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Jay Peak bombshell

thetrailboss

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So I read the SKI Magazine article last night. I'm sure that it will surface on their webpage soon...almost all their content eventually gets posted online. It was indeed dated....I'd say that it was obviously done last season or so and is referring to November 2013 data. Their reference to the Newport Marina and Hotel should have been deleted since that project is dead for now.

More eerily enough was Stenger gloating about how he "may not even have to repay" the investors at all....or could repay them on his terms. Obviously he said that before this summer's clusterfuck and would not be making the same statement in 2014. He made that statement at least twice in the article. That really made Jay look bad IMHO.

Other than that, I noticed some clearly ambitious Stenger Talk © about how great things were and their awesome plans. First, they now have 3,000 beds and claimed a 90% occupancy rate for a random weekend in November, attributed to 600 people for a hockey tournament, a couple weddings, and some other parties. By my calculations I think he was exaggerating a bit there. The 600 people would account for 600 beds at most. That leaves 2,100 beds. Those weddings probably are only 200 people or so each...so that is 400 beds max. That leave 1,700 beds if not more to account for. Those are some big parties.

As to the plans, they said again that big changes are coming including replacing the Jet, Bonnie, and the West Bowl. I remember in 2003 a ski patroller telling me on the Freezer that the West Bowl was coming "next year". 12 years later.....

The article also referred to Q in it and offered the lame excuse to why they renamed it Q Burke "to distinguish themselves" from previous failures. Judging by that stupid comment, I'd place the date on this article to be about December 2013 or January 2014 since Q Sr. trotted out that line (and his slanderous comments) in January.

In sum, my critical read of the article made Jay look worse than before. Joe Cutts is a good freelance author, so I doubt that he screwed up here. I'm not being negative, just reading it with a critical eye because of my education, experience, and training. I think that a superficial read of it is positive until you dig down and pay attention to what was said and the logic (or lack thereof) behind it.
 

BenedictGomez

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That's what I'm thinking. If I were Chinese (or from countless other nations), I'd give up everything I had in a heartbeat for US citizenship.

Which is part of the reason why they laser focus EB-5 on Chinese investors.

Article is not related to Jay but is about the EB-5 program.

Here's a telling tid-bit from that article.

Investments usually are pooled through “regional centers,” which also have grown exponentially, from fewer than 50 in 2008 to 600 this year.

A dozen per state = LULZ. Doesn't exactly require a genius to figure out what's going on here folks.
 

mbedle

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Trailboss - wouldn't the occupancy rate be based on rooms and not beds? In other words, they may have 3K beds, but significantly less rooms to fill to hit a 90% occupancy rate.

So I read the SKI Magazine article last night. I'm sure that it will surface on their webpage soon...almost all their content eventually gets posted online. It was indeed dated....I'd say that it was obviously done last season or so and is referring to November 2013 data. Their reference to the Newport Marina and Hotel should have been deleted since that project is dead for now.

More eerily enough was Stenger gloating about how he "may not even have to repay" the investors at all....or could repay them on his terms. Obviously he said that before this summer's clusterfuck and would not be making the same statement in 2014. He made that statement at least twice in the article. That really made Jay look bad IMHO.

Other than that, I noticed some clearly ambitious Stenger Talk © about how great things were and their awesome plans. First, they now have 3,000 beds and claimed a 90% occupancy rate for a random weekend in November, attributed to 600 people for a hockey tournament, a couple weddings, and some other parties. By my calculations I think he was exaggerating a bit there. The 600 people would account for 600 beds at most. That leaves 2,100 beds. Those weddings probably are only 200 people or so each...so that is 400 beds max. That leave 1,700 beds if not more to account for. Those are some big parties.

As to the plans, they said again that big changes are coming including replacing the Jet, Bonnie, and the West Bowl. I remember in 2003 a ski patroller telling me on the Freezer that the West Bowl was coming "next year". 12 years later.....

The article also referred to Q in it and offered the lame excuse to why they renamed it Q Burke "to distinguish themselves" from previous failures. Judging by that stupid comment, I'd place the date on this article to be about December 2013 or January 2014 since Q Sr. trotted out that line (and his slanderous comments) in January.

