Live Phish Vol. 2 was recorded live on July 16, 1994 and was released on September 18, 2001 as part of the Live Phish Series. The show was performed on the side of a ski slope at the Sugarbush Resort in the town of North Fayston, located in Phish's home state of Vermont. It was the final concert of the band's highly successful 1994 summer tour. Earlier in the year, the band had released its highest selling album to date - Hoist - and the size of the Phish audience had expanded greatly by the summer. The Sugarbush concert, which included overnight camping on the ski slope under the stars, was slated as the grand finale of the tour.