Bad Rumor Today at Alta (Sale of Interest in Snowbird to Cumming)

[JimG.]

Back to my original point, other than the fact that a Cummings has a house across the road to Snowbird is the only real connection that I see. POWDR does not have the money to BUY any resort right now. AFAIK they only have enough to lease their operations and even then they are struggling. So I doubt that they are going to buy Snowbird.

So, what you're saying is "never mind"?

 

[thetrailboss]

So, what you're saying is "never mind"?

I sure as hell hope so! :lol:

 

[Highway Star]

Back to my original point, other than the fact that a Cummings has a house across the road to Snowbird is the only real connection that I see. POWDR does not have the money to BUY any resort right now. AFAIK they only have enough to lease their operations and even then they are struggling. So I doubt that they are going to buy Snowbird.

Nah, you're wrong. I hear from a very reliable source that POWDR is going to sell both PCMR and Killington/Pico to Vail Resorts for a very reasonable deal, and use the freed up capital to buy Snowbird. K/P will go on the $550 Epic pass and the Interconnect will be built next summer, while Snowbird will see a 60% pass price increase, operate from December 15th to April 15th, and eliminate the connection to Alta.

Don't worry, you'll be in very capable hands with POWDR at Snowbird. Maybe they'll even put Chris Nyberg in charge, I know you were a fan of his management style at Killington. Nyberg will do a great job re-establishing Snowbird as a nearly top tier resort.

 

[thetrailboss]

Nah, you're wrong. I hear from a very reliable source that POWDR is going to sell both PCMR and Killington/Pico to Vail Resorts for a very reasonable deal, and use the freed up capital to buy Snowbird. K/P will go on the $550 Epic pass and the Interconnect will be built next summer, while Snowbird will see a 60% pass price increase, operate from December 15th to April 15th, and eliminate the connection to Alta.

Don't worry, you'll be in very capable hands with POWDR at Snowbird. Maybe they'll even put Chris Nyberg in charge, I know you were a fan of his management style at Killington. Nyberg will do a great job re-establishing Snowbird as a nearly top tier resort.

I will be looking forward to your proposed lift diagrams for Snowbird akin to what you did for Killington.

 

[Highway Star]

I, for one, welcome your new corporate overlords.

 

[steamboat1]

Cumming Family Partners...
[h=1]Snowbird Partnership[/h]


[h=3]Cumming Family Partners with Bass Family in Snowbird[/h] The Bass and Cumming Families announced today that they have entered into a partnership for the future operation and development of Snowbird Ski and Summer Resort. The partnership will provide continuing direction and funding for major capital improvement projects, including a new restaurant and skier services building atop the Aerial Tram, a Four Diamond remodel initiative for the Cliff Lodge, and the future renovation of the Snowbird Center.
“This partnership will enable Snowbird to achieve more rapid growth and even greater benefits for our guests in keeping with our founding perspective and philosophy of providing a year-round destination mountain resort for the enhancement of body, mind, and spirit, with our ever present emphasis on environmental protection and sensitivity,” said Richard D. Bass.
In addition, Bass feels extremely fortunate to have the Cumming Family join in Snowbird’s future, owing to his inability to live and work at Snowbird’s altitude because of his advancing age.
“I look forward to working with the Bass Family and the team at Snowbird in providing world-class experiences on and off the mountain,” said Ian M. Cumming, an original investor in the Inn at Snowbird. Cumming owns a home at Snowbird and his family has a long history of skiing at Snowbird. “We are very happy to be involved at a place that has so many fond memories for our family,” said Cumming.
“Partnering with the Cumming Family ensures a bright future for Snowbird,” said Snowbird CEO and President Bob Bonar, one of the first employees when Snowbird opened in 1971. “Snowbird’s commitment to providing exceptional skiing and year-round hospitality, entertainment, and guest service will only greatly increase as we go forward.”

Snowbird’s current management team, led by Bob Bonar, Tom Jones and Jerry Giles, will remain in place. The partnership is between the Bass and Cumming Families and does not involve Powdr Corp. Mr. Cumming will own a majority share of Snowbird. Dick Bass will remain as Chairman of the Board.

