Black Mountain, NH OPEN AGAIN more alive than ever

[jaytrem]

Leitner-Poma bought it in 2016, so no, that's just another brand name of the duopoly that's strangling the industry.

Wow, can't believe that was about 10 years ago already. The multi-year lift replacement thing they do is a good program for areas that can't afford to do it in one shot. Would be cool if Partek could copy that. My gut says Partek won't be back, hopefully I'm wrong.

 

[skef]

Stuart Winchester on the un-co-op-ification: https://open.substack.com/pub/skiin...ases-black?utm_campaign=post&utm_medium=email

 

[AdironRider]

I mean, anyone can be great at owning a ski area if they are willing to blow millions on it. But as a skier that's the owner you want.

I do laugh at the "buying the mountain back from the investors", you mean the company you own Erik?

 

[skier0819285]

I mean, anyone can be great at owning a ski area if they are willing to blow millions on it. But as a skier that's the owner you want.

I do laugh at the "buying the mountain back from the investors", you mean the company you own Erik?

Easy to blow millions on a ski area when you’re raking millions off the top of other small ski areas via the Indy pass. I’m shocked no other organization hasn’t offered to do the same thing for less, or as a non-profit.

 

[millerm277]

I mean, anyone can be great at owning a ski area if they are willing to blow millions on it. But as a skier that's the owner you want.

I do laugh at the "buying the mountain back from the investors", you mean the company you own Erik?

They started a co-op that was to own it, sold shares, and took money for it, so....yes? They do have to buy them back out, and without knowing the terms in those deals I don't know that it was automatic that he could buy them out at original price.

 

[Newpylong]

Easy to blow millions on a ski area when you’re raking millions off the top of other small ski areas via the Indy pass. I’m shocked no other organization hasn’t offered to do the same thing for less, or as a non-profit.

"Raking in millions off the top of other small ski areas". This monetary assumption is greatly exaggerated...

 

[AdironRider]

Indy has reduced payout to ski areas this year significantly. The question is just how much Indy revenue is being shared. They claim 85 percent, but no one can prove that. This is a bubbling issue and I think Indy is more vulnerable than people realize.

Also, if these “other investors” are anything other than other business vehicles Erik owns I’d be shocked.

I still think it is every skiers dream to have a guy willing to piss money into the wind and run a ski area with little financial regard. So ride that wave while you can. The amount of money currently being spent at Black is unsustainable but it’s nice now.

 

[LuckyStrike]

Raking in millions on champagne sales. I wish this guy would buy Sugarloaf, rip the soul out of it and make it the best ski destination in the east.

 

[pinion]

Also, if these “other investors” are anything other than other business vehicles Erik owns I’d be shocked.

The 2024 purchase had two classes of shares that already put money down, not all Indy/Erik. These were all purchased back in full + lifetime passes to Black.

 

[AdironRider]

No way in hell 16 other people just put 250k out for a couple years for basically nothing. Calling bullshit on that one.

 

[urungus]

I still think it is every skiers dream to have a guy willing to piss money into the wind and run a ski area with little financial regard. So ride that wave while you can. The amount of money currently being spent at Black is unsustainable but it’s nice now.

Black is making money hand over fist and is shattering its revenue records, have you been to the champagne bar ?

 

[Newpylong]

No way in hell 16 other people just put 250k out for a couple years for basically nothing. Calling bullshit on that one.

They did, it was not other business vehicles. I was there to see the investors being shown around.

 

[AdironRider]

Not buying it, and I’m sorry bud, but they aren’t telling the snowmakers the financial arrangements.

Again, this is by far the best outcome for Black skiers so don’t read that much into it.

 

[Newpylong]

Black is making money hand over fist and is shattering its revenue records, have you been to the champagne bar ?

Shattering revenue records but expenses are also off the charts. Not sustainable but necessary to modernize infrastructure right now. Evidence in snowmaking speaks volumes. More to come this off-season...

 

[millerm277]

Indy has reduced payout to ski areas this year significantly.

So you say. For a guy who's making a lot of wild claims here you've provided no proof of your own that I've seen. While it does seem like that'd be expected in a very good year for what seems like their prime markets (more ski days = less money per day), that still isn't proof of it.

The question is just how much Indy revenue is being shared. They claim 85 percent, but no one can prove that. This is a bubbling issue and I think Indy is more vulnerable than people realize.

Well, there's two possibilities here:
1. They're sharing 85% of the revenue like their contract states.
2. They aren't and they're going to be in prison in a couple years. Because the financial documents certainly exist to prove it, and I very much doubt the premise that the larger resorts especially aren't doing their due diligence on their contracts. (And also, with this many resorts - eventually there will be some kind of legal dispute over something from someone that makes it's way to a court and those records get subpoenaed)

Also, if these “other investors” are anything other than other business vehicles Erik owns I’d be shocked.

I think you underestimate how much a lot of people would like to see a lot of these areas survive.

I will also point out that Attitash + Wildcat have been continuously shitting the bed for years at this point, and I have to imagine some of the people with a large financial interest in MWV have had the thought that a future with an ever dwindling Atticat looks pretty grim if Black also goes under. Cranmore isn't going to hold up the economic base/property values there on it's own.

 

[skier0819285]

This is a bubbling issue and I think Indy is more vulnerable than people realize.

This. It’s a house of cards. They simply administer a program. They have no assets (other than Black now). The tech isn’t even good. Anyone or any group could administer this program on behalf of these ski areas. Just a weird thing to be pushing others around or publicly demeaning your partner mountains that chose to leave the program when you’re in this position.

 

[Edd]

My wife (Gunstock employee) discovered Black doesn’t accept letters from employees from other hills for free or discounted lift tickets. I appreciate that Black had to tighten the belt for some of the normal perks while it gets back on its feet.

But that particular benefit is reciprocal, meaning that if Black accepts no letters, no other hills accept theirs. That removes a perk for Black employees so they can ski free nowhere else. I hope they change that for the sake of folks that work there.

 

[Smellytele]

My wife (Gunstock employee) discovered Black doesn’t accept letters from employees from other hills for free or discounted lift tickets. I appreciate that Black had to tighten the belt for some of the normal perks while it gets back on its feet.

But that particular benefit is reciprocal, meaning that if Black accepts no letters, no other hills accept theirs. That removes a perk for Black employees so they can ski free nowhere else. I hope they change that for the sake of folks that work there.

I believe they get a much reduced Indy pass

 

[4aprice]

Entabeni moving out of Granby to New Hampshire. Don’t think it will affect Slki Granby Ranch at all just hate to see anything that might hurt the Grand County economy. Hoping not too many people lose out there.

 

[Newpylong]

Not buying it, and I’m sorry bud, but they aren’t telling the snowmakers the financial arrangements.

Again, this is by far the best outcome for Black skiers so don’t read that much into it.

There was no expectation of profit for these investors, and they exist. Again, I may just be a contractor, but I have spent enough face to face time with Erik over the past 3 years to correct information when it is wrong.