ASC Financial situation

[uphillklimber]

x

 

[Joshua B]

This discussion is regularly featured on the NELSAP board.

 

[Joshua B]

Sure. 4 pages of it, starting here.

 

[Mikec13]

http://finance.yahoo.com/q/is?s=aesk.ob

try this

 

[NickKopan]

Here are some figures on the profit of ASC:
2004 Season
http://www.saminfo.com/action.lasso?-database=news2.fp3&-response=news_story.htm&-layout=par5&-sortField=anchor&-sortOrder=descending&-op=bw&archive=no&-op=bw&story_type='standard'&-maxRecords=1&-skipRecords=35&-token=25&-search
Q1 2004
http://www.saminfo.com/action.lasso?-database=news2.fp3&-response=news_story.htm&-layout=par5&-sortField=anchor&-sortOrder=descending&-op=bw&archive=no&-op=bw&story_type='standard'&-maxRecords=1&-skipRecords=94&-token=25&-search

 

[teachski]

A lot of what you can read on discussion boards on this subject is purely the conjecture of the members that post. I would imagine that the same is true for NELSAP/SJ on this topic. I really think that the industry reports (like SAM) would be a better indication.

I am not bad mouthing NELSAP/SJ, just saying that the information there, on this topic, is not from a representative of ASC nor is it from industry representatives. If that information were here I would be saying the same thing. We can all suppose what we think might happen, and we might get lucky and be right, but only ASC, their financial institutes and possibly industry representatives such as SAM know what is truly happening.

I'd like to think that no matter how ASC ends up faring, these ski areas will remain open and uneffected, even if there is a transition to new ownership.

 

[RISkier]

Don't know anything about ASC's financial status but I'm quite confident that IF they went into receivership the resorts would continue to operate and all passes would be honored. In general, these kinds of places are more valuable to the financial backers if they're maintained and kept operating. What might happen is they might close a bit earlier in the Spring if they're not turning a profit. I know some folks who are members at a golf course that went into receivership -- they actually seem happy, the course is in good shape and everything seems to be running more efficiently than it did before.

 

[NickKopan]

It appears Saminfo's links are relative to the record count, so they keep changing. Click here, and find "ASC" or "American":

http://www.saminfo.com/news.htm

Here's the article on ASC 2003 - 2004 season profit.


sam resort news




34836
American Skiing Company Posts Smaller Loss
SAM Magazine--Park City, Utah, June 10, 2004--American Skiing Company reported a loss for the nine months ended April 25 of $38.4 million, slightly less than the $42.8 million loss a year earlier. The company credited increased season's pass revenues, cost controls and coordinated marketing for the improved financial performance despite a slight decline in skier days.

Skier visits were off a reported 2 percent across the seven ASC areas. Visits were up 12 percent at the Canyons, but fell nearly 10 percent at Mt. Snow and Killington. ASC reported slight increases at Sunday River and Attitash, due in part to a joint discounted season's pass program.

Total consolidated revenue was $267.1 million for the first 39 weeks of fiscal 2004, compared with $248.7 million for fiscal 2003. Resort revenue was $237.1 million in fiscal 2004 compared with $238.0 million for fiscal 2003. Real estate revenue was $30.0 million, versus $10.7 million for the comparable period in fiscal 2003.

 

[Michael E. Bemis]

ASC

Let me weight in on a couple of points. First and foremost, for ASC and all the players in the industry, it’s just about money. Snow quantity and quality, length of season, lifts, etc. matter only if they do, which they increasingly don’t because these corporations have and are in the process of monopolizing the business. Fortunately this is being recognized by some resorts (for example, Mad River Glen) and they’re maintaining their independence, and thus their ability to operate their resorts in the only manner that will preserve what we have come to love about them. Running ski resorts from Wall Street may be a doomed concept, because, unlike everything else that has been taken down the corporate road, skiing has a major wild card that even the most brilliant executives can’t control—the weather. That fact coupled with the huge discretionary aspect of skiing, which is amplified during recessionary times, and it may just be that the skiing industry can’t be canned like Walmart.

Second, even independent ownership of a ski resort is perilous when real estate sales (condominiums) take center stage. Back in the 1980s Sugarloaf, then under sole ownership, when bankrupt when they invested too heavily in condominiums.

Finally, isn’t Les Otten waiting in the wings to buy ASC when it falters or fails?