Balsams Wilderness

[Smellytele]

Find 2 more couples and you could rent a whole mountain for yourselves for a day plus have $300 per couple left over.

 

[SIKSKIER]

No worries

You sound like somone with a jealous streak.

Not sure where that is coming from.Jealous of what?Dropping a 1300 spot for a weekend?To each his own.I splurge on many things that others might think is crazy.Just pointing out the value comparison is all I'm saying.If your implying I'm jealous for financial reasons your way off in that one.No worries here.

 

[billski]

on Wilderness Nordic FB page:

"This time, "no news is good news" doesn't apply--still no news about the winter months for skiing, or staying in Dixville Notch..."

Nov 17th.

 

[billski]

Historic Balsams Hotel Bought By NH Businessmen

Historic Balsams Hotel Bought By NH Businessmen

Formal Announcement Expected Tomorrow

POSTED: 9:39 pm EST December 6, 2011
UPDATED: 9:44 pm EST December 6, 2011



Read more: http://www.wmur.com/news/29938336/detail.html#ixzz1foowGwMc

DIXVILLE NOTCH -- Dan Herbert and Dan Dagesse met with owners of the Balsams Grand Resort Hotel today in Concord to finalize their purchase of the historic hotel, according to a spokesman for the buyers.

They expect to formally announce the deal tomorrow morning.

Herbert, Dagesse and representatives of the Tillotson Corporation, the hotel's current owners, still need approval from a group of trustees before they can finalize the deal.

When asked about whether the new buyers would re-open the hotel, a spokesman said they are planning major renovations.

Dagesse owns the Berlin City Auto Group. Hebert owns a construction company in Colebrook.


Read more: http://www.wmur.com/news/29938336/detail.html#ixzz1fooUJs7a

 

[Morwax]

That place is a GEM! Lets hope it gets the TLC it deserves. We would love to spend a weekend or two up there.
More on the subject
http://news.nhpr.org/post/balsams-resort-sold

 

[snowmonster]

Great news that the sale of the resort is finally done.

When asked about whether the new buyers would re-open the hotel, a spokesman said they are planning major renovations.

I hope this doesn't mean that the ski area won't be opened this season. I wouldn't hold my breath for a hotel stay this season but, at least, run the ski area. The other thing I'm hoping for is that the new owners should honor old traditions -- like the bottle of maple syrup on the return visit!

 

[billski]

source http://www.colebrookchronicle.com/

In addition, the Chronicle has spoken with employees who had remained at the hotel following its seasonal closure in September and we were told that at 3:30 this afternoon, employees were contacted by Dan Hebert and told that the hotel would be closed indefinitely and that all keys were to be turned in; they were told that renovations would not begin until at least March and that in the meantime the property would remain shut down and not reopen for the winter season.

http://www.facebook.com/SaveTheBalsams

(Hebert and Dagesse) have already stated they will not sell any portion of the property for the Northern Pass.

A significant portion of the land (almost 6,000 acres) will be conserved by the Forest Society, which keeps the land as-is in perpetuity. We will have a map showing the property that has been transferred to the two Dannys, as well as the portions that will be conserved. The sale includes all Tillotson Corp. properties in both Dixville Notch and Colebrook.

A Forest Society spokesman said that would prevent the Northern Pass project from using the land.
...
http://www.nhpr.org/post/balsams-resort-sold-23-million
Balsams Resort Sold For $2.3 Millio
The selling price was $2.3 million and a renovation of the property is expected to take about 18 months. During that time the hotel will remain closed.

Lots of very good detail here

 

[snoseek]

2.3 mil? That's pretty cheap. Did I read that wrong or something?

 

[Edd]

I've never been. Anyone think it would be a good spot for skinning if the ski area is closed this year?

 

[steamboat1]

I've never been. Anyone think it would be a good spot for skinning if the ski area is closed this year?

Absolutely, it's a nice medium sized hill, nothing to steep but has some interesting terrain.

 

[deadheadskier]

2.3 mil? That's pretty cheap. Did I read that wrong or something?

Definitely a crazy low number, but I think for the place to be commercially viable, you would need to sink $15M into it easily. That's just the hotel. I have know idea what shape the ski area and golf course are in, but I have gotten a couple of tours of the hotel in the last five years during sales calls for work. It's in pretty rough shape compared to its competition to the south in the Mountain View Grand Hotel and the Mount Washington Hotel.

