From the article referenced:

"The union said that is not enough given the cost of living in and around the Park City area, known for its wealthy visitors and its hosting of the Sundance Film Festival every winter."

Looks like the Utah RE bubble is starting to come home to roost.

How did Vail Resorts manage to acquire so many properties...humm?

The same cheap money policies which caused the RE bubble.

We are returning to something, and this return has been unfolding for quite a while, some would say as far back as the 70s. Most of the bad monetary policy decisions subsequent to this beginning of the end were nothing more than fighting the inevitable. It was observed in recreational boating decades ago. And, there are cracks forming in the middle-class golfing thing.

Remember that these activities were once the exclusive purview of the wealthy and those few who lived in an area specific to them and their functional lives.

It is much like those who decry how families, themselves if old or their parents, could afford a station wagon and have regular family vacations throughout the year. Losing this is not the anomaly. The fact that they had this at all was the anomaly, along with a lot of other lifestyle assumptions.

What we see here is the sorting out as the natural laws force a return to sanity and normal, and most often the process is not pretty.

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This is about to be a lesson on selling to the market you have instead of worrying about your cost basis. No one and I mean no one cares about what you paid for something except you.