The concessions and lodging contract for Yellowstone National Park – currently held by Xanterra Parks & Resorts – is up for bid.
Park Superintendent Dan Wenk says in return for a 20-year contract, the successful bidder will be required to invest about $135 million into the park, the Cody Enterprise reported.
Xanterra’s contract expires at the end of November 2013.
Investment improvements under the new contract will include redevelopment of lodging at Canyon, renovation of the Fishing Bridge RV Park, phase two of the renovation of Lake Hotel and new concession employee housing at Lake and Old Faithful.
Rehabilitation of the Mammoth Haynes Photo Shop, and changes necessary to provide year-round lodging at the Mammoth Hot Springs Hotel, also will be included.
The contract also will require the successful bidder to spend an additional 6 percent of gross revenues on repair and maintenance of assigned facilities, and pay a franchise fee of about 4 percent 7 percent to the park, depending on terms.
Xanterra reported gross receipts of about $90 million for 2011.