VAIL SUCKS

[machski]

So...did anyone have a good season??
I sure as hell did...

Still having a great season, but yeah mine was made on our two week trip to CO. Especially the 2nd week with continuous refresher storms. And for complete transparency, those 2 weeks were all on Epic.

 

[Kingslug20]

Did a lot more on epic than Ikon..but both worked out well so far.
Epic is working out to about $20.00 a day.
Ikon about double that..still good though.

 

[jaytrem]

Great season so far! Got some nice snow on our New England Indy trip. Mount Snow did a pretty good job. Could use more snowmaking and less paid parking, but they did run more lifts more often then Peak, and the trees were skiable enough for us most of the time. Also, finally got to ski the mid-west, what could be better than that??? Got a WA/Whistler trip still to come. If I finally make it to Crystal it will be a big win, I'm the Buffalo Bills so far, 0 for 4 with that place...

Too much snow, road is closed.
Too little snow, resort is closed.
Too much rain, road is washed out.
Too much Covid, passholders only.

 

[Kingslug20]

Need a heli to get around..

 

[chuckstah]

Article about how Vail sucks at Whistler, but applies company wide.

Maxed Out: Dear Vail Resorts—loyalty is a two-way street

Vail Resorts is increasing its minimum wage and committing to affordable housing options—but what's needed in Whistler is a focus on customer service.

www.piquenewsmagazine.com

 

[Zermatt]

Vail is buying majority stake in swiss resort Andermatt.

Vail Sucks in Switzerland Now

 

[thetrailboss]

Vail is buying majority stake in swiss resort Andermatt.

Vail Sucks in Switzerland Now

Wow.

 

[Kingslug20]

At least the cheese will still be good.

 

[gittist]

Vail is buying majority stake in swiss resort Andermatt.

Vail Sucks in Switzerland Now

I wonder if it'll count as a 'Vail owned' resort so I can use my cheap pass over there?

 

[thetrailboss]

I wonder if it'll count as a 'Vail owned' resort so I can use my cheap pass over there?

Probably. And after reading the article, I am perplexed how $150 mill buys a majority interest in a company whose owner has invested literally billions (with a "b"). I would expect that the value of the company would be higher but if revenues were low.....

 

[jimmywilson69]

Yeah I would've thought a 55% stake would've cost a lot more than $150 Million

 

[thetrailboss]

Yeah I would've thought a 55% stake would've cost a lot more than $150 Million

The $159 mill price, and 55% ownership interest, places the value of the company at $289 million total (149 mill Euros, total value 270.9 mill Euros). Without knowing more information, such as annual revenue and profit margins, it is hard to know if this is a low price really. It depends on how the company was valued. If it is times-revenue, I've seen some industries use a 5x annual revenue figure (but I see it can be as low as 1x or 2x, or lower). Still, $289 mill value seems low for a resort that size (I rode the Glacier Express through Andermatt and it is an impressive ski resort with a lot of newer lifts and spread over a good-sized area). Perhaps the deal is like Stowe--only the ski operations are purchased and the hotels and other businesses are not.

 

[Kingslug20]

Says expansion of dining also in the plan..

 

[machski]

The $159 mill price, and 55% ownership interest, places the value of the company at $289 million total (149 mill Euros, total value 270.9 mill Euros). Without knowing more information, such as annual revenue and profit margins, it is hard to know if this is a low price really. It depends on how the company was valued. If it is times-revenue, I've seen some industries use a 5x annual revenue figure (but I see it can be as low as 1x or 2x, or lower). Still, $289 mill value seems low for a resort that size (I rode the Glacier Express through Andermatt and it is an impressive ski resort with a lot of newer lifts and spread over a good-sized area). Perhaps the deal is like Stowe--only the ski operations are purchased and the hotels and other businesses are not.

Not what I have read. Unlike many Euro resorts where every piece is owned by different entities, this one sounded more like a NA resort. Everything was in the business package and Vail gets a piece of it all.

 

[jimmywilson69]

Regardless this is a very cheap investment. Something seems odd

Peak resorts bought the 3 snow time resorts in Southcentral PA for $76 Million

 

[thetrailboss]

Not what I have read. Unlike many Euro resorts where every piece is owned by different entities, this one sounded more like a NA resort. Everything was in the business package and Vail gets a piece of it all.

Interesting

 

[Edd]

Says expansion of dining also in the plan..

In NH, they practice contraction of dining options. Expansion, hmm, interesting.

 

[Zermatt]

Not what I have read. Unlike many Euro resorts where every piece is owned by different entities, this one sounded more like a NA resort. Everything was in the business package and Vail gets a piece of it all.

Correct. Andermatt is relatively new and much more like a US resort wholly owned by a single entity versus dozens of different interested parties. They likely control the on mountain dining and ski school.

 

[doublediamond]

Remember that when Vail bought Stowe, they only got the mountain operations. AIG still holds on to the Spruce Peak development, and a lot of land around Tollhouse.

It’s possible Vail only bought 55% of the operations.

 

[2Planker]

Nothin' skiable at WC
Both the Quad & Snowcat are on Wind Hold today.