Haystack / Hermitage news

[JimG.]

It's definitely true!

Fools and their money are easily parted.

 

[MEtoVTSkier]

It's definitely true!

Fools and their money are easily parted.

Exactly why there isn't any toilet paper!

:lol::lol::lol:

 

[Glenn]

Read this in the actual newspaper this morning; $8,060,000 with about 150 members involved. So roughly $50k+ per individual for an investment. The article indicated they would sell off some of the assets. I'm going to guess that's a few of the Inns in Dover and Willmington that were part of the deal. Sure, the timing isn't great. But at least it's a group of people who have some ties/vested interest in the local community.

 

[thetrailboss]

Read this in the actual newspaper this morning; $8,060,000 with about 150 members involved. So roughly $50k+ per individual for an investment. The article indicated they would sell off some of the assets. I'm going to guess that's a few of the Inns in Dover and Willmington that were part of the deal. Sure, the timing isn't great. But at least it's a group of people who have some ties/vested interest in the local community.

If you own one of those houses, it’s a small price to pay to maintain the value of your investment.


Sent from my iPhone using AlpineZone

 

[tumbler]

Anyone know if past management has stayed around? Looking for new management?

You looking for a job?

 

[drjeff]

Read this in the actual newspaper this morning; $8,060,000 with about 150 members involved. So roughly $50k+ per individual for an investment. The article indicated they would sell off some of the assets. I'm going to guess that's a few of the Inns in Dover and Willmington that were part of the deal. Sure, the timing isn't great. But at least it's a group of people who have some ties/vested interest in the local community.

A few of the inns that were originally bought up 5 or so years ago have already had their ownership transferred as part of a settlement, to select members who heavily invested in the club as it was starting up.

For example, one of the inns on Tannery Road (I forgot what it's name was when it was in operation) was awarded as part of a settlement to one of the members (who wouldn't surprise me if he is one of the members who spearheaded the organization of the group that won the bidding process), around a year or so ago. He is now leasing that Inn to Mount Snow Academy, who is using it for boarding of their younger age group live in athlete's (or atleast they were boarding them there up until about 10 days ago when the order to send everyone home was put out by the Academy)

So while there's certainly still a bunch of properties as part of the deal, it's not quite as many as it was at times in the past.

Sent from my Moto Z (2) using AlpineZone mobile app

 

[Glenn]

A few of the inns that were originally bought up 5 or so years ago have already had their ownership transferred as part of a settlement, to select members who heavily invested in the club as it was starting up.

For example, one of the inns on Tannery Road (I forgot what it's name was when it was in operation) was awarded as part of a settlement to one of the members (who wouldn't surprise me if he is one of the members who spearheaded the organization of the group that won the bidding process), around a year or so ago. He is now leasing that Inn to Mount Snow Academy, who is using it for boarding of their younger age group live in athlete's (or atleast they were boarding them there up until about 10 days ago when the order to send everyone home was put out by the Academy)

So while there's certainly still a bunch of properties as part of the deal, it's not quite as many as it was at times in the past.

Sent from my Moto Z (2) using AlpineZone mobile app

Thanks Jeff! A few years back, it seemed like most of the Inns had some type of ties to the Hermitage.

 

[FBGM]

You looking for a job?

Just assuming all old management is out the door - time for some new blood with a new start. I’ve always liked the private ski area deal

 

[icecoast1]

Just assuming all old management is out the door - time for some new blood with a new start. I’ve always liked the private ski area deal

Nobody was left as it was with the reciever running things. Thankfully the judge stopped any chance of Barnes taking back control

 

[sull1102]

So the new owners have no debt beyond the purchase price and have no one hunting them down for money?


Sent from my iPhone using AlpineZone

 

[icecoast1]

So the new owners have no debt beyond the purchase price and have no one hunting them down for money?


Sent from my iPhone using AlpineZone

Yes but many that Barnes owed money to probably wont see any money out of this deal so it will be interesting to see if they are willing to wipe the slate clean and work with new ownership

 

[VTKilarney]

Yes but many that Barnes owed money to probably wont see any money out of this deal so it will be interesting to see if they are willing to wipe the slate clean and work with new ownership

I don’t see any offering more money, so it’s not as if they have a choice.

 

[Method9455]

Yes but many that Barnes owed money to probably wont see any money out of this deal so it will be interesting to see if they are willing to wipe the slate clean and work with new ownership

That's pretty much how bankruptcy works. Several of family members own small businesses and they have been screwed by large customers going bankrupt in the past, unless you are truly the only vendor for a critical service in the area you have little if any leverage.

 

[sull1102]

It's a pretty good deal for a turn key operation with all new infrastructure. Upfront they'll need a new snow gun fleet and I think a couple groomers as well, but long term the lifts are all good for a decade and then some and the base lodge is stunning. Also helps if the investors are just looking to have the mountain open and not much else.

 

[tumbler]

It's a pretty good deal for a turn key operation with all new infrastructure. Upfront they'll need a new snow gun fleet and I think a couple groomers as well, but long term the lifts are all good for a decade and then some and the base lodge is stunning. Also helps if the investors are just looking to have the mountain open and not much else.

I would think they would be looking to sub out the mountain operations so they don't have to be dealing with all the decisions, etc. Just negotiate a good deal with Boyne or heck even Vail to run the place and just write a check. With the way Vail is going they might be happy for more income.

 

[drjeff]

And the group of prior members that prevailed in the auction closed on the deal today..

https://www.dvalnews.com/news/club-members-close-hermitage-deal

 

[Kevin Schultz]

This article mentions that Berkshire East folks were contracted to help run ops at Haystack, at least for the time being.

https://www.reformer.com/stories/hermitage-sale-closes-members-look-ahead,604585

 

[sull1102]

Fairly big news, the Hayfever lift is being removed and sent down to Bousquet. I’m surprised by this seeing as you now don’t have direct access to that mid mountain house and there’s no fixed grip out of the base area.


Sent from my iPhone using AlpineZone

 

[icecoast1]

Fairly big news, the Hayfever lift is being removed and sent down to Bousquet. I’m surprised by this seeing as you now don’t have direct access to that mid mountain house and there’s no fixed grip out of the base area.


Sent from my iPhone using AlpineZone

That's not really a huge loss, after the new barnstormer lift went up, that chair ran about as much as the old black chair at magic, virtually never. That mid mountain area is easily accessible from the summit, if they even decide to operate it this winter. Not to mention, it looks like the lift was going to need a lot of work, probably a wise decision to unload it given their cash flow and operating plan

 

[Cobbold]

That's not really a huge loss, after the new barnstormer lift went up, that chair ran about as much as the old black chair at magic, virtually never. That mid mountain area is easily accessible from the summit, if they even decide to operate it this winter. Not to mention, it looks like the lift was going to need a lot of work, probably a wise decision to unload it given their cash flow and operating plan

Why does the Hayfever lift need major work?

It’s interesting to see how the “new” Bousquet does not seem press savvy never any updates about what they are doing, the green lift is down, no news, the new lift lift line is staked out, no news, chairs are off the yellow chair, no news. Would think they would post these developments on their website but nada