Big Burke announcement

[VTKilarney]

Well Masskier, I told you that I would apologize if I was incorrect. You insisted that construction on the hotel would begin this spring as soon as the ground allowed. You insisted that you have credible inside information. I should have listened. I should have ignored the multiple incorrect statements you made in the past.

So as a man who lives up to his word, I officially apol.... oh.... wait... hold on...

Burke just changed their website! They scrubbed the reference to the project commencing this spring.
The cached version, from Apr 7th, is here:
http://webcache.googleusercontent.c....com/our-direction/+&cd=1&hl=en&ct=clnk&gl=us

And as of today, take a look at the same page:
http://www.skiburke.com/our-direction/

Now they say the project is "starting soon."

Pray tell, what explanation do your "sources" (or is it "imagination") give for this deliberate change?

 

[MEtoVTSkier]

...and your point is?

It's spring 2014, and they say "scheduled to begin soon", so what is the major difference/change you are referring to? It's not like they said "postponed" or anything.

Seems like you are just here to stir up an non-existent issue, instead of contributing something useful. At least tell us you your "Source of Information" is to lend some credibilty to your claims. Masskier said his was a phone call with one of the "Owners", so who's yours?

 

[VTKilarney]

You honestly believe that a purposeful removal of the statement that construction will begin this spring has no meaning?

I am not revealing my source because doing so could have negative consequences for that person. As I have stated before, construction could not begin without this person's knowledge. This person would also know if construction is delayed.

You should infer from my arrogance that my source is accurate. That's why I have taken so much exception to the spread of misinformation. We here in the NEK value truth.

 

[Big Wave Dave]

VT Kilarney- you are putting an unnamed source against someone who has offered a conference call to and also has the NEK's paper of record on his side. Forget your sarcasm (I get your point, but...chill) and let us know then- what in fact is going on? far more helpful than engaging in a crusade based on semantics. Write a letter to the Cal Record and tell them to stop spreading misinformation if thats really the way you feel.

 

[from_the_NEK]

I have a feeling we'll know more in a month

 

[VTKilarney]

Big Wave Dave, Jay Peak management also said that everything was in place for the Burke hotel - permits and financing - and that the delay was solely a weather related decision. Well, here we are and the website about the project was just changed to remove the reference to commencing construction this spring. So I don't see why anyone is blindly following what the ski area management says. common sense ought to be more important than blind faith.

I think the reason this is so frustrating is that a few weeks ago I was thinking about the project and became concerned. In about ten total minutes I was able to put the pieces together. And I've go no connection to Burke. I don't work there, I'm not a property owner there, and I have no connection to the school. If a chump like me could follow the breadcrumbs, there is really no excuse for people in the know to have not followed those same breadcrumbs.

As I said earlier, I am rooting for Burke. Big time. If I could choose to live near any mountain in Vermont, Burke would likely be at the top of my list. It's an honor and a privilege to live so close to Burke. If the hotel is built, it's one more element in making the mountain a viable business. But I also want people to be able to trust the mountain's leadership. This has been a trying year in that regard. It would be nice if Ary would be honest about what is going on with the hotel. That would be a step in restoring the local trust that he has lost.

I may ultimately be proven wrong, but as every day passes my confidence in my prediction grows by leaps and bounds. There is no assurance that EB-5 will be extended past September, 2015 - so investors are going to want to know that the project will be completed by that time. Tick tock...

 

[VTKilarney]

I have a feeling we'll know more in a month

I have a feeling that we won't know much more, sadly.

 

[thetrailboss]

I have a feeling we'll know more in a month

Right.

And the idea that you can call the owner and expect to get the real deal is very naïve. They are walking a tightrope now that competition for EB-5 funds is so tight. So they have to keep the cards close to the chest. They also have to be diplomatic and reassuring especially since there have already been some major missteps.

When the excavators show up call me. But in the meantime it sounds like no news.

 

[VTKilarney]

And the idea that you can call the owner and expect to get the real deal is very naïve.

