Haystack / Hermitage news

[Smellytele]

Well, if the bank is looking at a serious haircut on this debt a new ownership group can probably effectively get the same assets as a discounted rate at the end of the day. Barnes and his team get turfed out and the core ski mountain club can relaunch. Sucks for the bank and the other lenders but that's the banking business, right?

They owe money to the lift manufacturer as well or so i thought I read somewhere so they could lose the lift.

 

[drjeff]

They owe money to the lift manufacturer as well or so i thought I read somewhere so they could lose the lift.

That rumor was actually false. Both Sky Trac and Dopplymayr apparently were paid in full. The outstanding debts are apparently related to construction of their lodge and food and beverage suppliers for the most part

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[deadheadskier]

Seems to me that whatever change in business plan is employed, there should be some component of public access for additional revenue streams. Maybe make available 200 tickets a day at a high cost via online reservations only. Lets go with $150. That would bring in 60K a weekend plus F&B on top. That would go along ways towards covering operating costs while still maintaining a private type experience.

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[Vaughn]

Seems to me that whatever change in business plan is employed, there should be some component of public access for additional revenue streams. Maybe make available 200 tickets a day at a high cost via online reservations only. Lets go with $150. That would bring in 60K a weekend plus F&B on top. That would go along ways towards covering operating costs while still maintaining a private type experience.

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I liked Haystack when I was a kid because it was a fun mountain to bomb around on but I think people would have a hard time paying more than a top level mountain ticket for that terrain and vertical. I'd rather spend $150 to ski Magic than Haystack for example assuming similar crowds. However I am considering this from the perspective of someone who can get to places like WV, Loon, Cannon, etc... in 2 hours or so. If I was a NYC/CT skier, I think the value equation would be very different.

 

[deadheadskier]

Right. I'm thinking of people who are for the lack of a better word "stuck" skiing Southern VT and are high earners. Magic would be my choice due to terrain and uncrowded slopes. But for those who seek out mellow terrain like Snow, Stratton and Okemo, being able to ditch the crowds while having the same commute for an extra $50? I bet there's a market for that

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[sull1102]

Mount Snow put it into the deed that Haystack cannot be a public ski area. However, they are allowed and do sell day tickets to locals, but you have to live in Wilmington or Dover.

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[skimagic]

I liked Haystack when I was a kid because it was a fun mountain to bomb around on but I think people would have a hard time paying more than a top level mountain ticket for that terrain and vertical. I'd rather spend $150 to ski Magic than Haystack for example assuming similar crowds. However I am considering this from the perspective of someone who can get to places like WV, Loon, Cannon, etc... in 2 hours or so. If I was a NYC/CT skier, I think the value equation would be very different.

Not a bad idea. As for crowds, haystack has a far far superior lift system so one can rack up dozens of runs.

 

[jerseydaze]

Mount Snow put it into the deed that Haystack cannot be a public ski area. However, they are allowed and do sell day tickets to locals, but you have to live in Wilmington or Dover.

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Does the public ski area clause have a expiration date?

 

[deadheadskier]

Mount Snow put it into the deed that Haystack cannot be a public ski area. However, they are allowed and do sell day tickets to locals, but you have to live in Wilmington or Dover.

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I would think an arrangement could be worked out for limited public use beyond local residents.

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[Glenn]

The EB-5 program is a head scratcher to me. Invest 6 figures in a project that creates X number of jobs and get a Green Card. Seems like buying your citizenship to me. I have nothing against people who have the means to do this. It just seemed like a very odd government sponsored program.

 

[sull1102]

Hermitage does not use EB-5 as far as I know. They do use international seasonal whole like every other mountain in the area.

The public ski area clause, as I read it on here years back and other places is a part of the deed. It wasn't even a party of the sale where only Barnes had to oblige, from what I understand it starts with the land and people seemed to think it could never be reversed.

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[Euler]

Of course not. Mods should kick you off because you're misinformed and obnoxious.

He's not mis-informed. Only obnoxious. EB-5 totally is a go fund me program sponsored by the US gov in which the token reward, rather than a tote bag or a coffee mug, is a green card for those wealthy enough to cough up the $$

 

[mister moose]

The public ski area clause, as I read it on here years back and other places is a part of the deed. It wasn't even a party of the sale where only Barnes had to oblige, from what I understand it starts with the land and people seemed to think it could never be reversed.

Mount Snow maketh, and Mount Snow may taketh away.

 

[JimG.]

It just seemed like a very odd government sponsored program.

Really?

Lately this seems like exactly the type of programs our gov't propagates. Anything to generate $.

 

[MEtoVTSkier]

Seems to me that whatever change in business plan is employed, there should be some component of public access for additional revenue streams. Maybe make available 200 tickets a day at a high cost via online reservations only. Lets go with $150. That would bring in 60K a weekend plus F&B on top. That would go along ways towards covering operating costs while still maintaining a private type experience.

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While I agree with you, wasn't it deeded that they could NOT be open to the public other than offering a small amount of day tickets to the residents of the local area?

 

[MEtoVTSkier]

How did this turn into my dick is bigger than your dick (my mtn is better than your mtn) thread? We have plenty of those involving Mt Snow already.

Wait, What?... Yours is bigger??? Says who?! :-D:-D:-D

 

[sull1102]

Hermitage sent out a press release today saying they had a successful season and are moving into off-season ops. They'll be closing with 100% of the upper mountain and Witches open, but they didn't run the lower mountain lifts so those trails were closed off. Surprised they aren't going to be open for Easter.

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[Jully]

Does the public ski area clause have a expiration date?

I thought I read somewhere that it does, or that it could somehow be subverted. Forget the details though...

 

[Jully]

The EB-5 program is a head scratcher to me. Invest 6 figures in a project that creates X number of jobs and get a Green Card. Seems like buying your citizenship to me. I have nothing against people who have the means to do this. It just seemed like a very odd government sponsored program.

Really?

Lately this seems like exactly the type of programs our gov't propagates. Anything to generate $.

Most governments have something nearly identical. Why would a country not want a wealthy immigrant willing to invest a boatload of money? I know of a bunch of other countries that eliminate the "investment" piece of it. For a lesser value you just buy residency. Seems like a great deal for all involved, IMO. Eb5 has a lot wrong with it, but if you eliminated the investment piece of it, it would get a lot simpler (though not totally fixed).

 

[icecoast1]

Hermitage sent out a press release today saying they had a successful season and are moving into off-season ops. They'll be closing with 100% of the upper mountain and Witches open, but they didn't run the lower mountain lifts so those trails were closed off. Surprised they aren't going to be open for Easter.

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He doesn't have a choice, he has no money to operate.