New majority owner of Peak Resorts

deadheadskier · May 1, 2019

BenedictGomez said:
I recall reading the initial filing, and I believe it did at the time as I remember realizing that Mount Snow was largely the cash cow. I also remember thinking their debt level was staggering, and then they bought Hunter.

My interest concern the lack of investment at Attitash. I'm sure it has much to do with their debt situation, but I'd also be curious if the mountain is turning a healthy enough profit that perhaps they don't feel they need to invest in improvements.

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andrec10 · May 1, 2019

BenedictGomez said:
I recall reading the initial filing, and I believe it did at the time as I remember realizing that Mount Snow was largely the cash cow. I also remember thinking their debt level was staggering, and then they bought Hunter.

Hunter is another cash cow for them!

jimmywilson69 · May 1, 2019

I'm certain the reason they bought snow time here in PA was to suck the profits from here and cover their debt...

Now that their public it'll be interesting to see just how much money those 3 resorts makes in a season.

mbedle · May 1, 2019

From the initial IPO

FY 2014
Property Revenues % Revenues Visits
Hidden Valley

$ 4,072 3.9 % 97.8
Snow Creek

3,072 2.9 % 73.7
Paoli Peaks

3,661 3.5 % 78.0
Mad River

7,831 7.4 % 180.0
Boston Mills

4,505 4.3 % 117.5
Brandywine

4,808 4.6 % 132.1
Crotched Mountain

4,398 4.2 % 94.6
Jack Frost

6,570 6.2 % 134.1
Big Boulder

5,967 5.7 % 102.2
Attitash (5)

14,353 13.6 % 172.3
Mount Snow (5)

41,350 39.3 % 468.9
Wildcat Mountain

3,322 3.2 % 64.4
Alpine Valley

1,297 1.2 % 36.0

Total

$ 105,205 100.0 % 1,751.5

drjeff · May 1, 2019

jimmywilson69 said:
I'm certain the reason they bought snow time here in PA was to suck the profits from here and cover their debt...

Now that their public it'll be interesting to see just how much money those 3 resorts makes in a season.

The 3 resorts that comprised Snow Time represented about 600,000 annual skier/rider visits, and given the relatively up to date infrastructure of those 3 resorts, didn't need much major capital upgrades. Additionally they further solidified what appears to be Peak's current strategy of being a company with a pass that focuses on people living East of the Mississippi. Time will tell about that strategy.

Add in the skier days that Hunter typically provides and over the course of the last few seasons, they've bought about 1000000 skiers visits to the company, and with a company estimated revenue per visit at about $80 right now, while adding to the debt, it also adds to the cash flow. The ski industry isn't an industry for the faint of heart for sure!

jimmywilson69 · May 1, 2019

Its concerning to me that a company that seems so insolvent just bought my home hills. They've caused quite a stir here and they've handled the public relations of forcing the peak pass down our throats poorly at best.

I have no choice as Roundtop is 4 miles from home.

catskillman · Jul 30, 2019

https://www.vaildaily.com/opinion/carnes-vail-resorts-destroys-drug-kingpins/

[h=1]Vail Resorts destroys drug kingpins[/h]
recent interesting article!!

thetrailboss · Jul 30, 2019

catskillman said:
https://www.vaildaily.com/opinion/carnes-vail-resorts-destroys-drug-kingpins/

[h=1]Vail Resorts destroys drug kingpins[/h]
recent interesting article!!

Funny article.

Im not sure if paying the Sacklers a significant chunk of change is "destroying" them.

Funky_Catskills · Jul 30, 2019

catskillman said:
https://www.vaildaily.com/opinion/carnes-vail-resorts-destroys-drug-kingpins/

[h=1]Vail Resorts destroys drug kingpins[/h]
recent interesting article!!

Was killing me that Hunter was owned by those Sackler mother f'ers... One of the reasons I'm stoked for Vail..

BenedictGomez · Jul 30, 2019

thetrailboss said:
Im not sure if paying the Sacklers a significant chunk of change is "destroying" them.

If that's being "destroyed", sign me up for as much destruction as possible.

BenedictGomez · Jul 30, 2019

I also thought that article is weird in that it suggests Park City locals are in love with Vail ownership. That is about as far from the vibe I get from being there as is humanly possible. Unless it's just that you only hear from the people that bitch, but I sure have heard lots of bitching.

ScottySkis · Jul 30, 2019

This personal subject is hard for me and it efficting many lovely people family's and friends and is a major epidemic terrible in Sullivan County NY now. I not posting this to debate it it happened and I will post to help someone else hopefully . I loss my friend in around April 1 2019
We need to get people. Who are afflicted by this out of jail and into health industry that can help.
I don't really know who the blame. Government is my #1
Its fucken really bad. I loss a close friend who said he was sober and just using cannabis. He was lovely person went to AA NA and day group s was graduating the day program. Because he was working. On Friday I saw him I had no idea that be the last day I saw him. We found out that horrible news on Tuesday at group . everyone was very upset. Its real. Its killing way to many people I think it should be debated on how to help addiction no wants it

thetrailboss · Jul 30, 2019

BenedictGomez said:
I also thought that article is weird in that it suggests Park City locals are in love with Vail ownership. That is about as far from the vibe I get from being there as is humanly possible. Unless it's just that you only hear from the people that bitch, but I sure have heard lots of bitching.

