Vail Resorts' RockResorts and JMA Ventures Announce Management Agreement for Constellation Residences at Northstar

Following the strategy to grow its lodging portfolio with owned and managed properties located at the base of its mountain resorts, Vail Resorts, Inc.

subsidiary RockResorts and developer JMA Ventures, LLC have signed a management agreement for Constellation Residences at Northstar, a spectacular collection of ski-in/ski-out boutique residences located mid-mountain at Northstar California Resort adjacent to The Ritz-Carlton, Lake Tahoe resort, to be managed by RockResorts. Constellation will complement the RockResorts portfolio of Colorado and Jamaica resorts with its offering of vacation rental and full-ownership opportunities. In tandem with this agreement, JMA Ventures also announces plans for the final phase of development at Constellation, which includes building and selling 50 new mid-mountain residences over the next three years. This expansion into Northstar's luxury lodging market demonstrates RockResorts' commitment to expanding lodging offerings at the base of mountain resorts and Vail Resorts' commitment to delivering the experience of a lifetime for guests, complete with the ultimate Lake Tahoe vacation destination – unparalleled skiing and snowboarding, year-round activities, shopping, dining, entertainment, and now, high-end, luxury accommodations. Beginning this winter season, the property name will officially change to Constellation Residences at Northstar, A