Saddleback

[sull1102]

The Lepage Administration chose the Portland Waterfront, but Smellytele was saying that area is actually technically in South Portland.

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[Cat in January]

The article the Trailboss links to about Saddleback is how a firm was interested in purchasing the mountain, but claimed they needed the tax break to make it happen. Lots of people got their panties in a knot when Portland, Me qualified for the economic zone tax benefits

There is not love lost by Lepage for Portland and sure he would have steered the money elsewhere if he could.

See a few problems with the Saddleback application from the outside-not familiar with the particulars for qualifying for the economic zone. First the group applying did not have a purchase agreement for the hill. Second it is primarily seasonal work. Third it is not near any housing and requires workers to have their own car and a commute.

Given the time to close a deal and then the lead time to have a lift installed, not to mention all the other infrastructure work, looks like Saddleback stays closed another year and hard to see them come back. The time has given Saddleback Mountain Foundation their act together, but I do not have much hope of them being successful in a second go around.

 

[machski]

Well, if any investment group was going to buy into Saddleback, I'm sure it is with an eye to capture year round draw. Look at the ski industry now, year round programming is the norm no longer the exception. With the natural assets Saddleback has, this would need to be a focus. It is best known as a ski area now, so starting with that would be smart. But the year round tie in would need attention fairly quickly if any new venture is going to succeed for the long run.

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[mbedle]

Year round is still tough on ski mountains. I can remember at a city hall meeting at the river, that thanks to the wedding business and the rec park and biking, instead of losing 3.5 million per month this summer, we only lost 3 million this past month. There is a lot of infrastructure (and top exec pay) to cover in the off season. Utilities, taxes, debt service, etc....

I just can't imagine running a business that takes so much at a time when you can only do so much to cover those costs.

Was that just for Sunday River or all of the company's resorts?

 

[machski]

Was that just for Sunday River or all of the company's resorts?

Likely just SR. Not sure Loaf does much better in summer, but Loon outpaces both for sure by a very large amount. SR has some big events now that help, River Rock is a big draw and of course Tough Mountain, but Loon in the heart of the Whites has a better location and they offer a better assortment of activities daily.

As to my original post, it was in reference to Saddleback and Rangley area being unique with the lake so close by. If done right, the area could have a natural non skiing draw that Loaf and SR never will just due to natural location attributes. Killington never drew big in the summer until they invested in the summer attractions and experience. Now look, three lifts for mountain biking and realitvely busy. Whether they turn a profit in the summer yet or not?

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[thetrailboss]

Year round is still tough on ski mountains. I can remember at a city hall meeting at the river, that thanks to the wedding business and the rec park and biking, instead of losing 3.5 million per month this summer, we only lost 3 million this past month. There is a lot of infrastructure (and top exec pay) to cover in the off season. Utilities, taxes, debt service, etc....

I just can't imagine running a business that takes so much at a time when you can only do so much to cover those costs.

Wow, seriously?

Well, I guess if you have, at most, maybe 10 weddings a month, at $50k each, that is only $500k revenue. Just very rough math.

 

[Smellytele]

Pats peak is able to hold 3 weddings at a time (upstairs, downstairs and the valley lodge) and they say they make more money over the non skiing months (8 months) than the skiing months (4 months).

 

[Newpylong]

Pats peak is able to hold 3 weddings at a time (upstairs, downstairs and the valley lodge) and they say they make more money over the non skiing months (8 months) than the skiing months (4 months).

Pat's Peak is also much closer to population centers. Even if they make more in the off season it doesn't hurt that they print money during the winter as well. That place is a well oiled machine that many smaller areas try to mimic.

 

[thetrailboss]

Pat's Peak is also much closer to population centers. Even if they make more in the off season it doesn't hurt that they print money during the winter as well. That place is a well oiled machine that many smaller areas try to mimic.

+1

 

[thetrailboss]

Bump.

Up for grabs:

http://www.skiresortequipment.com/2004-doppelmayr-ctec-sprint

 

[crystalmountainskier]

Bump.

Up for grabs:

http://www.skiresortequipment.com/2004-doppelmayr-ctec-sprint

That’s been listed on there for three years.

 

[thetrailboss]

That’s been listed on there for three years.

I figured as such.

 

[MEtoVTSkier]

Too bad it couldn't go to Eaton.

 

[thetrailboss]

Too bad it couldn't go to Eaton.

Are they still operating? They were moving forward before the owner had a tragic accident.

 

[MEtoVTSkier]

Just some tows on the lower mountain for tubing and skiing. No movement on repair/replacing the summit lift.

 

[MEtoVTSkier]

Prospective Saddleback Buyer Arrested, Charged with Fraud

 

[Killingtime]

Is anyone surprised?

 

[Rikka]

https://www.pressherald.com/2018/06...-to-buy-saddleback-resort-charged-with-fraud/


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[VTKilarney]

Apparently the Australian authorities are more effective than the Vermont and United States authorities.

 

[AdironRider]

It is starting to feel like owning a ski area and owning a lamborghini attract similar people. Fraudulent and new money and almost always the first to get repo'd.

Out here, it is going to be pretty hilarious when that social media influencer group that bought pow mow goes belly up. Their plan is like what most ski developers (already ambitious) would come up with while high.