Boasting an incredible 47 lifts and 1,245 hectares of diverse terrain to explore, Perisher caters to all levels of skiers, snowboarders and those just wanting to try something new and exciting. For the snow enthusiasts, there are over 100 groomed runs offering more groomed terrain than any other resort in the southern hemisphere and plenty of off-piste powder stashes to discover. For first-timers of all ages, Perisher’s Snowsports School instructors provide expert tuition. There are a host of other great on-snow activities to find at Perisher including: night skiing, fireworks evenings, seven terrain parks, tube town, over 100km of marked cross- country trails, magnificent mountain views, cafes, bars, retail stores, fine dining and a great nightlife. About Vail Resorts, Inc. (NYSE: MTN) Vail Resorts, Inc., through its subsidiaries, is the leading global mountain resort operator. Vail Resorts’ subsidiaries operate 11 world-class mountain resorts and three urban ski areas, including Vail, Beaver Creek, Breckenridge and Keystone in Colorado; Park City in Utah; Heavenly, Northstar and Kirkwood in the Lake Tahoe area of California and Nevada; Whistler Blackcomb in British Columbia, Canada; Perisher in Australia; Stowe in Vermont; Wilmot Mountain in Wisconsin; Afton Alps in Minnesota and Mt. Brighton in Michigan. Vail Resorts owns and/or manages a collection of casually elegant hotels under the RockResorts brand, as well as the Grand Teton Lodge Company in Jackson Hole, Wyo. Vail Resorts Development Company is the real estate planning and development subsidiary of Vail Resorts, Inc. Vail Resorts is a publicly held company traded on the New York Stock Exchange (NYSE: MTN). The Vail Resorts company website is www.vailresorts.com and consumer website is www.snow.com.is END. For more information, visit http://www.perisher.com.au/perisher-news/media-room/latest-press-releases Melisha Liegl, Communications Manager 02 6459 4537, [email protected] Rich Phillips, Sales & Marketing Manager, 02 6459 4528, [email protected] .
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