Ski area bankruptcies

[MEtoVTSkier]

If they can't wipe the virus from the face of the planet, it won't be over until all humans on the planet get exposed and survive or not, or they come out with a working vaccine. Isolation is just prolonging eventual probable exposure.

 

[Rowsdower]

When this is over there will be pent up demand for consumers to spend by shopping and eating out. Travel will come back, especially within driving distance which puts VT, NH and ME in good position. I also think that people will rally around the service industry unemployed to help them through this. Yes, I am on optimist but I also think that America (including myself) are finally realizing how serious this is and is probably a preview for the future.

Conversely, if people are out of work then they'll be curtailing spending for a while even after the virus passes.

 

[Edd]

If they can't wipe the virus from the face of the planet, it won't be over until all humans on the planet get exposed and survive or not, or they come out with a working vaccine. Isolation is just prolonging eventual probable exposure.

Yes, but not overloading the hospitals early is the intent. Already, some are weeks away from running out of supplies. In Indiana, the public is being asked to sew masks for medical personnel.

 

[Edd]

Some ski areas rely on summer revenue for real. Those areas have entered a natural break between winter/summer ops early this year.

Hopefully (fingers and toes crossed) the ski areas can eke out some semblance of summer biz. A one-two punch of low pass sales and dismal summer business will be tough even for a financially healthy outfit to weather.


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[MEtoVTSkier]

Yes, but not overloading the hospitals early is the intent. Already, some are weeks away from running out of supplies. In Indiana, the public is being asked to sew masks for medical personnel.

Yep, I get that, just a steady trickle of patients, that can be handled, vs a giant flood of them.

 

[VTKilarney]

It's a horrible choice. Destroy the economy or save lives.

13% of Italy's economy is tourism. Practically overnight 13% of their economy has evaporated. The economic consequences of this are going to be severe. Hopefully the United States is in a better position to weather the storm.

 

[MikeDeJ]

Conversely, if people are out of work then they'll be curtailing spending for a while even after the virus passes.

I am one of those people out of work. I had an Epic Local pass last year, planned on buying the same. With less $$ available may step down to the Epic Northeast, dont see how I will have money to go out west. Still early in this, but dont see me buying lunch/beer at mtn like I have in the past. I will still ski, but extras are gone at this point. Alot of the people I ski ( and see for a beer at lunch) with Mon-Tues are service people it will effect the ski areas, Im sure some improvement projects will be on hold for some time.

 

[deadheadskier]

What I'll be interested in seeing is how severe the decline in labor availability will be for the tourism and F&B industries when this is all done. It was already tough for these places to find help. How many workers who are going through economic hell right now decide to look for a more insulated means of employment such as healthcare?

I thank my lucky stars I made the decision nine years ago to transition my career from F&B to healthcare. I'd say 95% of my old friends in F&B businesses are now unemployed.

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[fbrissette]

Hopefully the United States is in a better position to weather the storm.

The way it is being handled in the USA, and especially in the South, you are going to be Italy very soon.

 

[icecoast1]

What I'll be interested in seeing is how severe the decline in labor availability will be for the tourism and F&B industries when this is all done. It was already tough for these places to find help. How many workers who are going through economic hell right now decide to look for a more insulated means of employment such as healthcare?

I thank my lucky stars I made the decision nine years ago to transition my career from F&B to healthcare. I'd say 95% of my old friends in F&B businesses are now unemployed.

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It may actually be easier to staff resorts in the short term. The economy being good had a lot to do with it, with unemployment going through the roof people may be more apt to take a ski industry job for a winter

Of course they can always go the foreign route. Would be nice to see something incentivizing mountains to hire american labor after all of this, but we'll see

 

[icecoast1]

What I'll be interested in seeing is how severe the decline in labor availability will be for the tourism and F&B industries when this is all done. It was already tough for these places to find help. How many workers who are going through economic hell right now decide to look for a more insulated means of employment such as healthcare?

I thank my lucky stars I made the decision nine years ago to transition my career from F&B to healthcare. I'd say 95% of my old friends in F&B businesses are now unemployed.

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It may actually be easier to staff resorts in the short term. The economy being good had a lot to do with labor shortages, with unemployment going through the roof people may be more apt to take a ski industry job for a winter

Of course they can always go the foreign route. Would be nice to see something incentivizing mountains to hire american labor after all of this, but we'll see

 

[ss20]

I too would expect a big surge of employment at ski areas next season. Broke people who don't have jobs get a paying position and a season pass.

