Sugarloaf for sale...

[Goblin84]

rumor mill is a going. i hear they are asking 41 million for it. any truth behind this? I just got like 30 calls on my cell from loaf locals telling me.



oh, does anyone have 41 million dollars I could borrow? that would be great, thanks

 

[wa-loaf]

If you buy it will you put the old "If you were at Sunday River you'd be at the top" sign back up on the Double Runner West lift?

 

[Goblin84]

oh you bet I will. And i will put up the gondi

 

[wa-loaf]

You might need a little more than the $41 mil to do that! ;-)

 

[tekweezle]

maybe it;s because I have such fond memories of Sugarloaf but isn't 41 mil a little cheap? personally, I think it;s a world class resort. hell, I think under 90 mil for Killington and Pico is a steal.

why don;t they try and get some foreign capital from say the chinese who seem to be flush with cash nowadays? sort of like the Japanese going on a buying spree in the mid 80's.

 

[Goblin84]

Sugarloaf is hands down my favorite place to ski in the east. I have only heard 41 mil from one person. Once again I am not 100% sure on the accuracy of this info...hence me trying to get some more info on it.

And wa-loaf...i'll steal the old gondi's from the random locations in CV. might leave the one at the rack for Seth...

 

[Tin Woodsman]

maybe it;s because I have such fond memories of Sugarloaf but isn't 41 mil a little cheap? personally, I think it;s a world class resort. hell, I think under 90 mil for Killington and Pico is a steal.

why don;t they try and get some foreign capital from say the chinese who seem to be flush with cash nowadays? sort of like the Japanese going on a buying spree in the mid 80's.

Wow are you out of touch. Sugarbush fetched a mere $7MM when it was sold just 5-6 years ago. The combined Killington/Pico, with over 3 times the number of skier visits than the Loaf, fetched just $83MM. Given its location, small customer base, and the amount of "deferred maintenance" (IOW, the dumb shits at ASC haven't invested a dime in the place for a decade so it needs lots of up front capital) required, $41MM is a LOT more than I would think place of it's size would generate. Does ASC own a lot of land at the base of the Loaf? If so, that must be the key to getting the purchase price all the way up to $41MM.

 

[tekweezle]

yup, I guess I am out of touch. must be me agonizing over the out of sight NYC real estate rates.....7 mm for Sugarbush? makes me wish I wish I won the lottery!

as for Sugarloaf, I dunno. I thought there always some sort of customer loyalty amongst the faithful. location is a bit of an issue for me though. I for one would like it if they built the 4 lane highway.

just a personal thing but I think the terrain is pretty good even with the antiquated lifts. i;ve stayed at the ski in/ski out condos and they look like they are in good shape.

 

[Birdman829]

yup, I guess I am out of touch. must be me agonizing over the out of sight NYC real estate rates.....7 mm for Sugarbush? makes me wish I wish I won the lottery!

as for Sugarloaf, I dunno. I thought there always some sort of customer loyalty amongst the faithful. location is a bit of an issue for me though. I for one would like it if they built the 4 lane highway.

just a personal thing but I think the terrain is pretty good even with the antiquated lifts. i;ve stayed at the ski in/ski out condos and they look like they are in good shape.

I think you might find that if they did put in a highway you won't see the same customer loyalty among the faithful. Sugarloaf's awesome vibe is partially due to the fact that most of the real tourists will go to the River or to southern Vermont rather than making the trip to the Loaf.

 

[aveski2000]

Story in Portland Press Herald today.
http://pressherald.mainetoday.com/business/stories/070222otten.html

 

[wa-loaf]

i'll steal the old gondi's from the random locations in CV.

Your gonna have to go further than the valley. Those things are scattered all over New England. My dad even has some old window screens he uses as mini greenhouses in his garden. :-D

 

[ctenidae]

One has to wonder if Oak Hill is finally fed up with the whole investment and is now just liquidating it. They've put about $180 million into ASC, so I think they'll be taking a loss on this one.

 

[K2Trav]

$41 million for Sugarloaf, Doubt that, maybe for Sunday River, but thats still a little high. The Figure thats going around Sugarloaf is $25 million, but even that seems way to high

 

[sledhaulingmedic]

I'll give you $41M for both SR and 'Loaf, and not a penny more!

 

[knuckledragger]

Lets hope ASC has screwed up (Otenized) it's last ski area.

 

[snowmonster]

Note to self: ski all ASC mountains in the East before this season is over to make the most of the soon-to-be inexistent All-For-One Pass. Sounds from the news story that Sugarloaf will remain with ASC while the River gets owned by Otten. In that case, the hoped for improvements at Sugarloaf will still not happen because it would be the same ASC management.

 

[SkiDog]

Lets hope ASC has screwed up (Otenized) it's last ski area.

OTTEN just got greedy...he knows what hes doing to revamp ski areas...not so much biz sense though.......grew way too fast....

M

 

[AdironRider]

41 mil for the loaf seems insane to me. Sure its a great hill, but theyve already put up a ton of condos, so your not going to be getting into a place where you can make some big bucks on real estate sales and what not. As much as condos are hated, they are some of the primary money makers for the resort owners.

 

[ctenidae]

41 mil for the loaf seems insane to me. Sure its a great hill, but theyve already put up a ton of condos, so your not going to be getting into a place where you can make some big bucks on real estate sales and what not. As much as condos are hated, they are some of the primary money makers for the resort owners.

Condos charge condo fees, and recurring revenue streams (especially contractual ones) are worth a lot. A whole lot.

 

[Geoff]

Sugarloaf is far more likely to go in the Sugarbush $7-$10 million than the Killington/Pico $83.5 million. The thing that would make the most sense is for the condo owners at the bottom of the hill to form a co-op to buy the place. If the condo owners secured the debt with their condos, they could get money at 6% rather than the ASC 12%. There's probably enough operating profit from the resort to pay the interest and leave some left over for capital improvements. In these days of global warming and high energy costs, the Sugarloaf snowmaking system is in dire need of a revamp. The lift layout also needs some drastic alterations.