Jay Peak / Burke Sweepstakes

[Smellytele]

Who knows what is going to happen here. Jay is obviously the more attractive property. However, on the Burke side, I have to wonder if the Summer season with weddings and MTB is becoming more profitable than the winter season (Way lower costs to operate). That might make the resort attractive to an entity that is currently not involved in the ski resort game. Would a luxery hotel operation like Omni Resorts be interested adding a biking destination (that also happens to have skiing) as part of their portfolio.

How many weddings are held at Burke?

 

[thetrailboss]

How many weddings are held at Burke?

Not too many...yet.

 

[from_the_NEK]

How many weddings are held at Burke?

Quite a few. I think they have three locations (base lodge, mid-burke lodge, and outdoor weddings on Lower Dipper at the Pavilion). I'm not sure if they can host three separate weddings at a time but I know they have at least one almost every weekend this summer/early fall. However, Burke is also very close to a lot of off mountain wedding venues (Tempson Barn, Inn and Mtn View, and Pavilion in the Pines). Burke benefits a lot from its proximity to these as the nearest nice hotel, use of the large seating capacity in the restaurants for rehearsal dinners, and the ballroom(s) for receptions.

 

[AdironRider]

I doubt many will. What would keep someone from holding one down the street, at a much more VT like farm with the same views, probably for less and you get much more of a custom experience? They'll get some by being a second option. A great wedding is still probably just an average weekend during ski season revenue wise.

What do you guys think Burke is even worth? It can't be much more than Catamount or Wildcat. Id put the number at 5 million. Whoever picks it up needs to for a song for the financial bath they will take for YEARS, before its ever profitable.

 

[from_the_NEK]

Checking Burke's website, they could probably make it just a little easier to find out about weddings at the mountain. I had to back out of the site and then Google it. And then the page for it is pretty underwhelming.

 

[thetrailboss]

I doubt many will. What would keep someone from holding one down the street, at a much more VT like farm with the same views, probably for less and you get much more of a custom experience? They'll get some by being a second option. A great wedding is still probably just an average weekend during ski season revenue wise.

What do you guys think Burke is even worth? It can't be much more than Catamount or Wildcat. Id put the number at 5 million. Whoever picks it up needs to for a song for the financial bath they will take for YEARS, before its ever profitable.

Depends on if the sale includes the hotel or not.

 

[thetrailboss]

Checking Burke's website, they could probably make it just a little easier to find out about weddings at the mountain. I had to back out of the site and then Google it. And then the page for it is pretty underwhelming.

Yes. That is what happens when this guy was your manager for too long:

They do need to clean-up the website and make it easier to figure out who does what. They also need to fire up their marketing/special events department.

 

[AdironRider]

Depends on if the sale includes the hotel or not.

I put my number at 5 million including the hotel. You are asking whoever buys it to buy it on hopes it will turn a profit. It never has and has proven how many times over to fail? I think we are on round 4 or 5 now right?

That hotel needs more heads in beds than 60,000 skier visits will provide to not be a boat anchor financially.

 

[mbedle]

If they end up selling both of these resorts, including all the hotels and lodges, isn't that going to end up as a massive loss to all of the owners? If I was them, I would try to find an operator and keep the ownership. They would basically become a REIT, with a lease back to own operator. In the longterm that would be a better return on their investments. Maybe the Mueller kids would be interested in doing that???

 

[Smellytele]

If they end up selling both of these resorts, including all the hotels and lodges, isn't that going to end up as a massive loss to all of the owners? If I was them, I would try to find an operator and keep the ownership. They would basically become a REIT, with a lease back to own operator. In the longterm that would be a better return on their investments. Maybe the Mueller kids would be interested in doing that???

owners of what?

 

[BenedictGomez]

What do you guys think Burke is even worth? .... Id put the number at 5 million.

I'll take the Under.

 

[AdironRider]

Yeah, you are probably right. I put 5 mill just on the off chance that it becomes a rich guy's play thing. Which everyone at Burke really needs to hope happens, because anyone buying it to run it as a profitable business is screwed.

 

[mbedle]

owners of what?

The investors will own everything, once all of the assets are transferred from Quiros. That includes, the land, lifts, hotels, water park, lodges, and all of the other properties/houses Quiros forfeited.

 

[Smellytele]

The investors will own everything, once all of the assets are transferred from Quiros. That includes, the land, lifts, hotels, water park, lodges, and all of the other properties/houses Quiros forfeited.

Which investors? The eb-5 people?

 

[mbedle]

Which investors? The eb-5 people?

Yes, the eb-5 investors (Phases 2 - 6 will benefit from the sale of Jay Peak and Phase 8 will benefit from the sale of Burke) are the owners of all of the assets, in a sense that all of the profits from the sale of the resorts will be distributed to each of the investors. The Phase 1 investors are getting paid back the remaining balance of their "loan" to Jay Peak with money from the RJ settlement. The Phase 7 (anc-bio) investors are getting their $500,000 returned to them, also with the settlement money from RJ. What I was thinking is that there is no way these two resorts will sell for enough money to return the $500,000 to each of the Phase 2-6 and 8 investors. Maybe I got all wrong.

 

[Smellytele]

Yes, the eb-5 investors (Phases 2 - 6 will benefit from the sale of Jay Peak and Phase 8 will benefit from the sale of Burke) are the owners of all of the assets, in a sense that all of the profits from the sale of the resorts will be distributed to each of the investors. The Phase 1 investors are getting paid back the remaining balance of their "loan" to Jay Peak with money from the RJ settlement. The Phase 7 (anc-bio) investors are getting their $500,000 returned to them, also with the settlement money from RJ. What I was thinking is that there is no way these two resorts will sell for enough money to return the $500,000 to each of the Phase 2-6 and 8 investors. Maybe I got all wrong.

Did any get and keep their green cards?

 

[mbedle]

Yes, a lot of the investors have already received their green cards.

 

[FBGM]

Thanks Obama

With the new wall being built between us and number 1 enemy Canada, this should cut skier visits to these resorts

 

[sull1102]

I know you're just trolling, BUT in time Jay might see a dip in business if the current administration continues down this path they're on.

Sent from my Pixel using AlpineZone mobile app

 

[BenedictGomez]

I know you're just trolling, BUT in time Jay might see a dip in business if the current administration continues down this path they're on.

Jay Peak accepts the CAD at par, so if the CAD continues to drop against a stronger dollar it's the hill that will take it on the chin. As for the Canadian, declining oil prices are a much bigger threat as Canada as a nation is WAY too leveraged to the price of oil for its' economy.