Lake Tahoe in the midst of a spending avalanche [Google+ Hangout]

The nation’s ski industry suffered one of the worst snowfalls in decades last season and the second-steepest year-over-year decline in skier and snowboard visits on record.

But that hasn’t stopped the resort owners around Lake Tahoe from investing mountains of money--more than $100 million--to expand the terrain and make capital improvements. The spending began two years ago and will continue for several more years.

Join us for a live video chat at 3 p.m. on the improvements underway at the Lake Tahoe resorts. Business reporter Hugo Martin will be talking about his story with John Wagnon, senior director of brand marketing at Heavenly ski resort, and Julie Maurer, vice president of sales and marketing at Squaw Valley.

The upgrades include new lifts, two new ski lodges, fire pits, terrain parks and upgrades to several retail areas and restaurants.

The money for the improvements comes primarily from Vail Resorts and KSL Capital Partners, the two Colorado-based companies that, combined, own or operate five of the biggest resorts around the lake.

The biggest outlays are taking place at Squaw Valley, host of the 1960 winter Olympics, and neighboring Alpine Meadows, both owned by KSL.

Follow Hugo Martin on Twitter at @hugomartin