RESORT FOR SALE: Special Subprime Opportunity!

[hardline]

Lemme guess. Intrawest :roll:?

no don't know anybody personally at the executive level at intrawest. i just mentioned it to the them a few days ago when we where out having some drinks. they said they would do some looking into it. beyond that i couldn't really say anymore but the vultures are circling. it will be really interesting to see who owns it come the end of the season.

 

[ski_resort_observer]

Isn't there some connection between Rock Resorts and Vail Resorts?

Vail Resorts bought Rock Resorts a few years ago. Interestingly they now own several icon properties at both Teton Village and in Jackson Hole which were owned by Rock Resorts. John D. Rockefeller sneakily bought the property from Jackson Hole ranchers for Grand Teton NP. He donated it to the Feds and when Congress wouldn't spend the time to accept it he almost backed out. There has always been a big Rockefeller presence in JH.

Intrawest was bought out by Fortress, a private equity firm about 5 years ago. The company still exists but Fortress pulls the strings much like CNL pulls the strings at the Loaf and SR, although CNL is a resort property company.

AIG has to sell off assets, it's part of the deal they made when the Feds gave them the big loan. Several of the big banks involved with the bailout have sold assets worth as little as 300m already but as mentioned selling a resort property like Stowe in mid developement in this environment will probably only be sold if it's a firesale price like a few of the resorts ASC sold.

 

[GrilledSteezeSandwich]

Why just LIVE there when you can OWN the joint? Considering all the time you are on AZ, you MUST be loaded! Come on, pony up...call Trailboss Realty....

:wink:

I don't want all the responsibility that goes with owning and operating a ski resort..but if I owned Stowe..I'd install one of those Sauna gondola cabins and be the first person to hot box it..:idea: and 7:00AM openings 7 days a week..

 

[hardline]

Vail Resorts bought Rock Resorts a few years ago. Interestingly they now own several icon properties at both Teton Village and in Jackson Hole.

Intrawest was bought out by Fortress, a private equity firm about 5 years ago. The company still exists but Fortress pulls the strings much like CNL pulls the strings at the Loaf and SR, although CNL is a resort property company.

AIG has to sell off assets, it's part of the deal they made when the Feds gave them the big loan. Several of the big banks involved with the bailout have sold assets worth as little as 300m but as mentioned selling a resort property like Stowe in mid developement in this environment will probably only be sold if it's a firesale price like a few of the resorts ASC sold.

snowboarding/skiing came up durring our dinner and as a joke i said stowe would have to be sold off and with out batting an eyelash they mumbled something to each other and made a phone call. they said they would look into it. these are some of the richest people i know of in the world. in the top 200 for sure. so im sure they will look into it. i just thought it was sorta funny given the thread.

 

[ski_resort_observer]

snowboarding/skiing came up durring our dinner and as a joke i said stowe would have to be sold off and with out batting an eyelash they mumbled something to each other and made a phone call. they said they would look into it. these are some of the richest people i know of in the world. in the top 200 for sure. so im sure they will look into it. i just thought it was sorta funny given the thread.

Well, based on what ASC sold Sugarbush for it's not as crazy as you think. To say that Sugarbush came out better for it would be the Mt Everest of understatements.

 

[hardline]

Well, based on what ASC sold Sugarbush for it's not as crazy as you think. To say that Sugarbush came out better for it would be the Mt Everest of understatements.

true. its going be very interesting to see what happens. what did asc sell booger for?

I don't want all the responsibility that goes with owning and operating a ski resort..but if I owned Stowe..I'd install one of those Sauna gondola cabins and be the first person to hot box it..:idea: and 7:00AM openings 7 days a week..

these would be the type of people i could convince to do something like that. i would love to find a way to attach myself to the project and get the hell out of nyc. on some level that why i probally mentioned it in the first place. we do a lot of work for these guys so we would get some work out of it.

 

[ERJ-145CA]

true. its going be very interesting to see what happens. what did asc sell booger for?




these would be the type of people i could convince to do something like that. i would love to find a way to attach myself to the project and get the hell out of nyc. on some level that why i probally mentioned it in the first place. we do a lot of work for these guys so we would get some work out of it.

Wouldn't you miss The Creek? C'mon, Stowe just doesn't compare.

 

[hardline]

Wouldn't you miss The Creek? C'mon, Stowe just doesn't compare.

its not a matter of if but a matter of when i move back up. i would really miss MC all that much but i would miss the people that i rode with there. especially the kids.

here something funny i thought of the other day. the vegitation at MC is very simillar to lower mansfield. so MC always reminds me of stowe.

