Former Sunday Rivah Rat
Active member
- Joined
- Mar 26, 2020
- Messages
- 218
- Points
- 43
Yes. Les Otten got way over his skis with too much debt at sky high rates. Most of Vail's acquisitions came in the Fed ZIRP era and their interest is tiny compared to ASC's. Now if they have to roll over any of that debt at today's rates, that's a different story.Memories are short: What sunk ASC was not their year-to-year profitability. They were profitable until they had to pay the heavy junk-bond debt servicing in the 20% per annum range. MTN is not in that position.
Wildcat is dead last on this list with only 15% of their trails open.
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