Catamount Ski Area News - Page 2

AlpineZone

Page 2 of 5 FirstFirst 1234 ... LastLast
Results 11 to 20 of 43
  1. #11
    x10003q's Avatar
    Join Date
    Aug 2009
    Location
    Bergen County, NJ
    Posts
    684
    Quote Originally Posted by ss20 View Post
    Purchased by Berkshire East for $2.3M...

    http://www.newenglandskiindustry.com...hp?storyid=688

    Couple of interesting points...



    1. $2.3M sounds absurdly low. I can't believe that's the going-rate on a well-established 4-season mountain that has no substantial problems.
    The $2.3 million is easily backed into once you see the financial numbers. BE is really tuned into the value of Catamount based on being in the same business in roughly the same area. After that, you need to see what the current owners will take.

  2. #12
    machski's Avatar
    Join Date
    Sep 2014
    Location
    Northwood, NH (Sunday River, ME)
    Posts
    1,565
    Quote Originally Posted by Abominable View Post
    A bit of googling and it looks like these things generally go for 6X earnings. So I suppose that means Catamount makes 400K / year.

    Is it surprising that Hunter makes so much more (15 times more?) than a Catamount?

    ILDWOOD, Mo., November 30, 2015 -- Peak Resorts, Inc. (NASDAQ:SKIS), a leading owner and operator of high-quality, individually branded ski resorts in the U.S., today announced it has entered into an agreement to purchase Hunter Mountain, the Catskills' premier winter resort destination, for cash consideration of $35 million plus the assumption of two capital leases estimated at approximately $1.8 million. Hunter Mountain generates approximately $27 million (unaudited) in annual revenue. The purchase price is slightly more than six times Hunter Mountain’s adjusted EBITDA, which is estimated at approximately $6 million (unaudited) for its fiscal year ended April 30, 2015.
    You really are comparing apples to oranges here. For starters, how many detachable lifts did Hunter have when peaks bought it, 3 I think (maybe 4). Catamount has none, so right there is a big difference. The real estate thing at Catamount, not such a draw. The previous owner tried to do some stuff and it got quashed by other local interests. So not like anything is shovel ready. Plus the previous ownership retired out, so a bit of cash and freeing of debt may have been good enough here.

    Sent from my XT1650 using AlpineZone mobile app

  3. #13
    JimG.'s Avatar
    Join Date
    Oct 2004
    Location
    Hopewell Jct., NY
    Posts
    10,230
    Quote Originally Posted by machski View Post
    You really are comparing apples to oranges here. For starters, how many detachable lifts did Hunter have when peaks bought it, 3 I think (maybe 4). Catamount has none, so right there is a big difference. The real estate thing at Catamount, not such a draw. The previous owner tried to do some stuff and it got quashed by other local interests. So not like anything is shovel ready. Plus the previous ownership retired out, so a bit of cash and freeing of debt may have been good enough here.

    Sent from my XT1650 using AlpineZone mobile app
    2 detachable lifts when Peaks bought Hunter.

  4. #14
    Just curious, how much was Ascutney worth with a new detach?

    It's all about earnings, with a little future expectations thrown in.

  5. #15
    Exactly. You can invest in all the high-tech equipment you want. Unless it converts into earnings/EBITDA, it means almost nothing in terms of the value of the business.

  6. #16
    machski's Avatar
    Join Date
    Sep 2014
    Location
    Northwood, NH (Sunday River, ME)
    Posts
    1,565
    Quote Originally Posted by Tin Woodsman View Post
    Exactly. You can invest in all the high-tech equipment you want. Unless it converts into earnings/EBITDA, it means almost nothing in terms of the value of the business.
    Except for the fact, most large resorts feature at least one. Those that don't are either nitch resorts that do well (MRG, Smuggs come to mind) or lesser areas probably not making much return. I would put Catamount in the later category. Ascutney couldn't have been worth much, since it went out and no one stepped up to buy. Kind of sad, I actually took a long cut 2 fridays ago from K and drove by As****ey for the first time ever. Looked like an interesting area, too bad it is mostly gone (lower half may be revived next winter I guess).

    Sent from my SM-T900 using AlpineZone mobile app

  7. #17
    Its just surprising...I'd figure the equipment of the lifts, groomers, snowmaking, etc is worth $2m alone...
    2019-2020 0 days and holding...
    "Skiing is the closest you'll get to flying without leaving the ground." -snowmonster

  8. #18
    Smellytele's Avatar
    Join Date
    Jan 2006
    Location
    Right where I want to be
    Posts
    6,854
    When Ascutney went OOB they sold all their lifts. Crotched got the detachable and Pat's Peak bought the rest as well as a bunch of snow making equipment (which they turned around and sold to someone else)
    2010/11 - 30days 2011/12 - 29days 2012/13 - 40 days 2013/14 - 39 days 2014/15 - 42 days
    2015/2016 -27 days 2016/17 - 51 days 2017/18 - 57 days

  9. #19

    Join Date
    Jan 2018
    Location
    Long Island / Killington
    Posts
    153
    Some new construction going on at Ascutney. Looks like new base building being put in and the remaining tow rope was refurbished. The mountain itself was much taller and bigger than I imagined. Looks like it had some decent terrain back in the day.

  10. #20
    It had very fun terrain. Lack of natural snow and decent snowmaking did it in. A real shame as it was so convenient to 91. Had it been done right, it could have been a nice low key family alternative for folks in CT and western Mass who desired a bigger hill than what is in the Berkshires, but didn't want to deal with the southern VT big resort crowds and expense.

    Sent from my XT1635-01 using AlpineZone mobile app

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
All times are GMT -5. The time now is 8:26 PM.