 

[deadheadskier]

Lemme guess. Intrawest :roll:?

I'm sure there's some interest there. I know for awhile, Intrawest's Real Estate division called Playground was in charge of selling the new Real Estate at Spruce.

 

[ski_resort_observer]

Here are some details on how the Stowe real estate developement is set up.
http://www.aiginvestments.com/NR/rd...0D61/0/072705_AIG_Global20RE_Stowe20Lodge.pdf

Intrawest is just as likely a candidate as anyone else. It is halfway(sort of) bewteen Stratton and Tremblant.

Who else has noticed that there has been few resort ownership changes this past year compared to many changes the two previous years? I can only think of Jay Peak, which was down in-house. Any others?

 

[hardline]

Here are some details on how the Stowe real estate developement is set up.
http://www.aiginvestments.com/NR/rd...0D61/0/072705_AIG_Global20RE_Stowe20Lodge.pdf

Intrawest is just as likely a candidate as anyone else. It is halfway(sort of) bewteen Stratton and Tremblant.

Who else has noticed that there has been few resort ownership changes this past year compared to many changes the two previous years? I can only think of Jay Peak, which was down in-house. Any others?

most of the resort ownership changes that took place two years ago where because of ASC. stowe is so interesting because they are just finishing the buildou and that they have always been a profitable unit of AIG.

 

[ski_resort_observer]

most of the resort ownership changes that took place two years ago where because of ASC. .

Not really, there also was Ragged, Loon, Bretton Woods, Burke, Waterville Valley, Tenney, Bolton and a few others I can't remember. Add the ASC thing which accounted for maybe another six or seven. . Remember it's not just the ASC resorts themselves. Powdr sold Alpine Meadows to help fund the purchase of Kmart, for example.

 

[thetrailboss]

Maybe Les Otten will try to roll the dice again....highly doubt he would be successful...

 

[wa-loaf]

Maybe Les Otten will try to roll the dice again....highly doubt he would be successful...

Isn't he busy pushing pellet stoves?

 

[thetrailboss]

Isn't he busy pushing pellet stoves?

Last I knew he was peddling golf junk....

 

[ski_resort_observer]

Isn't he busy pushing pellet stoves?

Yup, after he formed the Cook/Otten partnership to purchase the Loaf and SR. They thought it was such a done deal that Cook met with local officials to give them the heads-up of their basic plans The sale to Boyne/CNL took everyone by surprise, even them.

Ironically there have been articles about Otten's early success in the pellet stove business I would assume he is one of the few people not happy about the crude price trend.

Course, neither are the gas station owners. For the first time in years the Crack Spread(Cit - this should be in the tp thread lol) is negetive meaning depending on the gasoline taxes many gas stations are not making any profits. Crack Spread is the diference between the price of crude and the wholesale price of gasoline.

 

[hardline]

Yup, after he formed the Cook/Otten partnership to purchase the Loaf and SR. They thought it was such a done deal that Cook met with local officials to give them the heads-up of their basic plans The sale to Boyne/CNL took everyone by surprise, even them.

Ironically there have been articles about Otten's early success in the pellet stove business I would assume he is one of the few people not happy about the crude price trend.

Course, neither are the gas station owners. For the first time in years the Crack Spread(Cit - this should be in the tp thread lol) is negetive meaning depending on the gasoline taxes many gas stations are not making any profits. Crack Spread is the diference between the price of crude and the wholesale price of gasoline.

i wonder if the got that name because the crude has to go through the cracker to get you different petrol products.

 

[riverc0il]

Not really, there also was Ragged, Loon, Bretton Woods, Burke, Waterville Valley, Tenney, Bolton and a few others I can't remember.

You can add Saddleback and Magic to that short list.

 

[thetrailboss]

Despite some more bad press, including this lawsuit, buyers should remain confident in Trailboss Realty and the promise of this investment opportunity. We have not received any bids in a while....except for Marc's bid, which was composed of a deal consisting of firewood and sheep. We need some cash, cold hard cash folks. :wink:

 

[billski]

Despite some more bad press, including this lawsuit, buyers should remain confident in Trailboss Realty and the promise of this investment opportunity. We have not received any bids in a while....except for Marc's bid, which was composed of a deal consisting of firewood and sheep. We need some cash, cold hard cash folks. :wink:

Let's' talk
Since my entire 401K was invested in AIG stock, I now have a total net worth of $10.23.
I might be willing to up the ante' if you can show me what you can do on the snow front for me. If you can get me 36" of pow in the next week, I'm willing to take this to the next level. You in? 8)

p.s., I'm talking NEW ENGLAND pow, not plane tix to Vail.