Jimney Peak Sold!

[Hawkshot99]

So today Jimney Peak in MA. was sold. The sale became official at 4:05pm. It was sold to the same company that owns Okemo, and several other resorts(Cant think of the companies name).
The property is now rented and managed by Jimney Peak LLC. Nothing about the mountain will be changing however.
Tomorrow it will be announced, and I will find the article in the Berkshire Eagle and post it here.

 

[Hawkshot99]

http://www.berkshireeagle.com/ci_11570640

 

[Glenn]

Wow! That's pretty big news.

 

[SIKSKIER]

The Muellers.

 

[bvibert]

The Muellers.

Nope, CNL owns Okemo, the Muellers run it. They entered into the same kind of deal with CNL that Jiminy just did in December.

http://www.firsttracksonline.com/Ne...-Okemo-Sunapee-and-Crested-Butte-Ski-Resorts/

 

[Phildozer]

CNL - I just don't get it.

Why Jimney Peak? Nice place but...why?

 

[Hawkshot99]

CNL - I just don't get it.

Why Jimney Peak? Nice place but...why?

Because they make some good money here....

 

[catskills]

The new business model is buy out the ski area next door, cash cow it, let it get old with no new investments, sell it to condo developers with stipulation no public skiing ever again, value of your other resort goes up, and sell other resort. Cool everybody wins right. Oh wait less ski acres per person means crowded slopes and higher risk of being injured.

 

[that guy]

The new business model is buy out the ski area next door, cash cow it, let it get old with no new investments, sell it to condo developers with stipulation no public skiing ever again, value of your other resort goes up, and sell other resort. Cool everybody wins right. Oh wait less ski acres per person means crowded slopes and higher risk of being injured.

now WHO would do a thing like that??

 

[Hawkshot99]

The new business model is buy out the ski area next door, cash cow it, let it get old with no new investments, sell it to condo developers with stipulation no public skiing ever again, value of your other resort goes up, and sell other resort. Cool everybody wins right. Oh wait less ski acres per person means crowded slopes and higher risk of being injured.

There is still a ski area at Jimney.......

 

[Phildozer]

Jimney is a swell ski area and all but what's the play here?

Condos? Unlikely.
Retail base area? Unlikely.
Huge profits? In a Massachusetts non-destination ski area? Maybe... but not likely.

Given the crunch in the economy, it just doesn't make sense.

 

[Hawkshot99]

Jimney is a swell ski area and all but what's the play here?
Condos? Unlikely.

You would be amazed at all of the condos here and what they sell for

Retail base area? Unlikely.

Not much of this here. There are 3 retail shops on property.

Huge profits? In a Massachusetts non-destination ski area? Maybe... but not likely.

Given the crunch in the economy, it just doesn't make sense.

This has been a record setting year for the mountain in all aspects. They make some nice money here. And don't tell alot of the people that come here that it is not a destination resort.