Who, Powdr?
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Jay Peak bombshell
- Thread starter VTKilarney
- Start date
Who, Powdr?
mbedle
Well-known member
Yes Powdr, they just bought SilverStar mountain resort in Canada. The 180 million is in reference to the sale of Park City and what, if any, of that money is left is anybody's guess.
Jcb890
Active member
Is Jay Peak 'worth' buying from an investment/ROI standpoint? Location for people coming from Montreal is good, but that's about it.
I tried to look to see how many visits they get, but couldn't find it easily doing a google search.
I tried to look to see how many visits they get, but couldn't find it easily doing a google search.
Probably not much. They are investing a lot into improvements at Killington, Copper, and building a new Woodward in Park City.
mbedle
Well-known member
True - I wasn't even thinking about all of those projects.
John still has a lot of $$$ at his disposal now since Ian died.
John is also not running POWDR, but instead running my beloved Snowbird. So far he has not screwed up anything too badly. Yet. Although they now have $329.00 knit sweaters for sale in Wings that nobody who visits Snowbird will buy. :blink:
VTKilarney
Well-known member
For the right price. They say that they turn a profit.
Jcb890
Active member
Well yeah, anything is worth it for the right price. I wonder how much profit they turn and how many skier/rider visits they get.
I also wonder what type of traffic they get for the hockey rinks, supposedly that is a big/popular draw.
The latest....
https://vtdigger.org/2020/03/03/jay-voters-pass-budget-items-await-word-on-jay-peak-sale/
Second round of bids coming in. Alterra was in the first round; no comment as to if they are in the second.
https://vtdigger.org/2020/03/03/jay-voters-pass-budget-items-await-word-on-jay-peak-sale/
Second round of bids coming in. Alterra was in the first round; no comment as to if they are in the second.
BenedictGomez
Well-known member
You could basically copy & paste last years article, just with a little less information.
Yep. Exactly.
slatham
Well-known member
Smellytele
Well-known member
Like it was moving along before this? Just an excuse
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VTKilarney
Well-known member
Why would this delay the sale - other than purchasers backing out?
You answered your own question. No one is buying ski areas during a pandemic...(unless they were available dirt cheap, but that isn't going to be Jay).
fbrissette
Well-known member
Worst possible timing for Jay Peak. The job of the General Receiver is to get as much money as possible from the sale, and Jay Peak is very likely worth a lot less than before with all major players struggling to various extent. Anyhow, as was discussed before, Jay Peak has been managed very well since being in receivership so as a skier, additional delays do not worry me.
As a Jay Peak homeowner, I have no clue what impact the sale will eventually have on my resale value, but we bought in as a way of life and not to make money, so whatever will be will be. Right now, I just want the border to reopen so I can get my mountain bike back,
BenedictGomez
Well-known member
Correct, but it's a smart excuse; sort of like setting up a plausible deniability for sales failure for yourself. This Goldberg guy is nobody's fool.
That said, I dont think people have the wool pulled over their eyes, having to admit via court documents that not a single offer was formally submitted is pretty telling.
BenedictGomez
Well-known member
Beyond asinine.
Vermont has had 1 (read: one) COVID19 death among 623,000 citizens in the last 2 weeks, but sure, let's destroy the entire economy.
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That's the MO. Hopefully they get off the bandwagon before they fully become the Northeast's version of Southern Italy. I have my doubts.
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