Creating value for multiple stakeholders

Developer Partnerships

We are keenly focused on the remaining land we have at our base areas. Instead of developing these prime parcels of land ourselves, we’re looking for third parties

Developer Partnerships

We are keenly focused on the remaining land we have at our base areas. Instead of developing these prime parcels of land ourselves, we’re looking for third parties who can lend their expertise in development and partner with us throughout the process. This will ensure that our guests and communities are being carefully considered from beginning to end. We’re not just looking for the highest bidder for our sites – rather, we want to help developers through the process of determining the best use of the site as well as local nuances like parking, employee housing, entitlement and planning, all of which can set the tone for the long-term success of the project.

We have a vested interest in ensuring that projects are completed, completed right and enhance the entire destination. We have dedicated senior leaders of our team to work side-by-side with developers to create and manage the best possible project.

No company can be all things to all people, of course – in the case of Vail Resorts, it was this type of self-awareness that helped us recognize the value in shifting gears from developer to partner. Companies like ours focus on the value they bring to the table and how each player can join forces for the collective benefit and greatest impact.

Just as the mountain operators are the experts in mountain management and development, so are real estate developers to hotel, residential, retail or mixeduse development. What can significantly strengthen both parties is the expertise and know-how in navigating the stakeholders that make up the resorts in their entirety – the year-round community, workforce, local government and businesses, and second homeowners.

A third party looking to develop in a seasonal resort destination ought to:

• Consider who to work with at a local government level and the history of development in the area;

• Adjust for the seasonal nature of guest volume and cash flow and develop an understanding of year-over-year calendar shifts;

• Consider the ins and outs of working with the ski resort; • Navigate recruitment, training, development and retention of seasonal staff;

• Consider data and analytics – often dubbed the new “oil” – that can maximize the value of a property, whether through occupancy, sales or the like; and

• Ensure that a property or business is considered and maximized for valuable group business to the area.

Few developers have the resources or local knowledge to go it alone in this territory and should think carefully before doing so. Missteps can lead to years of growing pains and strife with key stakeholders, all of which inevitably will affect the bottom line and the quality of the product. An experienced partner can bring tremendous opportunity and value to third parties and other stakeholders for true long-term benefit.

Contact Michael Rasser

Michael E. Rasser
This email address is being protected from spambots. You need JavaScript enabled to view it.

Cornerstone Equity, LLC
1440 Iola St #B
Aurora, Co. 80010
Phone 303-756-5626
Fax 303-691-5637