aquisition rumors 2010

[deadheadskier]

I wish a wealthy INDIVIDUAL would buy Sugarloaf, a individual that has ties to Maine, and knows some basics of operating a ski resort or knows what people to put in charge of operations. I am sick of "The Loaf" being second fiddle to any resort in Maine when it's in a class of it's own and is easily one of the nicest resorts both real estate wise and the mountain itself anywhere in the East. Two new lifts, plus the opening up of Burnt Mountain.

Is that asking for too much?

Bill Gates could own the Loaf and it would still be second fiddle to Sunday River for two reasons.

1. access - most busy weekend travelers don't want to tack on that extra hour

2. wind holds - Loaf maybe the most susceptible resort in the east.

I love Sugarloaf, but can easily see why Sunday River is more popular to the 'casual' skier, which makes up the bulk of participation in our sport.

 

[marcski]

CNL owns about 15 ski resorts and have been smart about keeping them spread out around the country keeping away from the radar of the Dept of Justice.

I would think that the reason they spread their resorts around the country is more to balance out poor snow years rather than fear of the DOJ coming down on them.

 

[Hawkshot99]

I would think that the reason they spread their resorts around the country is more to balance out poor snow years rather than fear of the DOJ coming down on them.

The way that CNL works, snow years do not matter. They own the properties, and are paid rent by the group that runs the ski mountain. Just like a pizza shop that is located in a strip mall. The property owner gets his rent regardless how good the year was.

 

[ski_resort_observer]

I would think that the reason they spread their resorts around the country is more to balance out poor snow years rather than fear of the DOJ coming down on them.

I would assume that was on the list of pros regarding their acquisition MO.

They also own a bunch of Golf/Tennis Resorts, their original asset class. They are newbies regarding ski resort ownership which I assume why they use the lease-back business model for all of their ski resorts. For the ASC resorts Boyne actually puchased the resorts from ASC, the CNL purchase from Boyne with lease-back was part of the plan and completed within hours after the ASC sale.

 

[marcski]

I would assume that was on the list of pros regarding their acquisition MO.

They also own a bunch of Golf/Tennis Resorts, their original asset class. They are newbies regarding ski resort ownership which I assume why they use the lease-back business model for all of their ski resorts. For the ASC resorts Boyne actually puchased the resorts from ASC, the CNL purchase from Boyne with lease-back was part of the plan and completed within hours after the ASC sale.

Yes, I see....(I read a little about CNL, after my post in response to yours). They also pool their properties and then sells shares as a REIT. Interesting.

 

[arik]

I wish a wealthy INDIVIDUAL would buy Sugarloaf, a individual that has ties to Maine, and knows some basics of operating a ski resort or knows what people to put in charge of operations. I am sick of "The Loaf" being second fiddle to any resort in Maine when it's in a class of it's own and is easily one of the nicest resorts both real estate wise and the mountain itself anywhere in the East. Two new lifts, plus the opening up of Burnt Mountain.

Is that asking for too much?

How about "Sugarloaf, brought to you by LL Bean...."

Lots of opportunity to show off outdoor cred of gear.

 

[deadheadskier]

How about "Sugarloaf, brought to you by LL Bean...."

Lots of opportunity to show off outdoor cred of gear.

funny you mention that. When ASC broke up, I was living in Portland. LL Bean was often mentioned as the ideal company to take over Sunday River and Sugarloaf.

 

[Vortex]

They bid with Less Otten for both, Well so they say.....

 

[ski_resort_observer]

They bid with Less Otten for both, Well so they say.....

Yup, Bean was hooked in with a partnership of Otten and Warren Cook, former Pres/CEO of the Loaf who thought that they had the purchase of SR/Loaf in the bag as Cook made a presentation to the Town of CV as to their future plans for the resorts. The embarrassment probably didn't last long as Cook is now running Saddleback for the Berry family.

One semi-interesting tidbit of the sale mentioned in a press release sent out by Boyne in 2007 to their resorts about the sale to CNL and their operating lease is that Boyne requested and got approved a name change from Sugarloaf USA to just Sugarloaf so it didn't conflict with their parent company, Boyne USA

 

[Puck it]

Also under the SARP. If you own a season pass and ski more then 20x a year. You will have to a pay an additional fee to pay for the people that ski less than 10x a year.

 

[UVSHTSTRM]

Bill Gates could own the Loaf and it would still be second fiddle to Sunday River for two reasons.

1. access - most busy weekend travelers don't want to tack on that extra hour

2. wind holds - Loaf maybe the most susceptible resort in the east.

I love Sugarloaf, but can easily see why Sunday River is more popular to the 'casual' skier, which makes up the bulk of participation in our sport.

Well, I wasn't talking skier visits in terms of "second fiddle" I am talking of where the parent company spends their money. I completely understand why they choose to spend money at SR as opposed to SL.

As to your two points, the funny part is it is just an hour, but I understand the day trippers and weekenders time is of the essence. And windholds, yes they are an issue, but I would bet on most days that when the top is closed down SL still has more vertical drop and comparable trails. Granted again day travelers don't want to take the chance that the entire mountain would be shut down for that particular day.

This brings me back to my original point of adding terrain, better lifts (this includes lifts that are less of a risk of being shut down on windy day).....also adding more days of snowmaking. SL has the locality and elevation to be first open and last to close. Granted all of this would take a wealthy individual and an idividual who could afford to lose money.

Finally my OP was more of a day dream then anything that would happen in reality.

 

[deadheadskier]

It's nice to day dream. I'm with you in that I think it would be awesome to see Sugarloaf be all that it 'could' be.

 

[andrec10]

Maybe either Powder corp or Boyne resorts. Still no announcement of the new 6-pack...

A day later and the 6-pack is Legit! I guess you can cross Hunter off of this list!