Stenger and Quiros Ousted from Management of Jay Peak and Burke

[gregnye]

So... Now we just wait for Peak Resorts to swoop in and buy Jay Peak and Burke and add it to the pass list. Right?? Right???

 

[from_the_NEK]

I would suspect Peak is pretty heavily leveraged after the Hunter purchase. Add to that the poor year the northeast ski areas had across the board this year and I doubt they would go for it.

I could see Intrawest being interested in Jay Peak with all of the amenities that have been built there. However, Burke doesn't really fit their profile.

 

[deadheadskier]

Peaks needs to diversify West if they are to acquire any more areas

 

[mbedle]

They will need court approval for a sale. That might take a long time.

I wouldn't put it past Quiros to do everything in his power to drag things out just to see Burke languish. IMHO this guy's ego knows no bounds.

Do you actually think that Ariel Quiros has something out for Burke? Just seems odd that someone would go to such extremes to just be vindictive of a ski resort or the locals.

 

[sull1102]

So... Now we just wait for Peak Resorts to swoop in and buy Jay Peak and Burke and add it to the pass list. Right?? Right???

Not a chance... Sadly. You do wonder if this went down five months ago does Peak hold off on Hunter in order to go after the Montreal market with Jay.

 

[VTKilarney]

Do you actually think that Ariel Quiros has something out for Burke? Just seems odd that someone would go to such extremes to just be vindictive of a ski resort or the locals.

I honestly believe it.


.

 

[thetrailboss]

Q posted something on their FB page saying that it is business as normal. In response to feedback that the "Q" needs to be dropped, because of the serious allegations of fraud, the mountain responded to folks to "stay positive." Wow.

 

[Zermatt]

Good point. I got excited there for a minute.

But at least for Burke, where are they going to get any capital to run the place? The only source they are going to have is from EB-5 investor's money. I doubt those investors are going to want to run a money-losing ski area.

They have to sell very quickly, at this point it will be a crisis of confidence. People need to be confident there will be a resort next year, to pay deposits, to buy season passes....

Even if they have plenty of cash, you need the consumers to have confidence there is a going concern.

 

[Sick Bird Rider]

Someone is on top of updating the Leisure Hotels website:

http://www.leisurehotel.com/properties/jay-peak-resort/

http://www.leisurehotel.com/properties/q-burke/

 

[BenedictGomez]

Someone is on top of updating the Leisure Hotels website:

http://www.leisurehotel.com/properties/jay-peak-resort/

http://www.leisurehotel.com/properties/q-burke/

Whether you like the outdoors or indoors, winter, summer, spring, or fall, the talented and familiar concierge staff at the Q Burke Hotel & Conference Hotel can point you in the right direction.

What staff?

 

[fbrissette]

Even with Canadian guests able to pay for lift tickets/lodging in CAD, why would someone from MTL cross the border instead of going to Tremblant or any of the MSSI mountains? Genuine question since I don't see the benefit.

Many reasons why many Montrealers come to Jay and not to Tremblant:

- season pass much cheaper
- if you live in the southern part of Montreal or south of Montreal, much faster and less traffic to get to Jay, EZ border crossing nowait
- many don't like the Disneyland that Tremblant has become
- better glades
- more laidback attitude
- less crowded
- more snow
- better backcountry options

 

[thetrailboss]

http://www.burlingtonfreepress.com/...y-peak-stenger-fraud-case-interview/83075814/

 

[tumbler]

What staff?

Maybe they are hiring back some of the staff that was fired. They are not going to import employees, only the ones that are running the show.

 

[tumbler]

Basic back of the napkin math for commercial real estate with a cap rate of 10% would mean PROFITS of $2.5M to justify the $25M purchase price.......

2008 was the bottom of the real estate market, River is probably correct. 10% cap rate is good but based on inflated value. Most ski resorts do not make a lot of money, if any. This included Jay.

 

[JoeB-Z]

Don't get me started on Bernie. The guy who yells about how unfair it is that folks get golden parachutes...until his wife needs one and it almost bankrupts the private college she was leading. It's all about him and a paycheck for him.

Amen, So Jane plans to buy a $10M campus with 200 students? What can go wrong with that? (Sander's kitchen table talk.) And when you drive the college into the ground you take $200K to get lost? Leaving the college $11M in debt? And what about the multi-million dollar donation commitments to back up the deal?

 

[thetrailboss]

Amen, So Jane plans to buy a $10M campus with 200 students? What can go wrong with that? (Sander's kitchen table talk.) And when you drive the college into the ground you take $200K to get lost? Leaving the college $11M in debt? And what about the multi-million dollar donation commitments to back up the deal?

Exactly. Bernie also ran for office because he needed a job. I love it how he says he is an outsider--he is a career politician.

 

[tnt1234]

I predict Boyne buys Jay this summer......

 

[thetrailboss]

I predict Boyne buys Jay this summer......

Not going to happen. Boyne has no money. They relied on CNL to finance their last expansion and CNL is getting out of the resort business. Boyne could not get any money to buy Solitude, a single resort, in 2014 next door to Brighton.

And, as stated, there will be no sale of either resort for a while. There are now only civil violations. Criminal cases come next followed by civil lawsuits by the investors. We're talking at least two seasons before any sale could even begin to take place.

 

[benski]

Many reasons why many Montrealers come to Jay and not to Tremblant:

- season pass much cheaper
- if you live in the southern part of Montreal or south of Montreal, much faster and less traffic to get to Jay, EZ border crossing nowait
- many don't like the Disneyland that Tremblant has become
- better glades
- more laidback attitude
- less crowded
- more snow
- better backcountry options

Jay also gets much more snow. Tremblant is also flatter.

 

[VTKilarney]

The governor tried to scrub records:
http://vtdigger.org/2016/04/15/governors-office-asks-that-old-emails-be-destroyed/