Attitash (Peak Resorts LTD.) vs. Grand Summit Owners association

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  1. #1

    Thumbs down Attitash (Peak Resorts LTD.) vs. Grand Summit Owners association

    What a cat fight this is turning into.

    Peak Resorts LTD has been screwing over the Condo owners for years,
    1) Taking the lion share of rental income, now 60/40 “split”
    2) Mismanaging the Hotel with a revolving door of GM’s, Three in 3 years
    3) Shoddy maintenance.. epitomized by not winterizing of the water tower creating severe flood damage
    4) Scare tactic emails threatening to close the Restaurant, Pool, Gym and other key features of the Attitash Grand Summit Hotel
    5) Diminishing perks for owners like drastic reduction in lift ticket vouchers etc..
    6) Covertly attempting to purchase 16 low priced units while not providing transparency on Hotel financials



    The acrimonious relationship has spilled over and has been on display during the last several BOD and Owners meetings.

    Peaks Resorts LTD is taking a risky gamble and alienating a large swath of their Attitash/WC Season Pass customer base, many of whom also drop huge $$$ on food and beverage over the course of the ski season. It is surprising this public company is taking this position against their “customers” and “business partners”. Lets see what the outcome is, stay tuned...

  2. #2
    Smellytele's Avatar
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    Quote Originally Posted by Gforce View Post
    What a cat fight this is turning into.

    Peak Resorts LTD has been screwing over the Condo owners for years,
    1) Taking the lion share of rental income, now 60/40 “split”
    2) Mismanaging the Hotel with a revolving door of GM’s, Three in 3 years
    3) Shoddy maintenance.. epitomized by not winterizing of the water tower creating severe flood damage
    4) Scare tactic emails threatening to close the Restaurant, Pool, Gym and other key features of the Attitash Grand Summit Hotel
    5) Diminishing perks for owners like drastic reduction in lift ticket vouchers etc..
    6) Covertly attempting to purchase 16 low priced units while not providing transparency on Hotel financials

    The acrimonious relationship has spilled over and has been on display during the last several BOD and Owners meetings.

    Peaks Resorts LTD is taking a risky gamble and alienating a large swath of their Attitash/WC Season Pass customer base, many of whom also drop huge $$$ on food and beverage over the course of the ski season. It is surprising this public company is taking this position against their “customers” and “business partners”. Lets see what the outcome is, stay tuned...
    Does this affect the stuff (condos. restaurant, and club house/pool) across the street at all or is that not owned by Peaks?
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  3. #3

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    Quote Originally Posted by Smellytele View Post
    Does this affect the stuff (condos. restaurant, and club house/pool) across the street at all or is that not owned by Peaks?
    Attitash Mountain Village is owned by a separate entity, Attitash Mountain Service Company, Inc.

    Which also owns Eastern Slope Inn & The Oxen Yoke, so I don't believe they should be affected.

  4. #4
    Sorry to hear, but this fits in with their past practices.

  5. #5
    I wonder what the average revenue split is on rental income from other hotels like the Grand Summit at Attitash?

    The reality is that the hotel was ill conceived in the first place. I bet the occupancy rates of the facility are horrendous outside of peak ski weekends. Maybe they do okay in the summer, but it's not located in a great location compared with some of the other valley properties.

    Threatening to close the restaurant and pool facilities is probably not a scare tactic as much as the reality that those facilities are underutilized and likely bleed cash.

    I stayed there once a few years ago. A friend won a free nights stay. We both agreed that we likely wouldn't pay to stay there as the unit clearly hadn't been updated since the place was built 20+ years ago. That's likely the fault of the unit owner, not the hotel operator. Even though it's slopeside, I'd be much more interested in staying at one of the mountain village properties due to the better location.

    The turnover in GMs really shouldn't surprise people. I'm sure they get easily frustrated by the poor financial performance and difficulty in staffing such an inconsistent property. I'm not sure how you fix it. I'm sure many of the condo owners look at investing in the property the same way Peaks does - throwing good money after bad

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  6. #6
    Quote Originally Posted by deadheadskier View Post
    The reality is that the hotel was ill conceived in the first place. I bet the occupancy rates of the facility are horrendous outside of peak ski weekends. Maybe they do okay in the summer, but it's not located in a great location compared with some of the other valley properties.
    Isn't that the case at most mountains/resorts though?
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  7. #7
    Quote Originally Posted by Jcb890 View Post
    Isn't that the case at most mountains/resorts though?
    Oftentimes, but the Attitash Grand Summit is an especially unfortunate situation though. North Conway is a huge bed base and great 4 season location. The Grand is located 20 minutes outside the town with NOTHING around it. It literally is only useful as a slopeside location to Attitash. If you're in the region for anything else, there's thousands of beds nearby that are way better so unless you're skiing Attitash, you won't look there - it won't even show up on most searches!

    In contrast, at like, Loon, the resort is located in Lincoln, another good 4 season location. Any lodging built by Loon there would be able to compete for Lincoln's year round traffic while the Grand at Attitash cannot compete for Conway year round guests.

  8. #8
    Quote Originally Posted by Jully View Post
    Oftentimes, but the Attitash Grand Summit is an especially unfortunate situation though. North Conway is a huge bed base and great 4 season location. The Grand is located 20 minutes outside the town with NOTHING around it. It literally is only useful as a slopeside location to Attitash. If you're in the region for anything else, there's thousands of beds nearby that are way better so unless you're skiing Attitash, you won't look there - it won't even show up on most searches!

    In contrast, at like, Loon, the resort is located in Lincoln, another good 4 season location. Any lodging built by Loon there would be able to compete for Lincoln's year round traffic while the Grand at Attitash cannot compete for Conway year round guests.
    That is a good point. I'm thinking of places like Killington or Mount Snow which don't really have anything around them for people to do outside of using the mountain.
    2014 - 2015 Season: 16 days
    2015 - 2016 Season: 24 days
    2016 - 2017 Season: 33 days
    2017 - 2018 Season: Hoping for 35+ days!

  9. #9
    Quote Originally Posted by Jcb890 View Post
    That is a good point. I'm thinking of places like Killington or Mount Snow which don't really have anything around them for people to do outside of using the mountain.
    Exactly. For a lot of the resorts with big hotels, the resort is the only game in town, so if there is ANY summer traffic, the hotel can at least compete. The Grand at Attitash can't compete during off seasons and in the ski season there is one of the best ski towns in New England 20 minutes away where you could stay instead.

    At first glance a hotel 'just' 20 minutes outside of Conway doesn't sound like a bad idea. Very different in practice though!

  10. #10
    How is Attitash Village as a location? I've never spent any time in there. Are there things to do? Are the units a little more updated than the grand summit?

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