Intrawest going under. What happens to the Creek?

[jhartley]

In case you haven't heard, here's a link to an NS thread that has a couple links to official stories: http://www.newschoolers.com/web/forums/readthread/thread_id/515735/

 

The stories claim that Whistler will be auctioned off, but I'm curious what the implications are for Mountain Creek. Anybody who lives in the Vernon area heard any whisperings about this? I haven't ridden at Mt Creek in years, but I'm still curious about the fate of my original home mtn.

[Johnny Law]

This bankruptcy has more to do with Fortress than it does the ski areas. Fortress the investment group is done, Interwest will probably continue to exist to some degree though it will be way smaller and probably only hold on to some of the more profitable mountains.

 

Whistler is the crown jewel and still makes butt tons of money so somebody's picking them up pretty quick, my guess is the dude that sold it to interwest years ago.

 

As for Mtn. Creek don't even worry about it. They make money so somebody is going to end up purchasing them.

 

This may have a real negative impact on places like Revelstoke where money is tight and the market for rich dudes who want to own giant ski areas is pretty much nonexistent.

[RootDKJ]

Thoughts on Stratton?

[Johnny Law]

Thoughts on Stratton?

 

Hopefully that piece of shit mountain gets sold to some dude who wants to burn down that monstrosity that was built at the base and then never runs the lifts again.

 

Realistically speaking nothing will change, 99% of interwest holdings will be sold off or consolidated under the new fortressless interwest and basically remain unchanged. Like I said above its most likely that the only places with real issues are those that lose money and are only partially developed.

[Johnny Law]

Sorry if Stratton is not core enough for you...but how can you call a mountain with more six packs than a brewary a problem?? The base village is mad steezy, it's like going to Europe without going through customs..

 

Its not about being core its literally about the future of resort snow sports.

 

Everything Stratton represents and embodies, nearly all of the major problems with Interwest and ski resorts in general relate back to the same bullshit. Build a huge fucking base village with lots of condos sell the crap out of them to people that can or cannot afford them, cash out and walk the fuck away. Who cares if its sustainable, who cares if the fucking place dies, who gives a shit if the other local places can't hack it, who cares if regular families are priced out lets build this shit sell it like crack and then cash the fuck out.

 

Honest to god think in your head how many ski areas actually make a profit off of skiing and not real estate/"resort" bullshit. Very few and those tend to be the crown jewels of N/A skiing. So where does that leave the other 30% of the industry, the mom and pop places that want to run lifts and that's pretty much it. Out of business is where it leaves them and then all we end up with is endless fucking Stratton's. Endless fucking manufactured bullshit.

 

I'm not saying there isn't a place for six pack lifts and base villages but there sure as shit better be a place for mountains were you actually ski and where the top priority isn't if Dan and Denise Buttfuckers from West Chester, NY can get a sweet 12 bedroom mtn condo they use once a fucking year. High speed lifts cost serious loot and the way lots of places paid for them was with condo sales, now lets say those condo sales dry up because the market bombs or you didn't do you homework and realize that no one wants to go to bumblefuck interior bc (revelstoke). Now you have lots of infrastructure you can't pay for with no real customer base except the hard core riders who were there before the condos and other bull shit.

 

Look at all the places that are in trouble or actually went out of business (Tamarack should be a case study) they all played the real estate game hard and they all thought if you plopped a euro look alike base village down the money just rolled in.

 

That's not the fucking way it works and if they don't figure it out soon its going to be a real shame because some great mountains will be lost to lift serviced traffic and we as riders, not the interwests of the world are the ones who will be worse off.

 

Edit: Read this thread for more info - http://www.tetongravity.com/forums/showthread.php?t=179824

Edited January 21, 2010 by Johnny Law

[Switchsideskier.]

Hopefully that piece of shit mountain gets sold to some dude who wants to burn down that monstrosity that was built at the base and then never runs the lifts again.

 

Realistically speaking nothing will change, 99% of interwest holdings will be sold off or consolidated under the new fortressless interwest and basically remain unchanged. Like I said above its most likely that the only places with real issues are those that lose money and are only partially developed.

 

Maybe Blue Mountain will purchase haha

[AtomicSkier]

If real estate sales fund high speed lifts that boot me up double as fast then I am for real estate sales. Skiing has always catered to a niche of Buffy Buttfuckers from Westchester county. I like the way the ski industry is. Survival of the fittest...places like Stowe and Jackson Hole appeal to both the wealthy and the hardcore while places like Okemo and Stratton appeal to those with money but less skills. I think Blue should build condos...another way to fund on mountain improvements. I am a fan of capitalism and if the ski resorts build condos and people buy them whether they can afford them or not it is a great thing. Let the Buffy Buttfuckerd subsidize the GSS'S

 

I'm with stupid.

 

I for one enjoy skiing at Stratton. Every lift they have is a high speed 6pack, the village is beautiful, and now, the real estate is very affordable. Some legit tree skiing (for southern VT) at Stratton, for sure.

 

Don't hate the player, hate the game, Johnny. You have a good job, you should snag a condo at Stratton for cheap

[RootDKJ]

I'm with stupid.

