Wednesday I attended a presentation hosted at the Strings Pavilion by the developers of the Alpine Mountain Ranch & Club here in Steamboat. They shared information pulled together by statistical experts from over thirty years of actual property sales history in mountain resort towns. In this blog I’ll share with you the notes I took.

Part 1: How is Steamboat Viewed in the Ski Industry?

Andy Daly made the Opening Remarks. He’s a Former President and CEO of Vail Resorts, and currently a co-developer of Alpine Mountain Ranch & Club. He addressed how Steamboat is viewed, why he personally chose to develop in Steamboat, and why he’s feeling bullish. He spoke about the four A’s that Steamboat has.

The four A’s:

1. Assets

In addition to Steamboat being a world class ski resort, Steamboat has an incredible sense of community with people really committed to it. The services are excellent and the altitude of 6700 feet is a much more comfortable altitude to live at than Vail at 8120 feet or Copper Mountain at 9700 feet.

2. Amenities

The western heritage of Steamboat is evident and thoroughly enjoyed via the genuine rodeo that goes on downtown every weekend through the summer. Unlike other resorts that are strictly resorts, Steamboat has a diverse community due to its agricultural and mining industries. Facilities with programs that promote cultural and intellectual stimulation. Great community activities like the Winter Carnival.

3. Academics

Steamboat has a stable work force to supply services. The Winter Sports Club is very family oriented and along with its location at the city-owned park Howelsen Hill provides opportunities for people of all ages.  

4. Access

There’s direct air service to and from numerous cities to Steamboat, and the International airport in Denver is just 3.5 hours’ drive away, with daily shuttle services available.

Andrew Daly wrapped up his opening comments by stating that the ski area’s owners Intrawest and Fortress just put together a four-year debt deal and had a great year despite a shortage of snow in early season. He went on to say that the average Steamboat sale is at $270 per square foot whereas Vail’s is $412 a square foot, and that Steamboat had 312 transactions in the first quarter which is relatively high compared to otherski resort areas.

Stay tuned for Part 2 when I share with you the researcher’s findings.