I think you've got an answer: $0.
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I think you've got an answer: $0.
MEtoVTSkier
Active member
Hey, Stenger said at the last passholders meeting, they'd be investing 3x the dollars that they spent this summer on snowmaking. We'll know in a few months if he was lying or not.
It is clear they have been aligning the story to avoid additional investment in the snow making piece.
They flat out told everyone snowmaking equipment is dependent on "resort revenue" which due to their shenanigans and piss poor management we know consist of $0 in hotel revenue and probably 90% passholder revenue at this point as I can't imagine many people have been fleeced out of day passes and the 'Rack is probably barely breaking even.
So no resort revenue, no investment in snow making. Because to believe in the "if you build it they will come" philosophy of investing in the snow product to drive hotel visits and lift tickets that would suggest they need to invest some of their own Qmoney and we that Qwon't Qhapppen.....and they will tell you to suQ it.....
3 x $0 = $0
Yeah-$0
doublediamond
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Wasn't all the money this year from BMA?
Folks suspect that....
So 3 x someone else's money = $0 Q dollars spent
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VTKilarney
Well-known member
Interesting. At the last passholder meeting Quiros said that they would be spending double the amount that was spent last summer. He said this more than once.
Yes, 2x$0=3x$0. We have already solved this problem.
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VTKilarney
Well-known member
Good point. I guess it doesn't matter what he says.
In all seriousness, I went back and looked at the notes from the December meeting. Quiros indeed said that they would be spending three times as much. And now in January he says that it will be two times as much.
This is not at all good.
If the Q's real goal is just the management fees, the attitude could be to just let the resort die and sell it for whatever. As long as the loss on the resort is significantly less than the management fees, why care what happens?
However, I'm not sure why you'd bother with all the qbranding unless it is tied into the EB5 marketing somehow.
I hope that is not the case though.
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However, I'm not sure why you'd bother with all the qbranding unless it is tied into the EB5 marketing somehow.
I hope that is not the case though.
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Good point. I guess it doesn't matter what he says.
In all seriousness, I went back and looked at the notes from the December meeting. Quiros indeed said that they would be spending three times as much. And now in January he says that it will be two times as much.
This is not at all good.
It's a simple equation, really:
Q = BS
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VTKilarney
Well-known member
I have heard rumors from multiple sources that the hotel will not open until May. One of the sources has been VERY reliable in the past. I've been sitting on this for a couple of weeks. But now that I am hearing it from multiple sources I figured I would post it.
Who knows if it's true.
Who knows if it's true.
How is this even possible? This goes well beyond Epic Fail.
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VTKilarney
Well-known member
Well, at the passholder meeting it was stated that they would need at least two weeks to open once the state releases the money that they need to finish the project. And the state has not yet released the money.
Realistically, two weeks probably means three or four. From what I've heard, they have decided that if they can't open by President's Day, there is no point in opening until the summer. And the rumor going around is that they already know that they aren't going to open by President's Day.
Again... these are just rumors at this stage.
But if they are true, it boggles my mind that they are still taking hotel reservations. Maybe they are doing so just to keep up appearances with potential EB-5 investors and they don't care one bit if actual customers are screwed over. That wouldn't surprise me.
So they have a $55 million asset sitting idle. Brilliant.
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VTKilarney
Well-known member
Technically a $20 million asset that they spent $55 million on. :roll:
Right now a $0 asset that they have nobody to operate and have sunk $55 million of other people's money into. Awesome.
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VTKilarney
Well-known member
And I am sure that the employees are just sitting by idly waiting for it to open.
MEtoVTSkier
Active member
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