VAIL SUCKS

[snoseek]

This happens all over the place on the corporate side, but if true, this is bogus accounting aimed to justify and/or obfuscate the notion that Cannon is a money pit. Looping in lease income from another property and saying "NH-owned ski areas" are breakeven is putting lipstick on a pig. It will never cease to amaze me that my native NH continues to contort itself into thinking that operating a recreational property for the upper-middle class + should take a minute its government's limited time and money. Boy do I love Cannon though.

I really don't think the place is a money pit. Also cannon has all types that ski there not just wealthy people...it's got some good deals for nh residents and is overall more approachable than its neighbors for cost and learning.

 

[urungus]

Best i can determine the current sunapee lease is up in 2028. Problem as I understand it, the state of NH may own the land but vail owns the infrastructure at sunapee. No way is the state of NH cutting a seven figure check to vail resorts.

Had a lengthy conversion with a CMAC member over the summer, impression i got was cannon as currently operated is not viable without the sunapee subsidy. On a somewhat unrelated note, he was confident cannon would get the tram funds. He was also proud of snowmaking repairs made over the summer.

I really don't think the place is a money pit. Also cannon has all types that ski there not just wealthy people...it's got some good deals for nh residents and is overall more approachable than its neighbors for cost and learning.

According to https://www.newenglandskiindustry.com/viewstory.php?storyid=718

“The State of New Hampshire remains the owner of the land and legacy assets at Mount Sunapee. Including option years, the current lease runs through 2048. Under the terms of the lease, the operator must pay the state $150,000 per year, plus 3% of gross revenue. Since the start of the lease, all Sunapee lease payments have been used to finance debt accumulated at Cannon Mountain.”

Who would be funding / owning any new Sunapee chairlifts ? Anyone know about the option years (who has the option and when)