I remember that article well.........I really wish they would write a folow-up/update on the current situation etc.
That being said, bankruptcy wouldn't be a good thing on many fronts, like TB mentioned it screws the locals owed money but also has throws property values into a strange place etc.
The whole thing is still in a place where things can bounce back...provided there is a change at the helm and it doesn't look like Daddy is willing to do that.
IF they can make it to the summer season and these are big IFs and get the hotel opened up and squared away (as in good staff, good food, good service etc.) and get the bike park cranking and fully engage the wedding market and nail those.....they have somewhat of a chance to get some cash flow going but I'm not sure it will be enough to offset the costs of running that big hotel.
No matter what they do up on the mountain they are still faced with the issue that there is no "scene" up there for MTBers like the Tiki Bar and East Burke has developed into. There is some potential on the back patio where Brew fest has taken place but that has turned into a Q suck fest as well.
Additionally, the "scene" is picking up on Darling Hill around the Wildflower including Village's soon to be new shop across the street from where they are currently and anything up on the mountain will be a distant 3rd option if even that.
I do get the vibe that if Q can't package a project with some significant EB-5 qualifying infrastructure build he can't get stuff done. Once something is built, I seriously question if there is any real operational skill set in his organization other than what has been developed at Jay. It doesn't look like there is any deep pool of working capital to run a ski mountain like Burke let alone a 3-4 season resort with hotel.
Ski resorts like Equestrian pursuits......you can become a millionaire doing either of them, however you need to start out as a billionaire.
That being said, bankruptcy wouldn't be a good thing on many fronts, like TB mentioned it screws the locals owed money but also has throws property values into a strange place etc.
The whole thing is still in a place where things can bounce back...provided there is a change at the helm and it doesn't look like Daddy is willing to do that.
IF they can make it to the summer season and these are big IFs and get the hotel opened up and squared away (as in good staff, good food, good service etc.) and get the bike park cranking and fully engage the wedding market and nail those.....they have somewhat of a chance to get some cash flow going but I'm not sure it will be enough to offset the costs of running that big hotel.
No matter what they do up on the mountain they are still faced with the issue that there is no "scene" up there for MTBers like the Tiki Bar and East Burke has developed into. There is some potential on the back patio where Brew fest has taken place but that has turned into a Q suck fest as well.
Additionally, the "scene" is picking up on Darling Hill around the Wildflower including Village's soon to be new shop across the street from where they are currently and anything up on the mountain will be a distant 3rd option if even that.
I do get the vibe that if Q can't package a project with some significant EB-5 qualifying infrastructure build he can't get stuff done. Once something is built, I seriously question if there is any real operational skill set in his organization other than what has been developed at Jay. It doesn't look like there is any deep pool of working capital to run a ski mountain like Burke let alone a 3-4 season resort with hotel.
Ski resorts like Equestrian pursuits......you can become a millionaire doing either of them, however you need to start out as a billionaire.
