Ski resorts across the U.S. are seeing massive mixed-use development projects, signaling unprecedented investment opportunities in resort real estate. From Killington in Vermont to Palisades Tahoe in California, owners and developers are expanding ski villages, integrating year-round attractions, and addressing the ongoing housing crisis for resort workers.

As demand for skiing and snowboarding continues to surge, developers and investors are seizing the opportunity to build residential, commercial, and hospitality-driven projects that redefine the ski resort experience—and create new revenue streams beyond the winter season.

Killington Ski Resort: A $3B Vision for the Future

One of the most ambitious projects is unfolding at Killington Ski Resort, New England’s largest ski area. In September 2024, a group including Great Gulf, a major Canadian developer, acquired the resort and announced plans for a $3 billion transformation.

✅ 2,300 Residential Units (including ski-in/ski-out condos)

✅ New Base Lodge & Retail Village

✅ 110,000 SF of Retail & Dining

✅ Projected 3,800 Construction Jobs Over 25 Years

This type of high-density development is part of a broader trend reshaping ski towns nationwide, as investors look beyond ski season and toward four-season revenue models.

“People have been waiting for this for a long time,” said Michael Sneyd, Great Gulf’s President of Resort Residential.

Why Ski Resorts Are Becoming Hotspots for Real Estate Investment

1️⃣ Rising Demand for Resort Living

More than 60 million skiers & snowboarders hit the slopes in 2023-2024, marking one of the busiest seasons ever. High-net-worth buyers are increasingly looking for luxury second homes, ski-in/ski-out condos, and fractional ownership models in ski destinations.

2️⃣ Corporate Consolidation = Major Expansion

Investors are pouring billions into resort improvements, residential developments, and mixed-use ski villages.

• Alterra Mountain Co. now owns 19 resorts and is leading major redevelopment projects in Steamboat Springs and Palisades Tahoe.

• Vail Resorts is integrating workforce housing into new ski village projects to help retain employees.

3️⃣ The Shift Toward Year-Round Revenue

Ski resorts are no longer just about winter sports.

• Whistler Blackcomb now sees more summer visitors than winter visitors, thanks to mountain biking, golf, and event programming.

• Resorts like Vail, Snowmass, and Park City are investing heavily in weddings, conferences, and summer attractions.

“The best-run resorts are shifting from seasonal reliance to year-round profitability. Developers who understand this shift will find massive opportunities in resort real estate,” says Daniel Kaufman, a real estate investor and developer.

The Biggest Challenges in Ski Resort Development

🏔️ Land Use Restrictions – Many ski resorts operate on U.S. Forest Service land, requiring private land acquisition to build new villages.

🏗️ Complex Permitting & Environmental Pushback – Developers face long permitting timelines and opposition from conservation groups.

• Palisades Tahoe’s 94-acre development is facing lawsuits from environmental groups that claim it will worsen wildfire risk and impact Lake Tahoe’s clarity.

🏠 Workforce Housing Shortages – Resort towns struggle to provide affordable housing for employees, leading to labor shortages and even resort shutdowns.

• Park City ski patrol went on strike in December 2024 due to wages not keeping up with housing costs.

• Vail Resorts & East West Partners are integrating affordable workforce housing into new ski village developments.

“Ski resort towns must solve the housing issue. Without workforce housing, luxury home sales and commercial investments are meaningless—there’s no staff to run the resorts,” Kaufman notes.

Key Takeaways for Developers & Investors

🔹 Mixed-use ski villages are the future – Retail, dining, and hospitality developments are becoming essential to ski resort success.

🔹 Year-round revenue is driving investment – Resorts are maximizing profitability beyond ski season.

🔹 Workforce housing is a must – New developments must integrate housing solutions to sustain long-term growth.

For real estate professionals looking to invest in resort development, ski-in/ski-out properties, or commercial projects in ski towns, now is the time to capitalize on this growing sector.

Connect with Daniel Kaufman

📩 Email: Contact Here

🌎 Website: www.DanielKaufman.info

📍 Markets: Resort & mixed-use real estate, multifamily, development strategies