Deer Valley Resort Unveils Massive Expansion For 2025-2026 Ski Season, Doubling Terrain, $600 Mil Loan

Deer Valley Resort today announced the most significant expansion in its history, set to debut for the 2025-2026 ski season. This transformative project, part of the "Expanded Excellence" initiative, will more than double the resort's skiable terrain, introduce numerous new lifts and runs, and establish the new Deer Valley East Village as a premier alpine destination.

Extell Development Company, a New York-based, full service national real estate developer, closed a $600 million construction loan for Four Seasons Resort and Residences Deer Valley within Deer Valley East Village. This is the first new luxury alpine village to be developed in North America in more than 40 years. Financed by JVP Management, an investment firm headquartered in New York, the loan is believed to be the largest for a hotel and residential condominium construction project in Utah.

“We are thrilled to be a part of this landmark development,” Anthony Shaskus, the head of credit strategies at JVP Management, said in a statement. “We’ve enjoyed a long history of working with Gary Barnett and the Extell team, and look forward to supporting the firm’s development of Dear Valley East Village.”

With nearly 40 percent of the overall inventory sold, Four Seasons Resort and Residences Deer Valley’s construction began earlier this spring, with completion expected in 2028.

“This loan underscores the tremendous confidence the market has in the Four Seasons brand, who we have partnered with on three separate projects, as well as our commitment to Deer Valley East Village,” said Gary Barnett, founder and chairman of Extell Development Company. “We’re excited to have reached this milestone with our long-term lending partner JVP and look forward to seeing this vision come to life with the grand opening of Deer Valley’s ski expansion this upcoming winter.”

With design led by ODA Architecture, the resort offers one- to six-bedroom homes ranging from 1,200 to 7,000 square feet, all with direct ski-in/ski-out access and five-star amenities and service. The 55 residences atop the hotel, which are already 60 percent sold, are complemented by an adjacent building with 68 private residences ranging from one to five bedrooms, featuring additional exclusive amenities.

For the upcoming 2025-2026 winter season, Deer Valley plans to open approximately 2,900 new acres of skiable terrain, bringing the resort's total to over 4,300 acres. This expansion will be serviced by an additional seven new lifts, including the highly anticipated two-stage East Village Gondola, and will introduce 80 new ski runs. When fully completed, the "Expanded Excellence" project will see Deer Valley boast over 5,700 acres of skiable terrain, 37 chairlifts, and 238 runs, solidifying its position among North America's largest ski resorts while maintaining its cherished ski-only experience.

"The 2025-2026 season marks a new era for Deer Valley as we significantly expand the mountain while preserving our legendary service and ski-only experience," said Todd Bennett, President and COO of Deer Valley Resort. "This winter's terrain expansion—more than doubling our skiable acreage—is a once-in-a-generation transformation, and it deserves our full attention. With these new offerings, we're ensuring that guests have the flexibility to enjoy Deer Valley in a way that best fits their lifestyle."

“With multiple large-scale projects underway, we’re strategically focusing our efforts to ensure success at every step. This winter’s terrain expansion—more than doubling our skiable acreage—is a once-in-a-generation transformation, and it deserves our full attention," added  Todd Bennett.

Key elements of the 2025-2026 expansion include:

• New Lifts and Terrain: The East Village Gondola will be a centerpiece, transporting skiers 2,570 vertical feet from the new East Village base to Park Peak (9,100 feet), with a mid-station at Dutch Peak. Other new lifts coming online include the Pinyon Express (a six-pack bubble chair serving beginner terrain near Park Peak), Neptune Express, Pioche Express, Vulcan Express, Revelator Express, and Galena Express. These additions will open up four previously undeveloped peaks and a mix of beginner, intermediate, and advanced terrain, including wide-open bowls and gladed areas.

• Deer Valley East Village: Developed in partnership with Extell Development Company, the East Village is rapidly taking shape. It will feature a state-of-the-art skier services facility, 1,200 new day-skier parking spaces to improve accessibility and reduce traffic in Park City, and a range of luxury accommodations, retail, and dining options. The Grand Hyatt Deer Valley opened in late 2024, and construction is underway for a new Four Seasons Resort and Residences, slated for completion in 2028, further establishing the East Village as a world-class, year-round destination.

• Advanced Snowmaking: A cornerstone of the project is the deployment of a continent-leading snowmaking system, featuring 1,200 snow guns, 350,000 feet of pipeline, and new pump houses, designed to ensure consistent snow coverage across the expanded terrain.

This expansion builds upon the initial phase opened in the 2024-2025 season, which introduced three new lifts, 19 runs, and 316 acres of terrain, including the Keetley Express high-speed six-pack bubble chair and the 4.85-mile "Green Monster," now Utah's longest ski run.

While the focus for the upcoming season is on the East Village and on-mountain expansion, plans are also in motion for a significant redevelopment of the Snow Park base area, with work on a new parking garage structure beginning this summer.

Deer Valley Resort continues its commitment to limiting daily skier numbers to preserve its renowned guest experience, ensuring that the expansion enhances, rather than diminishes, the luxury and uncrowded skiing that guests have come to expect.