Vail Resorts maintains employee housing, totaling about 3,000 beds, in seven different properties located in Vail, Beaver Creek, Keystone and Breckenridge. Corum will be in charge of all leasing and maintenance for Vail's short- and long-term employee housing.
"We're bringing in an expert to manage our employee housing so we can concentrate on our area of expertise, which is running a ski resort," says Jack Lewis, Director of Employee Housing Development of Vail Resorts. "From an efficiency standpoint, it makes sense for a company such as Corum--with its particular strength and experience in mountain resort employee housing--to take over this time-consuming and resource intensive operation. This change in the management operations does not contemplate any change in the ownership structure of these properties."
Jamie Fitzpatrick, EVP of Corum Real Estate Group, notes his firm built some of the employee housing it will now be managing. "One of our primary objectives--and a major reason for bringing us on--will be to improve occupancy during the off season," Fitzpatrick says.
Corum's contract becomes effective April 2. In the meantime, Corum is taking inventory of the properties and meeting with Vail Resorts employee housing employees to evaluate their positions. The majority of resort employee housing employees will become Corum employees once the transition occurs.
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