 

[thetrailboss]

Nooooooooooo!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

http://www.snowbird.com/partnership/?utm_source=snowbirdfuture&utm_medium=email&utm_campaign=may14

 

[thetrailboss]

One SMALL glimmer of hope:

Snowbird’s current management team, led by Bob Bonar, Tom Jones and Jerry Giles, will remain in place. The partnership is between the Bass and Cumming Families and does not involve Powdr Corp. Mr. Cumming will own a majority share of Snowbird. Dick Bass will remain as Chairman of the Board.

 

[marcski]

One SMALL glimmer of hope:

It's REALLY small, TB. He's old and definitely on his way out. This is definitely pretty bad. 4 Diamond remodel of the Cliff Lodge?? No more early and late season deals for cheap there.

 

[thetrailboss]

It's REALLY small, TB. He's old and definitely on his way out. This is definitely pretty bad. 4 Diamond remodel of the Cliff Lodge?? No more early and late season deals for cheap there.

So two old guys running it. Bass' family doesn't want to do it and I won't comment on the Junior Cummings' ability to run a ski area (or lack thereof). Weird.

It sounds like Cummings has invested in the mountain, Dick still has control, and management are remaining in place.

 

[thetrailboss]

Another article: http://www.sltrib.com/sltrib/money/57933760-79/snowbird-resort-bass-corp.html.csp

Confirms that Ian owns "Ted's House". Also indicates that this will be separate from POWDR.

And though Dick is chair he apparently is now a minority owner.

 

[Highway Star]

You are soooooo screwed.

 

[snoseek]

I'll take this over a Vail buyout anyday

 

[thetrailboss]

I'll take this over a Vail buyout anyday

The SL Trib's take on it:

http://www.sltrib.com/sltrib/money/57933760-79/snowbird-resort-family-ski.html.csp

They largely see it as positive.

 

[steamboat1]

I guess you can forget about Mary Ellen. Killington can't even replace the South Ridge chair. Don't even want to mention the interconnect or village. You were very lucky to get the two new quads before Bass sold.

 

[ScottySkis]

I womder if Peak will have multipe season pass with new england and west cpast mountains.

 

[thetrailboss]

I guess you can forget about Mary Ellen. Killington can't even replace the South Ridge chair. Don't even want to mention the interconnect or village. You were very lucky to get the two new quads before Bass sold.

We're very lucky that they did upgrade those lifts. If you read that article you'll hear SOC complaining about the new summit lodge that has already been approved and is going on top of a summit that was blasted, leveled, and graded 43 years ago. So it is already a disturbed area. And SOC is fighting Mary Ellen. Big time.

 

[drjeff]

I womder if Peak will have multipe season pass with new england and west cpast mountains.

????

My "Scotty speak translation app" is even at a loss with this one!

 

[thetrailboss]

I womder if Peak will have multipe season pass with new england and west cpast mountains.

Allow me to translate.

"While sipping my PBR, I contemplated on the implications of this business transaction. Specifically, I wonder if POWDR will offer a season pass with access to New England and western resorts."

 

[steamboat1]

Allow me to translate.

"While sipping my PBR, I contemplated on the implications of this business transaction. Specifically, I wonder if POWDR will offer a season pass with access to New England and western resorts."

Powdr already offers free skiing at their other resorts but it's only 3 days. After that you get a 20% discount I believe.

edit: From the K website.
[h=2]Unlimited Pass[/h] Valid at Killington Resort and Pico Mountain all season long. Plus, get free skiing and riding at six additional resorts throughout the country!

• New this year, Unlimited Adult, Senior and 29-below passholders receive THREE FREE DAYS at each of these five Powdr Resorts: Park City Mountain Resort in Utah, Boreal Mountain Resort in California, Copper Mountain Resort in Colorado, Mt Bachelor Resort in Oregon and Las Vegas Ski and Snowboard Resort in Nevada.
  • Additional days will be available at 20% off window rates.
  • Free days cannot be used December 27-31, 2014 and during Mt Bachelor's summer opening after Memorial Day.
  • Not valid with Super Senior Unlimited Pass.
  • Killington Season Pass will need to be presented at the other resorts’ ticket window each day for a lift ticket.
• Unlimited Youth and Child passholders receive UNLIMITED FREE DAYS at the same five sister resorts.
  • There are no blackout dates for youth passholders but offer is not valid during Mt Bachelor's summer opening after Memorial Day.
  • Killington Season Pass will need to be presented at the other resorts’ ticket window each day for a lift ticket.