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Stowe announces new Adventure Center, ice skating, underground parking

mbedle

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As much as I love Stowe and plan on being there for the month of February, I'm always weary of continue expansion at ski resorts. I've seen it happen down here in PA and NY, that big expansion results in bankruptcy down the road (Montage, Greek Peak, Hidden Valley, etc.). I hope AIG has and will continue to support Stowe if things go south with the larger debt load. Our local hill (Blue Mountain) is doing just this and it scares the crap out of me, thinking they may be over extending themselves.
 

BenedictGomez

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I wouldn't worry about it. Stowe does intelligent long-term planning and actually turns a profit based on the validity of their business model. The ice skating rink is outdoor, sounds like a great idea IMO, and the rest of it seems modest if that article is to be believed.
 

BenedictGomez

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I'm surprised that nobody mentioned this:

images
 

deadheadskier

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Kind of a misleading Article title by WCAX. When I read "expansion" in regards to a ski area, I think more terrain; not amenities.
 

deadheadskier

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oh, I didn't realize it was in my job description to read every thread and all articles linked from those threads. :lol:
 

steamboat1

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I wouldn't worry about it. Stowe does intelligent long-term planning and actually turns a profit based on the validity of their business model. The ice skating rink is outdoor, sounds like a great idea IMO, and the rest of it seems modest if that article is to be believed.

Stowe doesn't do anything modestly. I'm sure the new buildings will be just as beautiful as the rest of the construction they've done at Spruce. The addition of more retail space & a restaurant will give the Spruce base area more of a village feel I think. I like the idea of an outdoor ice skating rink right in the middle of it all. I'm sure it's going to be beautiful when this phase of the project is complete.
 

millerm277

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As much as I love Stowe and plan on being there for the month of February, I'm always weary of continue expansion at ski resorts. I've seen it happen down here in PA and NY, that big expansion results in bankruptcy down the road (Montage, Greek Peak, Hidden Valley, etc.). I hope AIG has and will continue to support Stowe if things go south with the larger debt load. Our local hill (Blue Mountain) is doing just this and it scares the crap out of me, thinking they may be over extending themselves.

I'll disagree there. Montage was doomed by mismanagement, and Greek Peak by a mixture of the economy and mismanagement.

Montage/Sno's prior ownership was simply fiscally irresponsible, and lacking in experience and common sense from beginning to end. The waterpark was the final tip into bankruptcy, but the management would have gotten it there regardless. Spending millions of $ you don't have on SMI fan guns for one example. (The snowmaking needed work....just the drastic overspending at once was absurd).

Greek Peak committed to the lodge/waterpark in a good economy, and by the time it opened the economy was a wreck and no one was buying. Their lender also went under, preventing them from following through with plans for on-mountain improvements that would likely have drawn real estate buyers, especially under the assumptions of the pre-recession economy. That said, I think they overestimated their market. Some mismanagement, some bad luck.

Stowe has none of these issues. They've got a loyal (and lucrative) client-base, solid management that has successfully followed through with various previous plans which were even larger in scope, all indications and reports are that they turn a good profit and need no support. AIG is back to turning massive profits and I am certainly sure they are not planning on letting go of the playground they've owned for >60 years.
 

steamboat1

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All without EB 5 money.

From the article: "Between the new construction and expanded and new programs, the project could add lots of jobs. Already, officials say, Spruce Peak expansion has generated 800 jobs, 200 of which are full-time with benefits."
 
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