Haystack / Hermitage news - Page 52

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  1. #511
    Would love for Haystack to once again be a less crowded alternative to Mount Snow. TBH I think the conditions would be right for Mount Snow to buy it again, and they might want to if there is another bidder in line.


  2. #512
    thetrailboss's Avatar
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    Quote Originally Posted by icecoast1 View Post
    I wouldn't be shocked to see the members that were trying to buy it from Barnes bid on it at auction. I'd be shocked to see it end up on NELSAP, theres a lot of people with a lot of money that want to see the place operate, real money too not the phoney monopoly money Barnes was playing with
    I also seriously think that it will probably resurface.
    Live, Ski, or Die!


  3. #513
    Quote Originally Posted by sull1102 View Post
    Does anyone else feel like this all hinges on the six pack and it's value? My feeling is if that lift off removed the mountain does not have a bright future, or any future because no one is paying to replace it someday and the triples can only do so much. Then the question becomes how much is the six pack worth as is right now? I wouldn't be shocked if the bank has asked around a little to see who is willing to pay what for it just to get an idea. Of the numbers were low, like $5 million fine, but if someone was feeling crazy and said $8-9 million would it be worth it to get back half the loan in one quick shot?
    Considering the lift was $7.3M brand new, if someone would be willing to pay 8-9M for it used they would be certifiably insane. You can argue it doesn't have a ton of hours on it, but it is still a used lift.

  4. #514
    thetrailboss's Avatar
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    Quote Originally Posted by sull1102 View Post
    Don't forget Mount Snow is booming so those home values are going to go up regardless. They might take a small dip, but the private homes will rebound quickly. Same with the Chamonix townhouses. If some developer could separate that operation and build it out then you have a good option for townhouses with a luxurious entry road.

    Does anyone else feel like this all hinges on the six pack and it's value? My feeling is if that lift off removed the mountain does not have a bright future, or any future because no one is paying to replace it someday and the triples can only do so much. Then the question becomes how much is the six pack worth as is right now? I wouldn't be shocked if the bank has asked around a little to see who is willing to pay what for it just to get an idea. Of the numbers were low, like $5 million fine, but if someone was feeling crazy and said $8-9 million would it be worth it to get back half the loan in one quick shot? How much is the club really going to sell for? It's not getting up to $15-20 million, no chance in hell.

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    Dumb question. What was the initial install price?
    Live, Ski, or Die!


  5. #515
    Quote Originally Posted by thetrailboss View Post
    Dumb question. What was the initial install price?
    Hah! You posted that at the same time that I posted the answer in my previous post - $7.3M

  6. #516
    Quote Originally Posted by cdskier View Post
    Considering the lift was $7.3M brand new, if someone would be willing to pay 8-9M for it used they would be certifiably insane. You can argue it doesn't have a ton of hours on it, but it is still a used lift.
    I would be floored if anyone paid more than $5.5 million. Still might be enough regardless to make the bank want to sell.

  7. #517
    thetrailboss's Avatar
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    Quote Originally Posted by cdskier View Post
    Hah! You posted that at the same time that I posted the answer in my previous post - $7.3M
    Great minds think alike! $7.3 m. So someone would want a hefty discount. I'd think that the price would be about $3.7-4 m or so.

    Unfortunately a lot of lifts nowadays are custom engineered for their location and application. So a remove and replace proposition is not as easy as it might appear.

    Maybe Magic is looking for a six-pack?
    Live, Ski, or Die!


  8. #518
    Quote Originally Posted by thetrailboss View Post
    Dumb question. What was the initial install price?
    $6,902,632

  9. #519

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    Keep in mind that the actually lift did not cost 6.9 million, I am sure that number includes all the engineering, design work, delivery and install costs.

  10. #520
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    Quote Originally Posted by sull1102 View Post
    Don't forget Mount Snow is booming so those home values are going to go up regardless. They might take a small dip, but the private homes will rebound quickly. Same with the Chamonix townhouses. If some developer could separate that operation and build it out then you have a good option for townhouses with a luxurious entry road.

    Does anyone else feel like this all hinges on the six pack and it's value? My feeling is if that lift off removed the mountain does not have a bright future, or any future because no one is paying to replace it someday and the triples can only do so much. Then the question becomes how much is the six pack worth as is right now? I wouldn't be shocked if the bank has asked around a little to see who is willing to pay what for it just to get an idea. Of the numbers were low, like $5 million fine, but if someone was feeling crazy and said $8-9 million would it be worth it to get back half the loan in one quick shot? How much is the club really going to sell for? It's not getting up to $15-20 million, no chance in hell.

    Sent from my Pixel using AlpineZone mobile app
    Well, for the time being, the lift is going no where. The bank asked to put it in receivership to keep the property in functional shape. That means maintaining lifts where they are and keeping them operational. Now, if the bank wants to buy Hermitage out of its own receivership, I guess they could then sell the lift. But given they opted for receivership, sounds like an auction to sell the entire resort off is the first option that needs to be taken. If that fails (as in no qualified bidders), I would think then the bank would terminate the receivership and liquidate assets.

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