Jay Peak bombshell - Page 136

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  1. #1351
    Vail is not interested in Jay, but Alterra and these others are:

    https://vtdigger.org/2019/09/05/vail...ss-presses-on/



    It looks like Jay will take a massive tax hit. From the article: The town of Jay has the resort assessed on the grand list at $124 million. The U.S. Securities and Exchange Commission, during a May 2016 court hearing, valued Jay Peak at $42 million, based on average profits.

  2. #1352
    machski's Avatar
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    Quote Originally Posted by VTKilarney View Post
    Vail is not interested in Jay, but Alterra and these others are:

    https://vtdigger.org/2019/09/05/vail...ss-presses-on/

    It looks like Jay will take a massive tax hit. From the article: The town of Jay has the resort assessed on the grand list at $124 million. The U.S. Securities and Exchange Commission, during a May 2016 court hearing, valued Jay Peak at $42 million, based on average profits.
    Given the pending Peaks buy, Vail will own outright 7 resorts in New England alone. They not having interest in Jay does not surprise me. Another buy, especially in VT, would increase any Anti-Trust scrutiny. From a selfish side, would love to see Alterra buy them and add to Ikon with a second unlimited area in NE.

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  3. #1353
    Quote Originally Posted by VTKilarney View Post
    Vail is not interested in Jay, but Alterra and these others are:

    https://vtdigger.org/2019/09/05/vail...ss-presses-on/

    It looks like Jay will take a massive tax hit. From the article: The town of Jay has the resort assessed on the grand list at $124 million. The U.S. Securities and Exchange Commission, during a May 2016 court hearing, valued Jay Peak at $42 million, based on average profits.
    LOL ... The article says that “Vale” is not interested, but “Ultara” might be

  4. #1354
    thetrailboss's Avatar
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    Quote Originally Posted by VTKilarney View Post
    Vail is not interested in Jay, but Alterra and these others are:

    https://vtdigger.org/2019/09/05/vail...ss-presses-on/

    It looks like Jay will take a massive tax hit. From the article: The town of Jay has the resort assessed on the grand list at $124 million. The U.S. Securities and Exchange Commission, during a May 2016 court hearing, valued Jay Peak at $42 million, based on average profits.
    The difference in value is likely due to one valuation of the property and real estate (the higher number) and the other being the going interest value (the business itself).
    Live, Ski, or Die!


  5. #1355
    Quote Originally Posted by thetrailboss View Post
    The difference in value is likely due to one valuation of the property and real estate (the higher number) and the other being the going interest value (the business itself).
    Any way you slice it, a $124M valuation for Jay Peak, wherever that came from, was absolutely bat**** crazy versus what we know about their annual revenue of somewhere between $2M & $9M.
    President - Bicknell's Thrush Extermination Solutions (BTES), LLC



  6. #1356
    So here's the list of Jay Peak tire-kickers from VTDigger:

    Alterra
    A Communist Chinese oligarch
    Pacific Group
    Och-Ziff
    AWH Partners


    I still think Alterra is the most logical choice for a whole host of reasons.
    President - Bicknell's Thrush Extermination Solutions (BTES), LLC



  7. #1357
    thetrailboss's Avatar
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    Quote Originally Posted by BenedictGomez View Post
    Any way you slice it, a $124M valuation for Jay Peak, wherever that came from, was absolutely bat**** crazy versus what we know about their annual revenue of somewhere between $2M & $9M.
    Yes, true. "Grand List" is the value of the real property in the town. Remember that over the years Stenger and Company created many different partnerships and entities for each of their "projects" at Jay, so technically I bet that there are several different entities that own real estate up there, while the ski area itself is a separate operation.
    Live, Ski, or Die!


  8. #1358
    Quote Originally Posted by BenedictGomez View Post
    Any way you slice it, a $124M valuation for Jay Peak, wherever that came from, was absolutely bat**** crazy versus what we know about their annual revenue of somewhere between $2M & $9M.
    No way Jay only does 9 million in revenue, let alone 2.

    Its isn't worth 124 million though.
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  9. #1359
    Quote Originally Posted by AdironRider View Post
    No way Jay only does 9 million in revenue, let alone 2.

    Its isn't worth 124 million though.
    Correct, I meant profit, not revenue. I dont recall if revenue is public knowledge, but on < $10M in profits, lets say it's $30M - $40M in top-line revenue, there's no way you can get anywhere near a $124M value.
    President - Bicknell's Thrush Extermination Solutions (BTES), LLC



  10. #1360
    thetrailboss's Avatar
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    Quote Originally Posted by BenedictGomez View Post
    So here's the list of Jay Peak tire-kickers from VTDigger:

    Alterra
    A Communist Chinese oligarch
    Pacific Group
    Och-Ziff
    AWH Partners


    I still think Alterra is the most logical choice for a whole host of reasons.
    Good summary of the interested parties.
    Live, Ski, or Die!


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