Vail Resorts has announced an incremental annual $157 million investment in its employees.
The company, which owns and operates 37 ski resorts across North America, said the cash would be used to improve wages, HR services, career development and benefits.
The employee investment is in addition to the $320 million capital investment announced earlier in the season which will result in 21 new lifts across 14 North American resorts.
The $157 million investment includes a new $20 per hour minimum wage across all 37 of Vail Resorts North American properties, plus raises for hourly employees to address compression.
The company said the figure represents an incremental annual investment of $175 million into team members next year.
Effective immediately, the company is also investing $4 million to significantly improve HR operations, including adding 66 more team members to the HR services team.
Vail Resorts chief executive, Kirsten Lynch, commented: “Our employees’ passion is what makes our resorts so special and our guests’ experience memorable.
“In my first 100 days as chief executive, I have had the opportunity to reflect on what is important, and what our company must focus on as we move forward.
“Our top priority must be to support and invest in our employees – their wages, benefits, HR support, housing and career development.”
Vail Resorts also said its corporate office is moving to flexible remote work, which means team members can spend their days working from a location that works best for them in any of the states where we operate—including in the mountains.