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KPCW News Staff
Tue July 30, 2013
Talisker Relinquishes Control of Canyons Development
Originally aired on June 27, 2013.
There's been a major shake-up at Canyons Resort. Summit County Manager Bob Jasper told council members on Wednesday that an interim management firm has taken over the development rights of some 4-million square feet at Canyons Resort. A firm called Alvarez and Marsal has been brought in to assume control of the Canyons development. On May 29th, Vail Resorts announced it had signed a 50-year lease with Talisker - paying $25 million dollars a year to operate Canyons Resort. Under that agreement, Talisker would retain all of the development rights remaining at the resort. Jasper told council members his concern is to make sure the county fulfills Canyons 14-year old Specially Planned Area agreement, in which the county lays down certain requirements for the development rights given to the resort, under the new management company.