Haystack / Hermitage news

[sull1102]

I can picture the state being silly enough to work a deal with Hermitage to open next weekend with a member or collection of making the necessary payment to open next weekend. Realistically they probably intended to close for the season on April 1st. Some of these members have quite a bit of pride about the place and want their private club open, not in the news as being shut down. Hard to invite friends or business partners to a place they think is shut down.

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[Pez]

Let's not sell mount snow. I want to ski there.


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[Vaughn]

Per that article, the bank wants to foreclose on the Hermitage Inn, Snow Goose Inn, Horizon Inn, the Chamonix Townhouse Village and the Hermitage golf course.

I had assumed most members were either locals or had property at the mountain - why so much hotel room investment? This is the part that seems like could be sold off to focus on the core business. The golf course makes sense as part of the overall club though.

 

[drjeff]

Per that article, the bank wants to foreclose on the Hermitage Inn, Snow Goose Inn, Horizon Inn, the Chamonix Townhouse Village and the Hermitage golf course.

I had assumed most members were either locals or had property at the mountain - why so much hotel room investment? This is the part that seems like could be sold off to focus on the core business. The golf course makes sense as part of the overall club though.

The initial slew of buying up local hotels and Inns was supposed to be for a combination of seasonal employee housing and weekend member rental properties while their planned base area hotel and/or private on property homes/townhomes were built. Multiple Inn/Hotel owners took Jim Barnes up on his offers to buy them out, for what was rumored to be somewhat above true market value, many of the transactions were closed on a few years ago when the economy wasn't where it is today and when the Valley as a whole was still much closer to the devastating effects that Irene had.

The golf course, while in my opinion is a more fun to play/interesting course than the Mount Snow golf club, has never been even close to what would constitute a "busy" golf course. They have been operating it as "members only on Friday-Sunday" and open to the public and members (with members being able to book tee times a few days before the general public) Monday - Thursday. The reality is though while it's nice for the golfing community in the area to have 2 18 holes courses within a couple of miles of each other, the reality is that probably 95% of the time, there the demand there for only 1, and many Hermitage Members, who are golfers, likely belong to far nicer courses by their primary residence than the Hermitage Golf Club currently is

 

[sull1102]

At least one of the hotels was being looked at as a timeshare type membership and plans are fully drawn up, shovel ready as they say with a permit or two still needed. The plan was to sell these rooms and then build another hotel where the ski school tent has been up at the clubhouse. They have started some basic work on some townhouses matching the already built ones all behind the clubhouse headed downhill. These were for future members to bring in more fees and keep the charade going.

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[fullsend22]

Anyone want to go poach all the fresh Pow that is on the mountain now that they are closed down?

 

[FBGM]

Will the laid off employees have to resort to the only profitable job in the area...selling Heroin.

But for realz dentist jeff, besides the fact you hold peckers with the rich folk there, did ya really think a private ski area in that location was gonna meal was it?? This was bound to happen.

 

[skiur]

Will the laid off employees have to resort to the only profitable job in the area...selling Heroin.

But for realz dentist jeff, besides the fact you hold peckers with the rich folk there, did ya really think a private ski area in that location was gonna meal was it?? This was bound to happen.

Are you like 12? I hope so cause if your an adult than there is no hope for you.

 

[Newpylong]

Will the laid off employees have to resort to the only profitable job in the area...selling Heroin.

But for realz dentist jeff, besides the fact you hold peckers with the rich folk there, did ya really think a private ski area in that location was gonna meal was it?? This was bound to happen.

Not really. If they didn't put in 2 quads, 1 6 pack bubble, and 100% snowmaking in in the first few years it in all likelihood could have worked. They certainly weren't coming up shy selling memberships.

 

[mister moose]

Not really. If they didn't put in 2 quads, 1 6 pack bubble, and 100% snowmaking in in the first few years it in all likelihood could have worked. They certainly weren't coming up shy selling memberships.

Ayuh. Even in private clubs, capital allocation counts.

 

[drjeff]

Not really. If they didn't put in 2 quads, 1 6 pack bubble, and 100% snowmaking in in the first few years it in all likelihood could have worked. They certainly weren't coming up shy selling memberships.

They most certainly didn't expand to 100% snowmaking.... Unless of course they buried a bunch of pipe and disguised the turrents as tree trunks when I was there mid Feb for a kids race this season...

Even a few of my member friends said that their biggest issue was their annual fees were too low for what they got, and likely so to drive real estate sales....

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[sull1102]

Post on Instagram this morning suggest the club will be open this weekend. "It's going to be a beautiful weekend! Enjoy! #youbelonghere"

Interesting...

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[Newpylong]

They most certainly didn't expand to 100% snowmaking.... Unless of course they buried a bunch of pipe and disguised the turrents as tree trunks when I was there mid Feb for a kids race this season...

Even a few of my member friends said that their biggest issue was their annual fees were too low for what they got, and likely so to drive real estate sales....

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Take it from someone who used to ski Haystack quite a bit when they were owned by MS (I lived less than an hour away) the snowmaking capabilities now vs when Haystack closed are incomparable. All the Techno Alpins, Baby Rats, HKDs, were a huge investment. I imagine they will be some of the first items liquidated to pay creditors. They may not have expanded the actual foot print (outside of the trail down to the Inn and the Lower Mountain) but the inventory on current coverage is the most expensive factor. 4 of those TF40's new cost the same as replacing a mile of pipe alone. Regardless the only real significant terrain missing snow making is a couple runs over on Witches.

I imagine the actual usage began to decrease this year as the coffers dried up.

 

[jaytrem]

TRegardless the only real significant terrain missing snow making is a couple runs over on Witches.

Mt Snow actually installed snowmaking on one of the expert trails a few years before they closed. That left only one expert trail without it. I can't remember if the beginner or intermediate had snowmaking. For some reason I'm thinking the beginner didn't, but could be wrong.

 

[sull1102]

Beginner does not, but the intermediate run down does have it.

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[drjeff]

http://www.dvalnews.com/view/full_s...er-making-tax-payment?instance=home_news_left

And the lights apparently are back on again for the weekend..... From the Deerfield Valley News

 

[cdskier]

http://www.dvalnews.com/view/full_s...er-making-tax-payment?instance=home_news_left

And the lights apparently are back on again for the weekend..... From the Deerfield Valley News

The weeklong saga unfolded on Thursday, March 15, when the club was shut down by the tax department after it failed to meet the terms of a payment agreement for unpaid rooms, meals, sales, and use taxes.

Yikes...those are taxes no business should ever be behind on. They collect that money as part of the sale/transaction but it is not yours to use elsewhere to cover some other shortfalls in cash. You're merely collecting it from your customers on behalf of the state.

 

[Jully]

Yikes...those are taxes no business should ever be behind on. They collect that money as part of the sale/transaction but it is not yours to use elsewhere to cover some other shortfalls in cash. You're merely collecting it from your customers on behalf of the state.

HAHAHAHA you're absolutely right. Wtf, so the club was just grabbing an extra 6.25% on all list prices or whatever the sales tax is in VT. That is rich.

 

[Smellytele]

Reading the article it is hard to tell what they owe. 16.5m to the bank, 9.1m to others and 819k in taxes. Maybe

 

[Euler]

Yikes...those are taxes no business should ever be behind on. They collect that money as part of the sale/transaction but it is not yours to use elsewhere to cover some other shortfalls in cash. You're merely collecting it from your customers on behalf of the state.

It's incomprehensible to me why this business is allowed to continue to operate. White collar criminals belong in jail.