Mt Washington Resort bought

[uphillklimber]

x

 

[thetrailboss]

I think that this took place a while ago....the local ownership sold to a larger resort company, maybe it was Delaware North (they own the Balsam's).

 

[Sky]

Hey Bass...id there a "Callenge" upcoming for BW? Could be interesting to hear what (if anything) they will change.

 

[thetrailboss]

Hey Bass...id there a "Callenge" upcoming for BW? Could be interesting to hear what (if anything) they will change.

We'll see. So far it has been luke warm in terms of interest :roll:

 

[CordoroyJunkie]

Bretton Woods (and the Mount Washington Hotel) was officially sold yesterday to Celebration Associates and Crossland Inc. for a total price tag of $45 mill. CNL Income Properties will be leasing the assets from Celebration and operating the ski area, golf course and lodging.

The press release can be found at http://www.brettonwoods.com/brettonwoods/mediacenter.cfm?cat=1&subcat=110

Sounds like they are planning on expanding immensely.

“National Resort Management’s goal will be to build on the solid foundation that has been established by the current owners of Bretton Woods and the Mount Washington Hotel. We have the experience, resources and commitment to position Bretton Woods as the premier historic and year-round resort destination in New England,”

Hopefully the golf expert in charge of managing the properties knows a thing or two about skiing, and can somehow find some decent steep terrain on this relativly flat hill!

 

[Phildozer]

$45 million?

That doesn't seem like that much.

 

[deadheadskier]

$45 million?

That doesn't seem like that much.

I was gonna say, sounds like a steal to me.

You look at a comparable size NE historic hotel, the Chatham Bars Inn and it along with its private beach sold for $168 million.

Granted Cape Cod Real Estate is certainly a much higher commodity than northern New Hampshire, but for someone to acquire a comparable hotel AND a Golf Course AND New Hampshire's largest ski area AND major acreage for expansion for a quarter the price?

That seems like the steal of the century to me

 

[ski_resort_observer]

BW might be NH's largest ski area but it's no Sugarbush(included Robert Trent Jones Sr designed golf course) which was bought for 8-12m, 3 years ago. Haystack was sold last year for 5m. It's pretty well know in the industry that even tho the hotel looks amazing it has many utility plant problems and infrastructure issues that will take several million to repair. Remember it wasn't too many years ago when the hotel wasn't even open in the winter. The cost of heating that place must be obscene since it was not built for the winter originally.

Mediocre ski hill, hotel in need of millions of dollars of renovation, price seems about right to me.

Disclaimer: I am not privy to any of the transaction's details, just looking at all sides of the sale. The social and economic parts of a small ski/resort community are a passion for me. I grew up in one, what an incredible place to grow up, and have lived in and around them for pretty much my whole life.

Shot this last week

 

[Geoff]

A couple seasons ago we visited Mt. Snow, mainly because we had never been there. What a nice mountain. It seemed to resmble a flattened out Sugarloaf. Large mountain, comparble number of trails, wide long cruisers all over the place. It was a nice relaxing day of skiing. Certainly not as challenging as Sugarloaf, but what a cruiser day that was.

Personally, Mt Snow is my favorite place in the east to hit on a midweek powder day. Armed with heli-skiing skis, you can float on that intermediate cruising terrain all day and never touch bottom. Their customer base pretty much sticks to groomers so it doesn't track out quickly. At most mountains, the Powder Nazis are out in full force at first chair and you'll be touching down on the ice bumps underneath the fluff on the steeper terrain by 10:00.

 

[thetrailboss]

Bretton Woods (and the Mount Washington Hotel) was officially sold yesterday to Celebration Associates and Crossland Inc. for a total price tag of $45 mill. CNL Income Properties will be leasing the assets from Celebration and operating the ski area, golf course and lodging.

The press release can be found at http://www.brettonwoods.com/brettonwoods/mediacenter.cfm?cat=1&subcat=110

Sounds like they are planning on expanding immensely.

“National Resort Management’s goal will be to build on the solid foundation that has been established by the current owners of Bretton Woods and the Mount Washington Hotel. We have the experience, resources and commitment to position Bretton Woods as the premier historic and year-round resort destination in New England,”

Hopefully the golf expert in charge of managing the properties knows a thing or two about skiing, and can somehow find some decent steep terrain on this relativly flat hill!

Welcome to the boards, CordoroyJunkie! I see you're in Rutland. I will probably see you at Killington-Pico this season.

 

[ski_resort_observer]

Welcome to the boards, CordoroyJunkie! I see you're in Rutland. I will probably see you at Killington-Pico this season.

Hi CordoroyJunkie...the wife was born and raised in Rut-Vegas. I grew up nearby. Rich skiing tradition and ski racing history out of that little city. Suzy Chapstick...gotta love it. The Sirloin Saloon for steak, City Diner for breakfast, Gilley's for sandwiches....yum!

Only Walmart in a downtown location in the country....I think?.

Welcome!

 

[CordoroyJunkie]

not origninally from Rut-vegas, from the Cape, and am back home for my last summer before I make the final move. Spent two seasons/school years in Rut-vegas, and come August will be there year round.... can't wait!:-D

 

[CordoroyJunkie]

Trailboss-

Deffinately see you at Killington/Pico, anybody stay at the Grand, or any lodging through Killington will probably see/talk to me too... I'll be the one answering the phone call when you lock yourself outa your unit!!!