 

[EPB]

It may actually be easier to staff resorts in the short term. The economy being good had a lot to do with labor shortages, with unemployment going through the roof people may be more apt to take a ski industry job for a winter

Of course they can always go the foreign route. Would be nice to see something incentivizing mountains to hire american labor after all of this, but we'll see

I agree in the short run. If places open up in a relatively high unemployment environment, it should be easier to find labor.

Long run is tougher to say, but my sense is a new crop of enough young people will eventually fill in. Seems to have been reliable throughout history save for ticket scanners (developing world labor at my home, Attitash, growing up). Many, but not all, of those jobs are being automated.

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[deadheadskier]

I don't recall a surge in ski area employment after 2008. Maybe I could see a surge in retirement aged people who had their portfolios crushed by this and need some added income. But younger workers I do not see it. Most ski area jobs do not pay well and don't offer good benefits. A season pass is about the least valuable perk it's ever been with how cheap they are now. If I'm a younger worker I'm looking for full time, year round employment with benefits in a cost of living environment that would allow me to build up a solid financial cushion should shit hit the fan again. Those types of positions are so hard to come by in resort areas. It's why I left living in such locations in 2004 and never looked back. The environment today even without this pandemic is even worse.

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[njdiver85]

There are some new studies that have come out in recent days that believe social distancing will need to be the norm for a very long time, until we have an effective vaccine that has been distributed to the world population. Effective fully distributed vaccine is considered 18mths away at current estimates. Not sure how this will impact the 2020/21 ski season, but my guess is we are certainly NOT back to normal by Thanksgiving.

 

[EPB]

I don't recall a surge in ski area employment after 2008. Maybe I could see a surge in retirement aged people who had their portfolios crushed by this and need some added income. But younger workers I do not see it. Most ski area jobs do not pay well and don't offer good benefits. A season pass is about the least valuable perk it's ever been with how cheap they are now. If I'm a younger worker I'm looking for full time, year round employment with benefits in a cost of living environment that would allow me to build up a solid financial cushion should shit hit the fan again. Those types of positions are so hard to come by in resort areas. It's why I left living in such locations in 2004 and never looked back. The environment today even without this pandemic is even worse.

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You definitely made the right call. What I'm saying is that I see no reason why there won't continue to be a fairly steady influx of ~22 year olds to make the plunge. You're older and wiser now, but the thing with 22 year olds is they stay the same while we get wiser.

You shouldn't have seen a surge of employment in 2008. No need to increase staffing beyond 2007 levels when you know visits still be down. If anything, places probably cut heads. I suspect that behind the scenes, however, it was easier to maintain desired employment levels in 2008 than is was in 2005-2007.

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[MikeDeJ]

There are some new studies that have come out in recent days that believe social distancing will need to be the norm for a very long time, until we have an effective vaccine that has been distributed to the world population. Effective fully distributed vaccine is considered 18mths away at current estimates. Not sure how this will impact the 2020/21 ski season, but my guess is we are certainly NOT back to normal by Thanksgiving.

I guess normal needs to be defined. I agree this is a huge wake up call, but if we are like we currently are till Thanksgiving skiing will be the least of our issues. But I can see not packing the restaurants, gondolas, more bathrooms etc... this will happen.

MikeD

 

[icecoast1]

There are some new studies that have come out in recent days that believe social distancing will need to be the norm for a very long time, until we have an effective vaccine that has been distributed to the world population. Effective fully distributed vaccine is considered 18mths away at current estimates. Not sure how this will impact the 2020/21 ski season, but my guess is we are certainly NOT back to normal by Thanksgiving.

The Normal timeline for vaccines has been greatly accelerated. Theres already one in clinical trial we could see by.the end of the year. Theres also promising signs existing fda approved drugs can be used to treat and potentially prevent the virus

 

[skimagic]

It may actually be easier to staff resorts in the short term. The economy being good had a lot to do with labor shortages, with unemployment going through the roof people may be more apt to take a ski industry job for a winter

Of course they can always go the foreign route. Would be nice to see something incentivizing mountains to hire american labor after all of this, but we'll see

Its possible they won't let the foreign workers back in if this situation persists.

Here's an article on life of foreign workers that was in Powder mag recently.
https://www.powder.com/stories/foreign-aid/

 

[Jcb890]

Let's hope ski areas don't go bankrupt, but it will certainly be interesting to see what happens considering the economy taking such a hit.
Lot's of people are (wrongly) very upset about the season ending early and believe they should be entitled to money back or a discount next season. The reality is that the season wasn't cut short by that much, especially considering the weather we've had lately and appear to be headed towards.