Yeah, from my quick read it was meant as a tongue-in-cheek piece. Park City folks aren't happy with Vail. Or Alterra. First world problems. :lol:

Glenn · Aug 1, 2019

"Hating Vail is like hating Nickelback. People just do it because they think it’s cool.”

:lol:

abc · Aug 1, 2019

thetrailboss said:
Park City folks aren't happy with Vail. Or Alterra. First world problems. :lol:

Totally a first world problem!

Park City was never "quiet" or uncrowded even in the pre-Vail days. DV maybe. Not PC.

So I'm not entirely sure what they were upset about with the Vail take over. I have two friends who had been skiing the Canyons. They were not bitching. Their pass price dropped a few hundred dollars! They TALK about the crowds. But then, they've been talking about the crowd forever as I can remember! They talk about it in terms of how to get away from the crowd while on mountain. That's about it.

Vail definitely brought more people to PC. But the change wasn't particularly significant because it was on the relatively crowded side to begin with... (not nearly as Alterra did to DV for that matter).

FBGM · Aug 1, 2019

abc said:
Totally a first world problem!

Park City was never "quiet" or uncrowded even in the pre-Vail days. DV maybe. Not PC.

So I'm not entirely sure what they were upset about with the Vail take over. I have two friends who had been skiing the Canyons. They were not bitching. Their pass price dropped a few hundred dollars! They TALK about the crowds. But then, they've been talking about the crowd forever as I can remember! They talk about it in terms of how to get away from the crowd while on mountain. That's about it.

Vail definitely brought more people to PC. But the change wasn't particularly significant because it was on the relatively crowded side to begin with... (not nearly as Alterra did to DV for that matter).

Let’s clear up some misinformation here

Deer Valley still has a skier cap and they said that number has not changed. So really no “more busy” there

Park City has always been busy. But since Vail is has for sure increased. And increased with way more flatlanders and morons. That’s what the locals don’t like. The ski crowd is horrible there. But that’s what vail wants LA idiots to ski 3 runs and then drink and eat.

Vail has also bought quite a bit in town. Hotel, stores, etc. that didn’t help. Also real estate and rentals are through the roof and Vail is to blame. For good and bad there. But there is no employee housing and Vail pays peanuts. They have had mass lifty coordinated sick days and walk outs. It’s funny.

raisingarizona · Aug 1, 2019

FBGM said:
Let’s clear up some misinformation here

Deer Valley still has a skier cap and they said that number has not changed. So really no “more busy” there

Park City has always been busy. But since Vail is has for sure increased. And increased with way more flatlanders and morons. That’s what the locals don’t like. The ski crowd is horrible there. But that’s what vail wants LA idiots to ski 3 runs and then drink and eat.

Vail has also bought quite a bit in town. Hotel, stores, etc. that didn’t help. Also real estate and rentals are through the roof and Vail is to blame. For good and bad there. But there is no employee housing and Vail pays peanuts. They have had mass lifty coordinated sick days and walk outs. It’s funny.

That's pretty interesting. I'd love to hear more from locals there.

FBGM · Aug 1, 2019

raisingarizona said:
That's pretty interesting. I'd love to hear more from locals there.

Second home there for over 10 years. Ask away

abc · Aug 1, 2019

Deer Valley still has a skier cap and they said that number has not changed. So really no “more busy” there

Have you skied pre and post IKON regularly to say with such definitive “no more busy”???

Or was THAT the “misinformation” that needs clearing up?

drjeff · Aug 1, 2019

abc said:
Have you skied pre and post IKON regularly to say with such definitive “no more busy”???

Or was THAT “misinformation” that needs clearing up?

Here's my perspective on this.... As crazy as this sounds, the retired couple from NYC who owns the condo 2 down from mine at Mount Snow, have now spent the last 3 winters (2nd week of December through 3rd week in March) out in Park City. They've had either Deer Valley or IKON passes each year.

When they returned this year, I was talking with the husband (he's quite the crumudgeonly guy on his best days to say the least ;-) ) and when I asked him how his season in Utah was he essentially said "The F#$king cheap IKON pass had Deer Valley with Mount Snow weekend like crowds probably 25 days this season! And the 3 weeks we were in Jackson had more Sh$t show days than regular days trying to get out of the base area!"

While I have a bunch of GREAT friends/neighbors in my condo complex at Mount Snow for sure, I also have a few of "those" neighbors too! ;-)

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