skier17 Posted December 7, 2012 Report Posted December 7, 2012 http://thetimes-tribune.com/news/sno-mountain-saddled-with-24m-debt-could-be-on-auction-block-1.1413188 Quote
Johnny Law Posted December 7, 2012 Report Posted December 7, 2012 24 mil hahahahahah Sad to say it but that is a very large debt load in relation to their business, I don't see how they survive in the current form. Auction sell with debt write downs is probably their best chance for long term success. Quote
toast21602 Posted December 7, 2012 Report Posted December 7, 2012 KC? So much for keeping us updated. Quote
Ride Delaware ? Posted December 7, 2012 Report Posted December 7, 2012 It's all media propaganda... Don't believe it!!! 1 Quote
JFskiDan Posted December 7, 2012 Report Posted December 7, 2012 if this is all factual, it does paint a pretty grimm picture. KC hasnt been around since the begining of November, so i take that to mean things arent quite perfect at Sno. i still hope they get open, and have a great season. i need to take a trip up this year. Quote
Ride Delaware ? Posted December 7, 2012 Report Posted December 7, 2012 if this is all factual, it does paint a pretty grimm picture. KC hasnt been around since the begining of November, so i take that to mean things arent quite perfect at Sno. i still hope they get open, and have a great season. i need to take a trip up this year. He is usually the first one to either corroborate or dispute their bullshit, so I take this as a bad sign also. Get up there while you guys still can!!! Quote
RidgeRacer Posted December 7, 2012 Report Posted December 7, 2012 Jfdan! ride said don't believe it so it must not be true. Quote
OutCold Posted December 7, 2012 Report Posted December 7, 2012 It's all media propaganda... Don't believe it!!! Is that what the papers are saying in Maine?? Quote
Ride Delaware ? Posted December 7, 2012 Report Posted December 7, 2012 Is that what the papers are saying in Maine?? Nah, that's what KC says... I don't know if I've read a paper in Maine... Quote
OutCold Posted December 7, 2012 Report Posted December 7, 2012 Nah, that's what KC says... I don't know if I've read a paper in Maine... Do they have paper in Maine? Quote
burton71 Posted December 7, 2012 Report Posted December 7, 2012 Seems like this would be a great opportunity for someone to buy it. Quote
fluffy Posted December 7, 2012 Report Posted December 7, 2012 Seems like this would be a great opportunity for someone to buy it. Not for what they want for it. Only a fool would buy that place for what they are asking. Quote
Winter Posted December 9, 2012 Report Posted December 9, 2012 24 mil is only the debt, not what they'll get for the place, not by a long shot. I Think the previous owners (not the current bank) paid 4 or 5 mil back in early 2000's. That was pretty steep considering the run down condition it was in and the $$$ they had to stuff in the place. Bottom line is this, you may not like the place or appreciate anything about it. But if Sno shutters for good, there will still be a good few ppl who end up clogging up other areas and that means higher ticket prices and longer lines. 2 Quote
Ride Delaware ? Posted December 9, 2012 Report Posted December 9, 2012 I just don't see them going out of business for good. I still think someone will pick them up. The waterpark is finally established, they had a good concert series, and the ski area has been kept in decent repair over the past few years. There have also been some fairly significant upgrades to infrastructure. If the bankruptcy goes through, the debt gets restructured, and an actual resort operations company picks it up, I think they can still be successful. Quote
Winter Posted December 9, 2012 Report Posted December 9, 2012 Couldn't agree more. The land is largely useless for anything else. Having said that, there is enough room for expansion of real estate development so who knows. And yeah, the infrstructure is mostly all there and in decent shape. Quote
rgrwilco Posted December 9, 2012 Report Posted December 9, 2012 If anyone buys sno, I hope they have the foresight to actually engage in a little something called marketing. Quote
Sno Mountain Skier Posted December 9, 2012 Report Posted December 9, 2012 "they had a good concert series" They have nothing to do with the concerts at all. Quote
toast21602 Posted December 9, 2012 Report Posted December 9, 2012 If anyone buys sno, I hope they have the foresight to actually engage in a little something called marketing. what's that? Quote
poconoceancity Posted December 9, 2012 Report Posted December 9, 2012 I hope they put in a T2B high speed lift. It would be worth the drive from Lake Harmony to avoid the crowds of Blue or CB. Quote
toast21602 Posted December 9, 2012 Report Posted December 9, 2012 I agree with PoconoOceanCity yeah pretty much. i would still get a season pass to Blue but if Sno put one in I would get up there more often. Quote
Winter Posted December 9, 2012 Report Posted December 9, 2012 http://citizensvoice.com/news/challenging-course-sno-mountain-s-financial-slope-1.1411108 This is some good info on how the resort got started. Quote
RidgeRacer Posted December 9, 2012 Report Posted December 9, 2012 Good article. I forgot Snow Time was bidding 6 years ago. Maybe they'll try again. It should have been sold to them to begin with. Quote
Winter Posted December 10, 2012 Report Posted December 10, 2012 I didn't even know that, though i heard there were numerous bidders. I knew the last/former owners quite well and one of them, Dick Ford, had a great business and mechanical sense and was a great guy to have around there, he was blown out by the majority owner, and professional lounge dweller Dennis Carlson, who hated the fact Ford was always a busy-body there. He turned him into a silent partner and that began the steady decline to the bottom for Sno. Might have gone better with Ford around. Who knows, but fingers are crossed that someone with experience steps in next. Quote
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.