Jay Peak bombshell - Page 130

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  1. #1291
    Quote Originally Posted by thetrailboss View Post
    Maybe, but do they have the capital to take it on? They just took on Solitude and from my observations and conversations things aren't going so well there. Not much snowmaking going on. Maybe it is a learning curve.
    Alterra has plenty of capital as the owners have deep pockets. Vail had a bad financial report about one month ago and I think they would prefer to spend their dollars integrating Stevens/Triple Peak with new lifts, lodges, etc. Alterra already has a strong foot in the Quebec market with Tremblant, and they know the mountain has been more crowded this season with the Ikon Pass (I was there last week and can verify the lines were historically long and management blamed Ikon). Giving an alternative option in Jay would be beneficial. Additionally, they only own one NE mountain (Stratton) while Vail owns three (Stowe, Okemo, Sunapee). Alterra knows they could use another couple mountains, so I think they are the ultimate buyers.

  2. #1292
    thetrailboss's Avatar
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    Quote Originally Posted by skitheeast45 View Post
    Alterra has plenty of capital as the owners have deep pockets. Vail had a bad financial report about one month ago and I think they would prefer to spend their dollars integrating Stevens/Triple Peak with new lifts, lodges, etc. Alterra already has a strong foot in the Quebec market with Tremblant, and they know the mountain has been more crowded this season with the Ikon Pass (I was there last week and can verify the lines were historically long and management blamed Ikon). Giving an alternative option in Jay would be beneficial. Additionally, they only own one NE mountain (Stratton) while Vail owns three (Stowe, Okemo, Sunapee). Alterra knows they could use another couple mountains, so I think they are the ultimate buyers.
    Just read this: https://unofficialnetworks.com/2019/...KLYS2ZcG2nxSPU

    Take it with a grain of salt.

    They too point out that Vail had a rough year. Seems Alterra would be more likely.

    Nobody seems to mention Boyne as a potential contender. Although it would suck traffic away from Sugarloaf I would think.
    Live, Ski, or Die!


  3. #1293
    thetrailboss's Avatar
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  4. #1294
    The sale of Burke Mountain Resort will be later due to the need for job creation through the EB-5 program
    LOL; sure, that's why.
    President - Bicknell's Thrush Extermination Solutions (BTES), LLC



  5. #1295

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    I though the idea last year was to package them (Jay and Burke) together so that Burke would be sold. Otherwise, who would be a willing buyer for Burke as a stand alone Mtn?

    Is it producing a profit? or has it in the last 5 years?

    Does the Mountain Academy have enough $ to buy it?

  6. #1296
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    Quote Originally Posted by NY DirtBag View Post
    I though the idea last year was to package them (Jay and Burke) together so that Burke would be sold. Otherwise, who would be a willing buyer for Burke as a stand alone Mtn?

    Is it producing a profit? or has it in the last 5 years?

    Does the Mountain Academy have enough $ to buy it?
    The reason for separating them is that Burke is still not "there" yet as to the EB-5 obligations in order to get the investors ther green cards, pay them back, and make the resort free and clear of the whole EB-5 issue.

    As to profit, it is a private entity, so we do not know for sure. It is widely accepted that they have not made a profit in the last few years. Q has owned it the last five years and I think that there has not been any profit during that time. Q scared away a lot of business.

    And does BMA have the money? They, as in BMA proper, does not. But those affiliated with BMA have a lot of $$$$. As to would "BMA buy it", we can go back to the future...or go back to 2000 when they did. But with that huge hotel it is much less likely that would work or be viable.

    Obviously the receiver is leaning on BMA to help him find a deep pocket to take it all over.
    Live, Ski, or Die!


  7. #1297
    An article in today's newspaper said that Jay Peak has to sell for $250 million in order for the investors to be made whole.


  8. #1298
    Quote Originally Posted by VTKilarney View Post
    An article in today's newspaper said that Jay Peak has to sell for $250 million in order for the investors to be made whole.
    Well that's not happening.
    President - Bicknell's Thrush Extermination Solutions (BTES), LLC



  9. #1299
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    Quote Originally Posted by VTKilarney View Post
    An article in today's newspaper said that Jay Peak has to sell for $250 million in order for the investors to be made whole.
    Wow, just wow. To put this in perspective, Vail bought Okemo, the Sunapee lease, AND Crested Butte for $82 million to Triple Peaks, and $155 million to the REIT land owners (total of $237 million for THREE resorts).

    https://vtdigger.org/2018/06/04/vail...-million-deal/

    Vail bought Stowe's mountain operations for $50 million.
    Live, Ski, or Die!


  10. #1300
    Apparently the Burlington Free Press originated the story. Here is a quote from the local newspaper:
    "The Burlington Free Press reports appointed receiver Michael Goldberg would need a sale price of $250 million to recoup funds for the investors."

    This should be a sobering wake-up call to the people that excused Quiros and Stenger because things got built. This is a very high probability that there are going to be some real victims here.

    I misspoke earlier. The article in the local newspaper ran yesterday, not today.

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