Vail Resorts Development Company Receives Quality Assurance Award

06 October 2010

VAIL, Colo. -- Oct. 6, 2010 -- Vail Resorts Development Company received a first of its kind Quality Assurance Observation Certification, presented by OAC Management Incorporated and Old Republic Construction Programming Group, Inc.

The Quality Assurance Observation (QAO) program has been applied to Vail Resorts Development Company’s most recently completed project, The Ritz-Carlton® Residences, Vail.

Recognizing the importance of assuring buyers and potential buyers of the highest level of development and construction, Vail Resorts Development Company has taken a proactive approach in adopting the Quality Assurance Observation Program Requirements that were written by OAC Management Incorporated and endorsed by Old Republic Construction Programming Group – the insurance underwriter for the project.

“We’re honored to be recognized for what we consider to be one of our core strengths at Vail Resorts Development Company: the high caliber of our construction and development,” said Alex Iskenderian, chief operating officer and senior vice president for Vail Resorts Development Company. “We are tremendously proud of our team for the level of commitment, focus and dedication it required to deliver this truly stunning property at Vail’s most exclusive address.”

Richard Livermore, executive vice president for Old Republic said, "Eleven projects and five years later this is the first quality program that we have ever endorsed and been a part of designating a project “QAO Certified” (Quality Assurance Observation Certified)   -  which points to how rigorous the standards are. The designation granted to Vail Resorts Development Company is a milestone for Old Republic Construction Program Group. We fully endorse and believe this will revolutionize the approach that is typically taken in a construction project. In the years to come we believe you'll see the QAO Certification gain the same type of respect as a LEED Certification.”

“Vail Resorts Development Company made the Quality Assurance Process a priority and gave OAC Management the authority to execute the QAO Program Requirements, which is one of the reasons why we’ve seen the level of quality that is now in place,” said Erik W. Peterson, President, OAC Management Incorporated.

For more information about The Residences, visit www.TheResidencesVail.com. For more information about the Quality Assurance (“QAO Certified”) program used on this project, visit www.oacminc.com.

About The Ritz-Carlton Residences, Vail
Rising from the banks of Gore Creek, The Ritz-Carlton Residences®, Vail  provide the perfect retreat for mountain living and resort indulgence.. Seventy-one luxurious whole-ownership residences, ranging in size from spacious two-bedroom homes to a sumptuous six-bedroom penthouse, offer an environment that is warm, welcoming and very comfortable. The Residences will offer an array of luxury services and amenities in the grand tradition of The Ritz-Carlton throughout the world, including concierge services, a fitness center, outdoor pool and hot tubs, ski valet, great room, library and more.

The Ritz-Carlton Residences, Vail are not owned, developed or sold by The Ritz-Carlton Hotel Company, LLC. RCR Vail, LLC uses TheRitz-Carlton marks under license from The Ritz-Carlton Hotel Company, LLC. The Ritz-Carlton Residences, Vail are being developed and sold by RCR Vail, LLC an affiliate of Vail Resorts Development Company.

Obtain the Property Report required by Federal law and read it before signing anything. No Federal agency has judged the merits or value, if any, of this property.  The information presented herein is proposed and should not be relied upon as a basis for purchasing since all elements are subject to change, refinement or elimination by the developer without notice. The Arrabelle Club social membership is subject to applicable terms and conditions. Verify before purchasing. Designated trademarks are the property of Vail Trademarks, Inc. © 2010 Vail Resorts Development Company. This is not intended to be an offer to sell nor a solicitation of offers to buy real estate in The Ritz-Carlton Residences, Vail by residents of CA, CT, HI, ID, IL, NY, NJ, OK, and OR, unless registered or exemptions are available, or in any other jurisdiction where prohibited by law.

About The Arrabelle Club
A signature club of Vail Resorts, The Arrabelle Club membership amenities include private locker/club room at the base of Vail Mountain,
access to the RockResorts Spa and fitness facilities within The Arrabelle at Vail Square, and social/ski activities to enhance the Vail experience. In addition, The Arrabelle Club offers its members hassle-free access to Vail Mountain with personalized ski valet services. An exclusive offering of memberships to The Arrabelle Club is now available.

About Vail Resorts
Vail Resorts, Inc., through its subsidiaries, is the leading mountain resort operator in the United States. The Company's subsidiaries operate the mountain resort properties of Vail, Beaver Creek, Breckenridge and Keystone mountain resorts in Colorado, the Heavenly Ski Resort in the Lake Tahoe area of California and Nevada, and the Grand Teton Lodge Company in Jackson Hole, Wyo. The Company's subsidiary, RockResorts, a luxury resort hotel company, manages casually elegant properties across the United States and the Caribbean. Vail Resorts Development Company is the real estate planning, development and construction subsidiary of Vail Resorts, Inc. Vail Resorts is a publicly held company traded on the New York Stock Exchange (NYSE: MTN).  The Vail Resorts company website is www.vailresorts.com and consumer website is www.snow.com.

About OAC Management
OAC Management Incorporated is a full service Professional Owner’s Representation company that provides a comprehensive approach to Risk Management. The company provides a range of professional services including Development, Construction and Project Finance Management to Quality Assurance Observation and Certification.  OAC serves lending institutions, insurance companies, private owners, development companies and municipalities with a complete palette of professional project management services. OAC Management’s company website is www.oacminc.com.

Contact: 
Erik W. Peterson, President
OAC Management Incorporated
 (970) 390-0164
www.oacminc.com
erikpeterson@oacminc.com

 

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