Xanterra signs 20-year deal at Yellowstone

Share
If you visit Yellowstone, you come for scenes like this, but your lodging probably will be managed by Xanaterra.

If you visit Yellowstone, you come for scenes like this, but your lodging probably will be managed by Xanterra.

Highlights: 

  • Xanterra Parks & Resorts will continue its operations at Yellowstone for at least the next 20 years.
  • The Denver-area company plans a total of more than $234 million in investments at Yellowstone.
  • The company has a 34-year history at Yellowstone.

Xanterra Parks & Resorts announced today it has been awarded the contract to operate hotels, restaurants, gift stores and activities in Yellowstone National Park for the next 20 years.

This is the largest concessions operation in a national park in the U.S., according to the company that is based in Greenwood Village and is owned by the Anschutz Co., the Denver company controlled by Denver businessman Phillip Anschutz. Xanterra’s is responsible for more than 830 buildings, nine hotels with more than 2,000 rooms, more than 30 food service facilities, tours and activities at Yellowstone.

As part of the deal, Xanterra has committed to invest more than $234 million in Yellowstone.

“We are very pleased that the National Park Service has chosen to continue our relationship in Yellowstone, and we are looking forward to implementing numerous initiatives that will enhance the visitor experience,” said Andrew N. Todd, president and CEO of Xanterra. “We have managed concessions in Yellowstone for 34 years, and our business relationship with the park has always been coupled with a deep, very personal commitment to preserving the park for future generations.”

While the contract will go into effect Dec. 1, 2013, the transition will be seamless because of the company’s long history in the park, he said.

Xanterra’s predecessor, TWA Services, began operating in Yellowstone in the fall of 1979 and Xanterra – then called Amfac Parks & Resorts – acquired the company in 1995.

“Our commitment to provide ‘legendary hospitality with a softer footprint’ is already reflected in many ways, such as a retail store devoted to promoting awareness of climate change and educating our customers about the environmental attributes of the products they purchase,” Todd said. “When the next generation looks back at Xanterra’s activities in the park over the next 20 years, I am certain they will conclude that we have made the park better in many ways. We are anxious to get started on the many improvements we are planning.”

As part of the contract, Xanterra has committed an estimated $134.5 million investment in improvements to facilities with approximately half of that money to be invested in redevelopment of lodging in the park’s Canyon Village.

Additional projects include completion of Phase II of the renovation of the Lake Yellowstone Hotel, construction of new concession employee housing at Lake and Old Faithful Villages, rehabilitation of the Mammoth Haynes Photo Shop, renovations at the Mammoth Hot Springs Hotel and renovation of the Fishing Bridge RV Park. These projects are scheduled to begin in 2014.

Beyond that, Xanterra will invest an additional amount of more than $100 million toward other park improvements.

For example, Xanterra will renovate its food service facilities at Canyon Lodge, Lake Lodge and Old Faithful Lodge in order to improve traffic flow and accommodate new food offerings. Through its historic preservation program, Xanterra will maintain and renovate the nine lodges it operates in addition to dining and retail structures and other facilities. Additionally, the company will purchase and operate new vehicles for operational use and for visitor services such as tours and fishing charters. Xanterra will also earmark funds for continual upgrades to its information technology capabilities.

Xanterra has plans to greatly expand upon its offerings of local, sustainable cuisine and continue its healthy foods initiative to benefit not only visitors but farmers, ranchers and other food suppliers in the region. Following up on its highly successful and often-emulated Lodging & Learning programs in collaboration with the Yellowstone Association, as well as its wide-range of guided tours, Xanterra will continue to develop interpretive programs to help visitors gain a deeper understanding and appreciation of the park. The company also will continue to ensure that its historic vehicles such as Historic Yellow Buses and Bombardier Snowcoaches continue to operate.

“We are taking to heart the National Park Service’s Call to Action to reach new audiences and to make our offerings appeal to more people, especially young people who can most benefit from developing an appreciation for nature and the great outdoors,” Todd said. “We believe – now more than ever – our parks are more relevant and needed, and we look forward to doing our part in providing services and experiences that will create unforgettable memories for these visitors.”

Have a story idea or real estate tip? Contact John Rebchook at  JRCHOOK@gmail.com. InsideRealEstateNews.com is sponsored by Universal Lending, Land Title Guarantee and 8z Real Estate. To read more articles by John Rebchook, subscribe to the Colorado Real Estate Journal.

 

Share Button

John Rebchook

John Rebchook has more than 30 years of experience in writing and communications. As the Real Estate Editor for the Rocky Mountain News, he wrote about residential and commercial real estate for 26 years. He has won numerous awards for business stories and columns that he wrote, both as an individual and part of teams. In addition to real estate, he also covered economic development, banking and financing, the airlines, and cable TV for the Rocky. In addition, he was one of the original freelance writers for GlobeSt.com, covering commercial real estate for the Internet publication.

More Posts - Website

Thank you to our sponsor

Our sponsor has made it possible to bring you this real estate resource for free. Please drop them a note and say thank you, and keep them in mind for your real estate needs.

Copy Protected by Tech Tips's CopyProtect Wordpress Blogs.