And keep in mind that the Caledonian Record just reported what Stenger said. They didn't do any sort of investigation into his comment.

Here is why I am very concerned:
1) You have a known delay in at least two projects (Burke Hotel and 85 condo unit at Jay).
2) If the internet is to believed (big if), the exit strategy for Phase 1 investors at Jay is not even close to what they were initially led to believe.

If investors know (or believe) these two things, is future investment now compromised? My concern is that, if it is, we may have just passed a point of no return. I hope this is not the case.

 

[from_the_NEK]

If investors know (or believe) these two things, is future investment now compromised? My concern is that, if it is, we may have just passed a point of no return. I hope this is not the case.

If this scenario comes to fruition, it would be the latest case in Burke's long history of being just behind the 8 ball when it comes to development.

 

[thetrailboss]

If this scenario comes to fruition, it would be the latest case in Burke's long history of being just behind the 8 ball when it comes to development.

Something nobody wants.

 

[VTKilarney]

In the April 10 Caledonian Record Ary confirms that hotel construction is delayed with no specific start date.

The non-hotel projects are indefinitely delayed. They will happen when the "mountain is ready for them." (Hint to Ary: the mountain is ready.) So the only reason they are delayed is because the mountain is not ready? Right...

Masskier's insider info was wrong yet again. Still want to set up that conference call?

 

[deadheadskier]

In the April 10 Caledonian Record Ary confirms that hotel construction is delayed with no specific start date. The non-hotel projects are indefinitely delayed.

That sucks for Burke. Major setback. Hopefully they just need one more year of fundraising and don't throw in the towel. The mountain obviously needs beds to make it in the long term.

 

[thetrailboss]

So in an article that has not yet been released?

 

[VTKilarney]

The article is available to e-edition subscribers the night before the physical edition comes out.

In the article Ary insists that the hotel will be built this year. This is odd given that the delay was supposed to be weather related only. Why the wait to break ground? And how could it be built in less than nine months? Perhaps he meant that construction would start this year.

He says that skier visits were the same as last year but revenues were up by 10 percent. I'm trying to figure out how this happened given the aggressive discounting during the second half of the season.

 

[VTKilarney]

One other interesting tidbit from the article is that Ary is planning for a ski season that runs from December 14th through March 30th. He seems to not want to go past March 30th because it interferes with their ability to prepare for mountain biking. This schedule is fairly consistent with prior practice, is it not?

 

[VTKilarney]

The fallout continues. NEMBAfest has been moved from the mountain to Darling Hill.

2014 info:
http://www.mtbadventureseries.org/mtbadventure/NEMBAfest2014.htm

2013 info:
http://www.mtbadventureseries.org/mtbadventure/NEMBAfest2013.htm

 

[kingdom-tele]

And keep in mind that the Caledonian Record just reported what Stenger said. They didn't do any sort of investigation into his comment.

Here is why I am very concerned:
1) You have a known delay in at least two projects (Burke Hotel and 85 condo unit at Jay).
2) If the internet is to believed (big if), the exit strategy for Phase 1 investors at Jay is not even close to what they were initially led to believe.

If investors know (or believe) these two things, is future investment now compromised? My concern is that, if it is, we may have just passed a point of no return. I hope this is not the case.

3 big projects

the newport development also delayed, again

 

[sull1102]

Sounds like the sky is starting to fall for this clown Ary and the rest of the Q team, good riddance. Changing the name of a ski area that's over 40 years old to your last name initial... HOW STUPID ARE YOU! A 1ST GRADER DOESN'T EVEN THINK THAT'S COOL! I and everyone I ride with get a good laugh out of "Q Burke" every time we drive right by the exit and keep on going.

 

[dlague]

Yup QBurke was a bad idea! Didn't anyone verb that name choice? I think some of the decisions have poor by design and I too am concerned about the future. I skied Burke over thirty years ago and to see this is rather saddening.


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