Answer: Millions and Millions

Question: How much money does it take to upgrade a ski resort?

The Industry Report says that Boyne Resorts will spend $14.5 million in upgrades at Sunday River and Sugarloaf USA will get $5 million in new snowmaking equipment. The company has already put a couple million dollars (at least) into Loon Mountain. The Michigan-based company purchased the right to operate (and in some cases, own) each of the New England properties last year.

Why do lift tickets cost so much? It takes a lot of money to run a ski operation.