B-Eastski
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Okay a rebuild is probably what is needed which would be for two HSQs 4-8 million alone. Stratton is rebuilding American Express costing 4 million. 1 lift.
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Receiver Announces that Burke has a Stalking Horse Bid and Deal will Close by End of 2024
- Thread starter thetrailboss
- Start date
Wonder what the typical lifespan is on a rebuild. I think of the Wildcat HSQ as it's nearing 30 years old. A full replacement probably would cost what? $10M? If you could get another 20 years for a $4M rebuild, that probably makes sense for a mid sized area.
SkiingInABlueDream
Active member
Where are you getting TWO HSQs needing rebuild at Burke?
Edit. My point being, one of those chairs is fairly new still and doesn't need rebuild
Mid-Burke HSQ is fine; Sherburne is 20 years old and as I said was struck by lightning in 2023 and has been glitchy.
Big Wave Dave
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That’s a great idea. Those trails are underutilized as is.From the NEK had an easy and inexpensive proposal: shorten the Willoughby Quad and have it end right below Upper Fox's Folly so that intermediates can ski the lower blues. But the poor Willoughby is dying a slow and painful death.
I can't take credit. It was From the NEK's idea.
Are you going to the "Community Forum" tomorrow night to hear a former bidder complain about how unfair it is that they are not in the running for the ski resort? I think that the community has dodged a bullet without realizing it quite yet.
My sources confirm that the purchaser is who folks suspected. The family name, when added to the word 'Cracker', is a favorite sweet treat used with S'mores.
BenedictGomez
Well-known member
I dont want to engage in a public war of words, which is why in a completely unsolicited, voluntary, and unnecessary fashion I'm releasing a letter to the press.
jimmywilson69
Well-known member
I see no issue with the statement, but also see your point. The whole receiver thing is weird. It sounds like he has a better and higher offer which his job.
What a bizarre saga from the get go...
What a bizarre saga from the get go...
drjeff
Well-known member
Yup, the job of the receiver is ultimately to get the most $$ back to the original investors, as possible. Even if that may ultimately mean that whoever the receiver eventually agrees to a deal with, may not be the "best" person/group to oversee the next era of operating Burke. Hopefully it will end up with that person/group, actually being the "best" for the next phase of Burke operations, but that isn't a given
Yeah, he was pissed.
The highest bidder is not a stranger to Burke and has previously brokered two sales and even owned it as a silent partner.
Court-ordered receiver says he is 'finalizing' sale of Burke Mountain ski resort - VTDigger
This is the third time in as many years that Michael Goldberg has reported the expected sale of the Northeast Kingdom resort, following similar announcements in 2023 and 2024.
vtdigger.org
I am listening to the presentation. I am not impressed. The main speaker, Tood Firestone, is just rambling. Some observations, so far.
1. He admitted that they did lower their offer because of the delays in the process. He is trying to justify this as being normal. I call B.S.
2. He did not offer any specific ideas and instead just offered general ideas and thoughts.
3. His partner, from this Wisconsin Resorts, commented that Burke is "similar" to Searchmont (it is not).
4. He wants to lower the base of the Mid-Burke HSQ to the level of the hotel.
5. The first question he was asked about selling the hotel rooms as condos and people were not happy about it. He then went on to basically say he is going to sell them.
6. They are asking the public to demand a public auction of the area.
7. Todd claims that he and his partners manufacture fan guns. He is saying that they can do it for $8-10,000 per gun and is relying on this for the mountain.
8. The first question was by the guy who had started the petition a few weeks ago. His was disappointed that this presentation provided no specifics.
9. Todd is openly questioning the Receiver.
10. A second person pushed back on the sale of the hotel rooms as condos. Todd just is ignoring that feedback.
11. A person pushed back on the access issues when BMA is training.
12. Todd admitted that he had not skied in Vermont in five years due to IKON/Epic and crowds.
13. He claimed that Burke only has "two blue runs" and it needs more. Someone did not do their homework.
14. Many people expressed discomfort that this group does not have adequate capital. The response was, "trust me, we have the capital".
15. One partner said they plan on $20 million investment in 3-4 years "depending on the reaction" to their improvements.
16. The question was asked about how many units would be converted to condos. They said "84-116 units", or the entire hotel.
17. Someone said that the most important thing that needs to remain is the Bear Den Lounge
18. They disclosed that the average occupancy rate is 40%. They are not giving up on this idea to condominimize the Hotel.
19. Todd said that the mountain is a "distressed asset" and that they would of course consider increasing their bid.
20. Mark said that there was an offer of $12 million that did not move forward. He also took some shots at the Receiver.
Overall, I am not impressed at all by this group. I stand by my assessment that this seems shady. The intent tonight was to get everyone excited for their bid and try to convince the Receiver to sell to them. People were less than enthusiastic. It’s also clear to me that their real intent is to buy the Hotel for a steep discount and to resell all the units as condos for a huge profit. That’s their only plan.
1. He admitted that they did lower their offer because of the delays in the process. He is trying to justify this as being normal. I call B.S.
2. He did not offer any specific ideas and instead just offered general ideas and thoughts.
3. His partner, from this Wisconsin Resorts, commented that Burke is "similar" to Searchmont (it is not).
4. He wants to lower the base of the Mid-Burke HSQ to the level of the hotel.
5. The first question he was asked about selling the hotel rooms as condos and people were not happy about it. He then went on to basically say he is going to sell them.
6. They are asking the public to demand a public auction of the area.
7. Todd claims that he and his partners manufacture fan guns. He is saying that they can do it for $8-10,000 per gun and is relying on this for the mountain.
8. The first question was by the guy who had started the petition a few weeks ago. His was disappointed that this presentation provided no specifics.
9. Todd is openly questioning the Receiver.
10. A second person pushed back on the sale of the hotel rooms as condos. Todd just is ignoring that feedback.
11. A person pushed back on the access issues when BMA is training.
12. Todd admitted that he had not skied in Vermont in five years due to IKON/Epic and crowds.
13. He claimed that Burke only has "two blue runs" and it needs more. Someone did not do their homework.
14. Many people expressed discomfort that this group does not have adequate capital. The response was, "trust me, we have the capital".
15. One partner said they plan on $20 million investment in 3-4 years "depending on the reaction" to their improvements.
16. The question was asked about how many units would be converted to condos. They said "84-116 units", or the entire hotel.
17. Someone said that the most important thing that needs to remain is the Bear Den Lounge
18. They disclosed that the average occupancy rate is 40%. They are not giving up on this idea to condominimize the Hotel.
19. Todd said that the mountain is a "distressed asset" and that they would of course consider increasing their bid.
20. Mark said that there was an offer of $12 million that did not move forward. He also took some shots at the Receiver.
Overall, I am not impressed at all by this group. I stand by my assessment that this seems shady. The intent tonight was to get everyone excited for their bid and try to convince the Receiver to sell to them. People were less than enthusiastic. It’s also clear to me that their real intent is to buy the Hotel for a steep discount and to resell all the units as condos for a huge profit. That’s their only plan.
Last edited:
Burke Mountain Battle: Firestone Pushes Back Against Sale
Todd Firestone, a New York investment banker, and Michael I. Goldberg, a Florida lawyer, are engaged in a high-stakes confrontation over the future of Vermont’s Burke Mountain, a distressed ski
www.northstarmonthly.com
AdironRider
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- Nov 27, 2005
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- 3,676
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Firestone seems to completely miss that a hostile takeover is not the right way to start off owning the largest business in a small community.
Worked for Vail! They just didn't say the quiet parts out loud! Haha
#15 especially
#15 especially
Well, season passes are now on sale.
