Longtime owners of Vail and Beaver Creek, the firm's Colorado mix also includes Keystone, Breckenridge and Arapahoe Basin. To the industry's surprise, Vail inked a deal last spring to run Canyons near Park City, its first foray into Utah. Add to that its Lake Tahoe, Calif., holdings of Heavenly, Northstar and Kirkwood, and things were getting pretty big.