I'd imagine those two hotels are the primary reason of the Balsams demise. With the Mountain View reopening in 2002 following a 20M renovation and the Mount Washington going year round in 1999 and investing 60M since 2006 alone, the Balsams lacked compelling reasons for people to travel that much further for a lesser experience.

I know the Balsams was known for its food, but in today's age, a place in such a location would need to be over the top as a dining destination to get the Petrus Wine buying clientele of the world. The uber rich. The 'medium rich' folk are still going to go for the convenience of the Mountain View or Mount Washington. I'm talking top ten in the world dining destination. Think El Bulli or the French Laundry. I linked their dining room menu earlier in the thread and it's pretty much a joke for 2011. You and I could put out much better food than what's on that menu.

If I were the owner of Balsams and was serious about making it a food destination, I'd throw the bank at Eric Ripert.

It would suck for skiers, because I'm sure going so high brow would result in $100 lift tickets, but I really think a place in that location needs to go to that exclusive of a level to be economically viable.

 

[midd]

with El Bulli closed, Chef Adria is available...

Does Rene Redzepi have the cache with american audiences yet?

For boondocks NH, it'd have to be a bleeding edge chef. Ripert is great but bordering on Boulud/Jean-George V/Ducasse overexposure. Can already go to multiple restaurants in multiple cities and eat at their restaurants.

 

[deadheadskier]

with El Bulli closed, Chef Adria is available...

Does Rene Redzepi have the cache with american audiences yet?

For boondocks NH, it'd have to be a bleeding edge chef. Ripert is great but bordering on Boulud/Jean-George V/Ducasse overexposure. Can already go to multiple restaurants in multiple cities and eat at their restaurants.

Did you happen to catch Adria when he spoke in at Harvard this past Sunday?

Don't think Rene does.

My suggestion of Ripert is 1st because I think you need a rock star Manhattan based chef at the Balsams. Keller and Atchatz came to mind for certain, but they're not Northeast based. I also thought of the other chefs you listed and somewhat rule them out for how old they are. They're amazing, but lack the rock star quality of someone like Eric, Thomas or Grant because of their age. Daniel and Alain would get my nod over Jean Georges a in heartbeat though. JG has slored himself out much more than the others and has some hohum restaurants with his name on them.........Market in Boston without a doubt falls in that category. It's a great restaurant, but hardly one of the ten best in Boston. Perhaps not even one of the twenty best. I can't imagine Eric, Daniel or Alain opening a restaurant in Boston and it not being in the top 5.

Rippert is mid 40s, likes exposure (regular on Bourdain show) has a rapid following of top Manhattan execs. Makes perfect sense to me.

 

[midd]

Achatz is the guy. He'd be a huge draw. The whole experiential dining thing would sell at a place like the balsams.

 

[snowmonster]

Assuming that the Balsams goes after the high end of the market and positions itself by opening a gourmet destination restaurant, don't you think that that segment is already well-served by Stowe and Jay Peak?

 

[thetrailboss]

Yeah, $2.3 million seems low. Wonder if they are assuming debt or have lots of work to do to the place?

http://www.wcax.com/story/16215921/balsams-grand-resort-off-the-market

 

[billski]

Yeah, $2.3 million seems low. Wonder if they are assuming debt or have lots of work to do to the place?

http://www.wcax.com/story/16215921/balsams-grand-resort-off-the-market

the Grand Hotel is held by a charitable trust.
The buyers only get to "own and operate a hotel and related amenities."

 

[AdironRider]

2.3 million is about exactly what I would expect it to sell for in its current state.

For examples sake, the Four Seasons Jackson Hole AND Four Seasons Palo Alto recently sold for 95 million in stock. This is the premier hotel in Silicon Valley and one of the top 5 resorts in North America mind you, and combined they are both worth less than 100 million.

Given that the Balsams is dated, in need of serious reno's, and is not exactly killing it on the REVPAR, ADR, etc folds, 2.3 mil is the right price.

 

[AdironRider]

To followup, I think Ripert, or any other celebrity chef, is a pipe dream really. But if he just wanted to put his name on the place and collect a check without ever showing up to the place, he might be down, not that much precedence for that though in their location. Vegas or up the hills outside of LA he would have done it already...

 

[riverc0il]

Assuming that the Balsams goes after the high end of the market and positions itself by opening a gourmet destination restaurant, don't you think that that segment is already well-served by Stowe and Jay Peak?

Jay Peak is not serving the high end of the market. Alice's Table is nice but prices are extremely reasonable. Definitely not high end.