 

I for one enjoy skiing at Stratton. Every lift they have is a high speed 6pack, the village is beautiful, and now, the real estate is very affordable. Some legit tree skiing (for southern VT) at Stratton, for sure.

 

Don't hate the player, hate the game, Johnny. You have a good job, you should snag a condo at Stratton for cheap

 

I too like Stratton. Do we think this will drive down housing costs there even further?

[AtomicSkier]

I too like Stratton. Do we think this will drive down housing costs there even further?

 

My friends have a condo at Stratton...they bought in summer 08 i believe. The people next door bought theirs this past summer for 30% less.

[VTSKI]

The real story is here.

 

http://www.saminfo.com/news/article.php?tid=4400

[Johnny Law]

^^^

serious lulz 524 million short and they still bullshit like everything is ok....I hope fortress eats a bag of dicks.

 

Hey guys everything is cool, remember our original loans we couldn't pay ? Yeah well we got some more loans and we kinda paid those, times are tough though and hey we were only 524 million short. Now if someone else will just loan us another billion dollars we should be cool until at least next month.

[toast21602]

i guess this is my chance to invest haha

[RootDKJ]

i guess this is my chance to invest haha

 

That's what I was thinking

[method9455]

If real estate sales fund high speed lifts that boot me up double as fast then I am for real estate sales. Skiing has always catered to a niche of Buffy Buttfuckers from Westchester county. I like the way the ski industry is. Survival of the fittest...places like Stowe and Jackson Hole appeal to both the wealthy and the hardcore while places like Okemo and Stratton appeal to those with money but less skills. I think Blue should build condos...another way to fund on mountain improvements. I am a fan of capitalism and if the ski resorts build condos and people buy them whether they can afford them or not it is a great thing. Let the Buffy Buttfuckerd subsidize the GSS'S

 

The part you are missing is that the condos did NOT pay for the lifts. If the condos paid for the lifts Fortress wouldn't be so fucked. They planned for the condos to pay for the improvements but it didn't work out. There just are not that many people who will buy 2nd homes. And sure as hell not at a place like MC, hell even Stratton.

 

The villages suck at Stratton, Mountain Creek, and Winter Park. I was OK with the village at Tremblant because it seemed to fit better. I hear Whistler is the same way as Tremblant.

 

The problem for day skiers is that the village gets between you and the mountain. At least at Tremblant the cab lift goes from the parking lot to the base area and by passes the village. At WP the cab lift goes from the parking lot to the entrance to the village and you have to trudge through for 2 or 3 blocks in your gear on cobble stone. WTF? (Or do a 40 foot climb up a fairly steep slope and get on a trail and ski to the base, thats what I do but it doesn't make sense). And at Mountain Creek they pushed all the parking across the street so you have to climb a big stair case and cross a bridge in your gear - WTF? I've only been to Stratton once and it didn't seem good there either.

 

You can only screw people so much before it comes back to bite you. There are lots and lots of places to buy a ski house. I would never ever own one at Stratton in VT. If you don't buy a ski in ski out place you are a second class citizen at an Intrawest resort. Why not go to one of the competing mountains?

Edited January 26, 2010 by Kevin.

[RootDKJ]

The problem for day skiers is that the village gets between you and the mountain.

 

This is one of the problems I have with Killington's plans for a village. That and they are trying to squeeze out all the local spots on the access road if they ever break ground.

[Johnny Law]

This is one of the problems I have with Killington's plans for a village. That and they are trying to squeeze out all the local spots on the access road if they ever break ground.

 

Don't worry Killy isn't making any money either so that village is pie in the sky stuff. I'm sure if they just build a 1,000 more condo units everything will work itself out and then they can run skyeship more than 2 days a week.

[Johnny Law]

Update: Panorama sold, squaw on the way, lots of talk about vail purchasing Winter Park which would probably suck.

 

In Jackson, Wyo.,

[method9455]

It would suck if Vail bought WP. Copper and Steamboat go with it so there would basically be one company that owned all of the mountains within 4 hours of Denver. Sure you could get 1 pass that covered them all, but I can guarantee they wouldn't cost less than $400 like they do now.

[VTSKI]

INTRAWEST SELLS VILLAGE TO SQUAW VALLEY

 

February 2, 2010

 

SAM Magazine--Squaw Valley, Calif., February 2, 2010--Late last week, Squaw Valley USA announced that it has completed the acquisition of The Village at Squaw Valley, a four-season mountain resort village at the base of the ski resort, from Intrawest.

 

The Village was started in 2002 and was developed by Intrawest. Last week's transaction includes all of Intrawest

[Johnny Law]

blah blah blah

 

Didn't you just post on the previous page a story that said all was well in interwest land ?

[VTSKI]

Didn't you just post on the previous page a story that said all was well in interwest land ?

 

I didn't write the articles! Read the source!

[method9455]

My dream is for Peak to buy Mountain Creek. Fan guns + good grooming - shitty village = awesome. And Intrawest already did the lifts which seems to be their thing.