BROOMFIELD, Colo. — Vail Resorts says it will invest $52 million in improvements at Canada’s Whistler Blackcomb resort.

The Vail Daily reports the company will build a 10-passenger gondola and new lifts at the ski resort, North America’s biggest and busiest.

Vail Resorts’ Thursday announcement came as it reported a $28.4 million net loss for its first quarter. That compares to a $62.2 million loss for the same quarter last year.

Vail commonly posts a loss for the quarter because its resorts aren’t operating for most of the period. Its fiscal year runs Aug. 1 to July 31.

Vail has 13 ski areas, all of them destination resorts courting overnight guests.