Haystack club retrenching

[skiprob]

I must state my source first... I was listening to the begining of the Roundtable on WAMC in Albany. They interview local and regional newspaper editors/reporters about the big news their publication is covering... I did not note the person or the publication

The Haystack club just laid off their entire sales staff and the gate staff. The pink slips were handed out yesterday afternoon. About 23 of 40 some odd staff. DAMN!

The four units that are under construction have not been sold.

The official interviewed noted that the strategy for the club is being re-visited in light of the changes in the recreation and real-estate industries (paraphrased).

If anyone else heard it, could they clarify/elaborate.

 

[hrstrat57]

I must state my source first... I was listening to the begining of the Roundtable on WAMC in Albany. They interview local and regional newspaper editors/reporters about the big news their publication is covering... I did not note the person or the publication

The Haystack club just laid off their entire sales staff and the gate staff. The pink slips were handed out yesterday afternoon. About 23 of 40 some odd staff. DAMN!

The four units that are under construction have not been sold.

The official interviewed noted that the strategy for the club is being re-visited in light of the changes in the recreation and real-estate industries (paraphrased).

If anyone else heard it, could they clarify/elaborate.

Wow!

I never really thought this was a slam dunk.....making a largely intermediate hill a playground for the rich and famous....I like haystack but seriously was it ever a world class ski hill worthy of spending hundreds of thousands of dollars on...

even if you had it?

I like skiing, but I think given the choice of haystack vs a ferrari...

I would seriously consider the ferrari...

IMHO of course and irrelevant cause I am broke....

 

[drjeff]

Wow! I'll be interested to see what the buzz around the valley is this weekend. Maybe they'll rethink the entire take it private from Day 1 strategy, put out the improved ski product first, win people over, let the PUBLIC ski it. Then, roll out the real estate in a slow manner.

The concept isn't bad, they have a decent, fun (albeit slightly quirky golf course there for members) included in the mix, and the developer has already put up a couple of solid, well respected communties in the area.

I just think they might have tried to go for the "early 90's ASC" development plan (go for it all at first and pay for it later, and later, and later, and later). A more conservative roll out, while a bit frustrating for those that bought in at day 1 could lead to a much more sound product later.

 

[Brettski]

Does Haystack even have a web site anymore?

What's the vert....one of the few places I have not skied

 

[thetrailboss]

So the millionaires aren't coming? That's too bad. :roll: I bet it's because they are all out west. That is the problem with that market.

 

[thetrailboss]

...or maybe it is because they excluded too many people. Us heathens can ski. Terrible thing I know. :lol: :lol: :wink:

 

[thebigo]

Resorts in general seem to be moving more upscale but the fact is there are only so many people that can afford a half million dollar SECOND home. At some point the market has to become saturated.

Its hard to say what I would do with that kind of money but I cant imagine spending it at haystack.

Does Haystack even have a web site anymore?

What's the vert....one of the few places I have not skied

An old map and some info about the place taken from teachski.com;

http://teachski.com/brochures2/haystack/haystack2.jpg

ASC had abandoned the lower moutain but from what I understood the new owners were planning to bring it back.

 

[billski]

Can I huck it now???
(always lookin for that opportunity in adversity)

meebee I'll find some good jewelry on the lift ramps

Oh, the vulchers (at least one...) are circling....

 

[sedlmi]

http://www.dvalnews.com/news.php?news/news1.html

I heard $60K was the intro membership plus the cost of the home, and was to go up. A little much for a mostly intermediate hill.

I don't think they can take it public anytime soon, there is a no compete clause included with the sale from Mt. Snow. Not sure if and when it expires.

 

[sedlmi]

Another one:

http://www.reformer.com/headlines/ci_4990994

 

[tree_skier]

I've allways thought that the ski area would be back in Mount Snow's hands within 10 years without the real estate development.

 

[drjeff]

I've allways thought that the ski area would be back in Mount Snow's hands within 10 years without the real estate development.

The question then would be, especially in light of the all but done Somerset water deal, would MS (and ASC or who-ever might run MS in 10 years :wink want Haystack back to run??

 

[tree_skier]

I think they have realized the value that haystack gave them when they didn't have it over the past 2 seasons. Plus with the steamboat sale eliminating ASC's bank debt and with the passing of the main blocker of the interconnect plans the sommerset pipeline would give them the capacity to actually go forward with an interconnect project.


A couple of points.

The last few years Haystack actually made a profit.
It took most of the largest amount of complaints (about the race program) away from Mount Snow.
It allowed them to host far more competitions then can be hosted by just Mount Snow.
It gave a much more attractive option to locals (southern VT not just the valley)

Also a repurchase would be like the first time - at a bargain price, but the p&s agreement is pretty limiting as to what can be done with the area now.

 

[56fish]

Does Haystack even have a web site anymore?

What's the vert....one of the few places I have not skied

I did my college internship there in 1979. Actually was a nice hill. Nothing way difficult but,some runs were challenging when ungroomed & firm.:wink:

 

[maplevalleymaster]

This kind of sounds like its going right down the tubes. Sad to see since it looks like it was really doing well. Their plans were quite large and I guess the bad winter is really affecting them. Hopefully they can pull it together...