ECONOMIC EVALUATION OF THE ALPENSIA RESORT

ECS conducted an evaluation of the development potentials for a large multi-use resort project in Gangwon-do, Korea.  Alpensia has 6 slopes for skiing and snowboarding, with runs up to 1.4 km (0.87 mi) long, for beginners and advanced skiers, and an area reserved for snowboarders.  The resort is open year-round.
 


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​The economic analysis covered the following areas of study:
 
            Market Analysis.
            Site Evaluation.
            Resort Concept Development.
            Regional and International Comparable Facility Analysis.
            Ski Hill, Golf Course, Hotel and Village Analysis.
            Operating Revenue from Both Admissions and Facility Rental.
            Operating Expenses.
            Operating Profit.
            Development Cost Estimate.
            Warranted Investment Analysis.
 
The decision to build Alpensia resort was taken in 2003, based on the ambition of the Gangwon province government to host the 2018 Winter Olympics.  The resort was built on vacated farmlands and potato fields; it was completed in 2011 and will host Ski Jumping and Nordic events at the 2018 Winter Games.