Sale rumors...

[paul45]

Not trying to propagate rumors, just checking if anyone's heard anything. Twice now on lifts this year I've had chair mates claim there's maybe soon to be change in ownership at Elk. First was just relaying a cryptic comment from a sales counter person. Second was from an older "been there forever" skier claiming more explicitly that they have two different offers on the table right now.

Anyone have real info? Or just the perennial rumors that seem to happen every year?

 

[JFskiDan]

1 hour ago, paul45 said:

Not trying to propagate rumors, just checking if anyone's heard anything. Twice now on lifts this year I've had chair mates claim there's maybe soon to be change in ownership at Elk. First was just relaying a cryptic comment from a sales counter person. Second was from an older "been there forever" skier claiming more explicitly that they have two different offers on the table right now.

Anyone have real info? Or just the perennial rumors that seem to happen every year?

 

No knowledge what so ever, but i wouldnt doubt if there is an offer on the table for Elk at all times.  i dont see why Vail or KSL wouldnt want to scoop it up.  

[saltyant]

That will be rad if Ikon acquires Elk Mountain. New hotel resorts, high speed lifts, uber paid parking. They can turn Elk Mountain into a radical resort just like Camelback!

[mgguy]

Enough VT resorts already bought up, please don't let this one get ruined too! Can just see paid parking, pay to use the cabin, half the lifts closed mid week to save money. 

[JFskiDan]

9 hours ago, mgguy said:

Enough VT resorts already bought up, please don't let this one get ruined too! Can just see paid parking, pay to use the cabin, half the lifts closed mid week to save money. 

i couldnt agree more, but Elk is so funny.  no tree skiing.  hardly any discounts.  no indy pass.  no fucks given.  dont wanna ski here?  we dont care.  

But at some point, the fun of owning a ski resort has to wear off.  

[RidgeRacer]

Been thinking hard about getting the big and friendly pass to elk next year. The one that gives you 15 days or whatever 

[rgrwilco]

I sure hope not. Dealing with vail has led me to ride less. My experience at hunter a few weeks back was so atrocious I haven’t ridden since. Elk seems to be doing fine the way they are. that being said, the place is not used to its potential. Mountain biking and other summer events would be great there.

if it was to get sold, I would hope it’s to the family that owns catamount and Berkshire east. It would be on a multi-pass but not of epic proportions. And those dudes have done fantastic stuff at Berkshire, catamount, and bosquet.

[momskeeztoo]

I’ve had an Ikon pass multiple years now, and I do like it. But we’re talking about going to a couple mountains next season that aren’t on any mega pass. 

[trackbiker]

2 hours ago, rgrwilco said:

I sure hope not. Dealing with vail has led me to ride less. My experience at hunter a few weeks back was so atrocious I haven’t ridden since. Elk seems to be doing fine the way they are. that being said, the place is not used to its potential. Mountain biking and other summer events would be great there.

if it was to get sold, I would hope it’s to the family that owns catamount and Berkshire east. It would be on a multi-pass but not of epic proportions. And those dudes have done fantastic stuff at Berkshire, catamount, and bosquet.

I agree. I just skied Berkshire East this past Saturday. They do a great job and would be a good match for Elk. They did a good job with Catamount so far.

Elk could add some glades and a high speed lift but otherwise leave it alone.

Corporate ownership would ruin Elk.

[EdBacon]

I can't see KSL or Vail buying Elk. Just a vibe, but I just can't see it. 

[mgguy]

Agree on the family that owns Berkshire East. Well run place. They also have the big farm Warfield House Inn across the road that is a bed and breakfast/ events location that is absolutely worth staying at. Have done it twice and they can handle groups from a few people to like 30 or more. Highly recommended!!! Mt. Snow is also only about a 1/2 hour away too.

[GrilledSteezeSandwich]

2 hours ago, EdBacon said:

I can't see KSL or Vail buying Elk. Just a vibe, but I just can't see it. 

Depends how their skier visits and Books look. 

[Old Geezer]

Losing Elk to the big corporate skiing giants would be a gain for Plattekill and Bellayre.

