Vail to buy Stowe?

[Jcb890]

Did Vail buy Jay Peak yet or what?!?!

 

[thetrailboss]

Did Vail buy Jay Peak yet or what?!?!

We're all still waiting for the announcement about Saddleback, Waterville Valley, and Magic.


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[slatham]

We're all still waiting for the announcement about Saddleback, Waterville Valley, and Magic.


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Happily, Magic is clearly off the market. Not sure about the others.

 

[machski]

no press release but wall street now talking...

http://www.thestreet.com/story/13971085/1/vail-resorts-may-acquire-vermont-s-stowe-mountain.html

in this article it says "nothing has been written or signed." this is consistent with what I've heard this past week. there was a handshake deal done, but nothing official. I think a lot of it is hinging on the price & potential Toll House area development. If there are no major obstacles to developing Toll House the deal could reach $500mil. But if there are land/development issues (and this being VT, there almost certainly is) it could be in the $275-300mil range. This is obviously very speculative, but I've talked to people pretty close to the situation.

If these speculative sales prices are even partially true, their stock price will likely take a hit. Especially if the $500million figure were to happen. Even with Toll House development, no way do I think Stowe is worth that. In an extremely restrictive state on development no less. This smells like all talk more and more each day.

 

[Jully]

$500 million is absolutely insane

 

[fbrissette]

$500 million is absolutely insane

Even 275-300$ millions does not make sense.

Consider that the following were sold a couple of months ago for less than 400 millions (all of them together).

Brighton Ski Resort, Utah
Crested Butte Mountain Resort, Colorado
Cypress Mountain, B.C., Canada
Gatlinburg Sky Lift, Tennessee
Jiminy Peak Mountain Resort, Massachusetts
Loon Mountain Resort, New Hampshire
Mount Sunapee Mountain Resort, New Hampshire
Mountain High Resort, California
Northstar-at-Tahoe Resort, California
Okemo Mountain Resort, Vermont
Sierra-at-Tahoe Resort, California
Stevens Pass, Washington
Sugarloaf Mountain Resort, Maine
Summit-at-Snoqualmie Resort, Washington
Sunday River Resort, Maine
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[mriceyman]

Even 275-300$ millions does not make sense.

Consider that the following were sold a couple of months ago for less than 400 millions (all of them together).

Brighton Ski Resort, Utah
Crested Butte Mountain Resort, Colorado
Cypress Mountain, B.C., Canada
Gatlinburg Sky Lift, Tennessee
Jiminy Peak Mountain Resort, Massachusetts
Loon Mountain Resort, New Hampshire
Mount Sunapee Mountain Resort, New Hampshire
Mountain High Resort, California
Northstar-at-Tahoe Resort, California
Okemo Mountain Resort, Vermont
Sierra-at-Tahoe Resort, California
Stevens Pass, Washington
Sugarloaf Mountain Resort, Maine
Summit-at-Snoqualmie Resort, Washington
Sunday River Resort, Maine
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Did all of the land come with those resorts or does someone else own the acreage?


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[dlague]

Did all of the land come with those resorts or does someone else own the acreage?


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Someone else owns the acreage! And if you notice, many are on the Max Pass!

 

[machski]

Someone else owns the acreage! And if you notice, many are on the Max Pass!

No, Och-Ziff owns the acreage now. The operating companies simply lease it back from them. This sale was the actual assets (IE acreage).

 

[machski]

^^^That said, may not be a fair comparison as CNL was looking to unload the entire portfolio for a while. A direct sale of assets and operations like Stowe would likely command a premium above what CNL/O-Z transaction was, but the mentioned numbers still seem ridiculous.

 

[benski]

^^^That said, may not be a fair comparison as CNL was looking to unload the entire portfolio for a while. A direct sale of assets and operations like Stowe would likely command a premium above what CNL/O-Z transaction was, but the mentioned numbers still seem ridiculous.

So is paying $1,800 for a pass.

 

[machski]

^^^No disagreement there.

 

[cdskier]

Well played benski!

 

[thetrailboss]

http://www.wcax.com/story/34402269/rumors-of-stowe-resort-sale-reach-crescendo


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[Whitney]

no no no. As a former vail employee, I hope the people at Stowe can avoid this!

 

[deadheadskier]

Not happening. Have it from a good source the discussions were not all that serious.

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[VTKilarney]

Not happening. Have it from a good source the discussions were not all that serious.

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I've always thought that something closer to NYC or Montreal made more sense. I'm sure the price was prohibitive as well.

 

[KustyTheKlown]

Jay and Burke would make sense. Montreal market and the Boston/ct/NYC hardcores. All those condos, new hotels, and 4 season amenities. And on sale for cheap cheap cheap

 

[jimmywilson69]

Not happening. Have it from a good source the discussions were not all that serious.

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The guy I know that runs a major ski tour company based out of Stowe said it is happening. This guy is well connected with all of the brass at the mountain. He funnels A LOT of business there and would be in the know.

That being said until it happens or doesn't happen then it's just the same Cycle of rumors.

Major surprise powder day today best day I ever had at a Stowe.



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[deadheadskier]

My information came today through my best friend who owns a couple of restaurants in town. A top executive of the mountain has been a close family friend of his for 20 years and said there was never any real serious discussion. Now, it's certainly possible that this executive was telling a white lie to quiet rumors until a deal goes through, but I would be very surprised if that was the case.

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