In sum, my critical read of the article made Jay look worse than before. Joe Cutts is a good freelance author, so I doubt that he screwed up here. I'm not being negative, just reading it with a critical eye because of my education, experience, and training. I think that a superficial read of it is positive until you dig down and pay attention to what was said and the logic (or lack thereof) behind it.
 

billski

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That would not be a first for the Newport area! Lots of promising companies had proposed to build there and then never happened.
There was a Newport Planning board meeting held on Dec. 23rd. The draft minutes were published on the town website.

"...Ms. de Ortiz asked about the inclusion of the waterfront hotel in the long term vision, since the plans seem to have fallen through. Charles Elliot (Board Chairman) indicated he will keep the waterfront hotel in the Board's long term vision since he believes it will happen it some point. It may not be Jay Peak or Bill Stenger who bring it to pass or in the same timeline but he believes a project similar to that will happen at some point. Ms. de Ortiz asked for an update on the downtown block; Mr. [John] Ward (Newport City Manager) replied that they are working on asbestos abatement now and will soon start lead abatement. If things go well, he estimates demolition will begin in March or April."
 

VTKilarney

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Trailboss - wouldn't the occupancy rate be based on rooms and not beds? In other words, they may have 3K beds, but significantly less rooms to fill to hit a 90% occupancy rate.
I am not sure that would help the picture because hockey tournaments tend to have more people per room than average.
 

thetrailboss

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Trailboss - wouldn't the occupancy rate be based on rooms and not beds? In other words, they may have 3K beds, but significantly less rooms to fill to hit a 90% occupancy rate.

The article says beds. Perhaps he meant two different things but I know that in the industry they count beds typically.


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mbedle

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Steve@jpr

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Occ

just a quick point of clarity here--the industry (like every other) uses rooms as relating to the issue of occupancy (and not beds) ie, here, when we claim 95% occupancy (the average over the past 10 days inclusive), we are referring to 95% of our 600-ish rooms (ish, because homeowners making their units available varies on a daily basis) occupied. I'm guessing I probably misinterpreted what's being said here and, that being the case, pls ignore me. Happy new year.

sw

The article says beds. Perhaps he meant two different things but I know that in the industry they count beds typically.


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thetrailboss

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just a quick point of clarity here--the industry (like every other) uses rooms as relating to the issue of occupancy (and not beds) ie, here, when we claim 95% occupancy (the average over the past 10 days inclusive), we are referring to 95% of our 600-ish rooms (ish, because homeowners making their units available varies on a daily basis) occupied. I'm guessing I probably misinterpreted what's being said here and, that being the case, pls ignore me. Happy new year.

sw

That helps. Thanks.


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fbrissette

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This is supposed to complete all development on stateside. AFAIK the new cottages will be built in prime location along the chalet meadows trail, where the old T-bar used to be.

Only the West Bowl will remain for Jay Peak to complete their Master plan, which would include relocating the Bonnie and butchering the Orchard.
 

Smellytele

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Not sure if anyone has been in the bar at the new State side lodge but the area to me is way too small. This includes the seating area not actually in the bar. It is a very thin area and hard to move around in. It is smaller than the old state side but I haven't seen the cafe area downstairs maybe that makes up for it but upstairs while nice looking is too small.
 

deadheadskier

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BG - Newport Hospital isn't exactly right down the street. Given Jays growth, I'd think having a decent medical facility on site is important; especially with the water park.
 

from_the_NEK

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BG - Newport Hospital isn't exactly right down the street. Given Jays growth, I'd think having a decent medical facility on site is important; especially with the water park.

I'll add weather to that equation too. It is a long way to the hospital in Newport and the weather around Jay can make it even longer. imagine breaking a bone in the terrain park, having to wait 30+ minutes for an ambulance (assuming the one is close by isn't already on a run). Then bumping down route 242 and finally getting to the hospital 1.5 hours later.

The number of people around the Jay Peak area participating in activities that could injure them definitely provides a good reason to have a medical center.
 

BenedictGomez

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BG - Newport Hospital isn't exactly right down the street. Given Jays growth, I'd think having a decent medical facility on site is important; especially with the water park.

The number of people around the Jay Peak area participating in activities that could injure them definitely provides a good reason to have a medical center.

I'll tell you one thing, it will be the best place ever to be a doctor or a nurse given how low volume it's going to be.
 
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