LONGBOARDR
Active member
Look, Jay and Burke are poor barometers of what the ski industry will do. Sure, they are big and with Jay, get and still have a ton of snow. What everyone is forgetting is that they are both in Federal Receivership. The Receivers number 1 goal is preserve capital and sale price of the resorts. If they saw bookings fall off a cliff, and non pass ticket sales go with it, the receiver would really have no choice but to make this call. As to your loyal base, of course you blame it as much as possible in public on Covid-19. But I would bet this is a sale price economic move more than anything else, and why we can't infer anything on the rest of the industry from these 2 resort's moves.
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Respectfully, it doesn't appear that way with Vail and Alterra following Jay's lead today.
While Michael Goldberg is the receiver, Steve W is making these calls. jay was fully booked out through March with Canadian holiday guests. Now they are offering full refunds or rescheduling into 2021, Steve's playing the long game and doing an excellent job running the resort.
And if it were a naked economic move, they wouldn't be covering the pay differential of laid off folks and waiving rent of onsite workers, and more. lets see what the BIG corporates do for their employees.
AND THAT'S WHY WE LOVE JAYPEAK