Ski Championships Are Like A Long Prime Time Commercial For Colorado In Europe

VAIL, Colo. (CBS4) - The final preparations for the World Alpine Ski Championships are underway as the opening ceremonies kicked off in Vail Monday evening. The sporting event is expected to have a huge economic impact on Colorado.

The best thing about having a major event that's so popular in Europe is that the races will be happening live in prime time. That's basically one big, long commercial for Colorado going out to millions every night.

"It's like having the Olympics. It's all the alpine events from the Olympics here in Colorado in our backyard," Chris Romer with the Vail Valley Partnership said.

Everywhere around Vail and Beaver Creek there are the numbers "2015." It's the third time the event has been held there, but this year organizers have taken it to a whole new level.

"It's typically an off-peak period, especially mid-week into early February, so having that vibrancy and that activity through town is fantastic," Romer said.

RELATED STORIES: 2015 Alpine World Ski Championships

Businesses are excited as well. The owner of the Sonnenalp Hotel, Johannes Faessler, said he doesn't have many rooms left.

"We are sold out. We have a few rooms here and there, but the reason we are sold out is because we have one of the teams actually staying here," Faessler said.

"Folks are spending money in the restaurants; they're going to enjoy the après race activities and beer gardens," Romer said. "It's going to be a win for the entire community."

The event will cost $60 million to put on, but the investment in the Vail Valley is going beyond that.

"The economic impact, just in the two weeks of the event, is estimated to be at over $120 million. That's with all the guest spending," Romer said.

With the international TV exposure the ripple effect is expected to take years.

"It's good for business now but it's not so crazy that people should not come and stay and participate in this," Faessler said. "But the real benefit is in the years to come, and we will definitely see the benefit."

"It gives us the opportunity to present this destination to the world with all the television coverage and things as a world class ski resort destination," Romer said.

While the appeal to a European traveler is something the businesses want to see in the future, they also want to see locals over the next two weeks.

The races are free to attend, so are concerts which will take place after the medal ceremonies each night.