USAToday Article on Skiing & The Economy

[vcunning]

Here's the link with references to Wyn, Nyberg and an unnamed Okemo source.

What's your opinion?

 

[tjf67]

In the NE I think the ski industry is more recession proof than many other industries.

Snowfall will impact them more than falling IRA account

 

[Bostonian]

I personally think a lot of the uptick in sales of passes and what not is due to the drop in gas prices. While I cannot speak for others here, I do have a very very stable job and the implosion of the market hasn't affected me that much if any. The lower gas prices for me mean more days skiing as I can afford to drive more. While I haven't gotten a ski pass, I have looked at the option of it as Wachusett is the closet place for me within 45 minutes of a drive.

 

[frozencorn]

Nothing new, really....I'm more interested to hear if these resorts will remain upbeat following the holiday season.

 

[ski_resort_observer]

At Sugarbush — where the typical skier comes from a home with an average income of around $125,000

Like most stats that state "average" they can be very misleading regarding the real picture.

For example, the Bush has some very wealthy guests. No diferent than many other resorts.
If one has an income of 1m and nine have an income of $30,000, those 10 guests have an "average income" of $127,000.

IMHO the key is the price of gas. If it had stayed at around the $4 level I think the resort's in the NE would be facing a downturn regarding business this winter. Gas being cheap is the key to the NE resorts getting many of the folks from the NYC/Boston markets to trade that trip to Utah or Colorado for multiple trips to resorts in the NE. In addition, flying has become a major hassle, another factor helping us.

Here's a cartoon in the JH paper I cut out last week.

FWIW..I started my photojournalist career at the JH Guide in the mid 80's so they keep sending me the paper even tho a few years ago the JH Guide and the JH News merged. My friends who are still left in JH or over Teton Pass in Spudland are not doing too well at the moment. When I returned to Vermont in 96 and I told them what I paid for my very modest home in the MRV, they basically didn't believe me. When you live anywhere for a longtime you can become somewhat jaded about what the outside world is like...even in a place like JH.

 

[billski]

Like most stats that state "average" they can be very misleading regarding the real picture.

Good point. So what's the median?

 

[Warp Daddy]

I believe the Eastern US and Canadian resorts will be fine -- the West will take the brunt of the hit as folks opt to maximize their ski expenditures

 

[Vortex]

http://www.wmur.com:80/entertainmen...ml=man_ent&tmi=man_ent_-1_11150112052008&ts=H

a bit happier approach

 

[GrilledSteezeSandwich]

congrats to Win for being in USA Today....good PR

 

[Old Geezer]

Like most stats that state "average" they can be very misleading regarding the real picture.

For example, the Bush has some very wealthy guests. No diferent than many other resorts.
If one has an income of 1m and nine have an income of $30,000, those 10 guests have an "average income" of $127,000.

An interesting way to look at it. And based on observations, I think essentially accurate.

 

[Clarkl23]

I spoke to a number of the Western mountain reps I know at the Boston Ski Show and they all said they expected numbers to be down, including ski trips from councils like Florida, where all they do is trips and usually have big numbers. Some reps were doing the show with less help than they'd ever had because of cut-backs even though Boston is apparently the 2nd largest ski show in the country. I talked to someone who claimed that by Saturday Ski Market had done more business than all of last year's show, so apparently there were people buying. I've finally made my minimum for our trip to Jackson Hole, but it was tough and I really thought this would be a huge trip for us given the interest.

Clark

 

[riverc0il]

Not much new here. It seems well projected from earlier in the fall that airfare destination resorts were going to be in trouble and with cheaper gas prices... eastern resorts would reap the benefits from people less willing to pay big bucks to travel.

The article focuses on one of the most interesting aspects of the economy. That people are not spending money because they are losing their jobs (yet) for the most part. But rather it is fear that is making people cut back. Thus, by having a massive fearful reaction to the stock market, it is creating a self fulfilling prophecy and people actually will lose their jobs as a result of massive changes in consumer spending. I have long been an advocate against extensive debt and for increased savings, but too much all at the same time is a bad economic shift.

 

[Geoff]

I think the airlines are also contributing to the big drop in western destination resort skier visits. If you're checking a ski bag and a wheeled duffel, airlines like United are raping you with bag fees.

I agree with the opinion that the cheaper gas prices and canceled western trips mean more drive-to business. In the grand scheme of things, a tank of gas, a cheap hotel room for a couple of nights, and day tickets are within the budget of an awful lot of people in New England and metro-NYC. You can BYOB and eat grocery store food to control your costs. I think the big hit in New England is going to be the restaurant business and the ski resorts are no exception.

 

[KingM]

It's still all about the snow, IMHO. Better good snow in a bad economy than bad snow in a good economy.

 

[Starter Jackets Rule!]

Here's the link with references to Wyn, Nyberg and an unnamed Okemo source.

What's your opinion?

usa2day=comic book 4 dumb adults that only want to consider 1/3 of the whole story.
roll eyes.

 

[Starter Jackets Rule!]

I think the airlines are also contributing to the big drop in western destination resort skier visits. If you're checking a ski bag and a wheeled duffel, airlines like United are raping you with bag fees.

I agree with the opinion that the cheaper gas prices and canceled western trips mean more drive-to business. In the grand scheme of things, a tank of gas, a cheap hotel room for a couple of nights, and day tickets are within the budget of an awful lot of people in New England and metro-NYC. You can BYOB and eat grocery store food to control your costs. I think the big hit in New England is going to be the restaurant business and the ski resorts are no exception.

what about the LACK OF SNOW for the early season?

 

[abc]

That people are not spending money because they are losing their jobs (yet) for the most part. But rather it is fear that is making people cut back.

But the fear is based on reality.

Long before the implosion of Wall Street, people had seen their home value gone down significantly and had slowed or stopped spending. That, had already started a economic downturn. The Wall Street fiascal only make it more visible by adding to it.

For many, it's a double whammy of falling property value and whatever investment they hold. That's especially true of the well-to-do class. When the upper-middle class cuts back, some in the middle and lower middle class WILL lose their jobs. Whether that "some" will include you or not is quite often random.

So, it's every individual's believe and choice whether to prepare for it by cutting back (help oneself), or not cutting back (help prop up the economy).

Use myself as an example, I, for one, am not willing to help the economy at my own expense. Like most working class, how much I can afford to spend depends DIRECTLY on how much I make. Even assume I'll have a job, there's absolutely no chance of any raises nor bonus. That would certainly affects the level of my spending. But worse, there's a non-zero chance my job may or may not be there in a few months. So I simply can't afford to free spend beyond what I have (or not yet have aka credit card debt).

My feeling is quite the opposite. I believe we've been spending way too much for far too long. So we're returning to a more sensible spending habit, hopefully for the long term. And that, would automatically means job cuts for some, and lowering salary for the rest from here on (not just for a few month). The fact we're trying to do that all at the same time...well, that's just unfortunate.

We simply can't spend our way out of a mess that's caused by too much spending!

 

[GrilledSteezeSandwich]

I think the airlines are also contributing to the big drop in western destination resort skier visits. If you're checking a ski bag and a wheeled duffel, airlines like United are raping you with bag fees.

.

I agree I'm thinking about using FedEx this ski season..that way my skis won't end up in Hawaii..The west rules no doubt but driving my own car to a northeastern ski area is so convenient and the cheap gas just in time for ski season is great...

 

[GrilledSteezeSandwich]

what about the LACK OF SNOW for the early season?

I really hope that Jackson Hole and other snow starved Western Ski areas get dumped on before the Holidays..

 

[billski]

It's a shame, because gas prices are now getting down to something reasonable.....