UPDATE: Vail Resorts' Relocation Costing Millions

BROOMFIELD, CO-As earlier reported by GlobeSt.com, Vail Resorts plans to move its corporate office from the Western Slope to the 10-story, 390 Interlocken Crescent building in the Interlocken Business Park between Boulder and Denver. While the 46,000-sf lease ultimately is expected to save the ski resort giant money, it revealed in a Securities and Exchange Commission document released on Friday afternoon that it also anticipates some upfront costs.

“The company currently expects that the total charges associated with the relocation that will result in future cash expenditures will be approximately $3.6 million to $4.5 million,” Vail Resort execs say in an 8-K filing with the SEC.

The costs include severance and retention debts of $900,000 to $1.5 million and charges for relocation and contract terminations of $2.1 million to $3.6 million. The balance may also “include reimbursement of reasonable expenses associated with the sale and purchase,” of some executives and employees homes, reimbursement for moving and storage services of household goods, a lump-sum relocation allowance for miscellaneous expenses and “an amount to address the employees’ tax liability associated with the plan components,” the report states.