[momskeeztoo]

10 hours ago, Old Geezer said:

Losing Elk to the big corporate skiing giants would be a gain for Plattekill and Bellayre.

True. Plattekill and the Bell are a haul for most of us, but not folks living near Elk 

[Shadows]

Vail is buying bromley

[paul45]

On 1/23/2024 at 5:59 PM, GrilledSteezeSandwich said:

Depends how their skier visits and Books look. 

I don't think anyone on the East Coast's books look too good this year. Been a whole lotta electricity dollars melting down the hill and overtime pay to replenish it. 

[GrilledSteezeSandwich]

44 minutes ago, paul45 said:

I don't think anyone on the East Coast's books look too good this year. Been a whole lotta electricity dollars melting down the hill and overtime pay to replenish it. 

I’m sure they’re going to look at several years of revenue and expenses so they can pin an asking price. 

[NMSKI]

4 minutes ago, GrilledSteezeSandwich said:

I’m sure they’re going to look at several years of revenue and expenses so they can pin an asking price. 

Correct.  This plus other information would go into a Monte Carlo simulation to come up with a price.

[trackbiker]

On 1/27/2024 at 9:45 AM, Shadows said:

Vail is buying bromley

I don't think so. It's managed by the Fairbanks group who also manages Jiminy Peak and Cranmore. I think the ownership is one of the usual real estate companies that holds the real estate for tax and liability reasons.

[Schif]

I know this didn't work well for Montage, but I wonder if the government would ever consider buying up just the land that a ski resort is operating on. 

Aren't a lot of resorts out west just operating on public lands? I would envision the state of Pennsylvania getting involved. Sure it would be a big outflow of cash in the short term, but those funds would likely get put into improvements at the mountain and then the Commonwealth would have some income from leasing it back to the resort company in perpetuity (or until winter stops happening in PA). 

[trackbiker]

50 minutes ago, Schif said:

I know this didn't work well for Montage, but I wonder if the government would ever consider buying up just the land that a ski resort is operating on. 

Aren't a lot of resorts out west just operating on public lands? I would envision the state of Pennsylvania getting involved. Sure it would be a big outflow of cash in the short term, but those funds would likely get put into improvements at the mountain and then the Commonwealth would have some income from leasing it back to the resort company in perpetuity (or until winter stops happening in PA). 

Laurel Mountain and Denton Hill are both state owned. Lauren was updated with a new lift and lodge renovation several years ago and is currently operated by Vail.

The same is planned for Denton Hill. At first no one bid on operating it. Now I think some locals will operate it in the next year or so after a new lift and upgraded snowmaking are installed.

I don't think the state would be interested in owning Elk. It wouldn't be hard to find a private company to  buy and operate it.

[JFskiDan]

i think the state hates the fact they own Denton Hill, and are just super happy they have found someone to "try" to run it, however, i just feel like this isnt going to go well, but thats just my gut.  Unless you are Vail, or Alterra with deep pockets and multi mountian passes, buying/running a ski resort in our area, with limited season and huge operating costs with snowmaking, is a loser.  

I think they will throw money at Denton with the best intentions, then throw more money after it to improve ROI, and then it will be scraped again.  (fyi, im not against the state throwing money at anything ski related)

[trackbiker]

1 hour ago, JFskiDan said:

i think the state hates the fact they own Denton Hill, and are just super happy they have found someone to "try" to run it, however, i just feel like this isnt going to go well, but thats just my gut.  Unless you are Vail, or Alterra with deep pockets and multi mountian passes, buying/running a ski resort in our area, with limited season and huge operating costs with snowmaking, is a loser.  

I think they will throw money at Denton with the best intentions, then throw more money after it to improve ROI, and then it will be scraped again.  (fyi, im not against the state throwing money at anything ski related)

The biggest problem with Denton Hill is it's in the middle of nowhere with a low population density. I always wanted to check it out but I can be at a lot of other larger places in half the time. Their best option would be to get any schools in decent driving distance to start after school programs.

[JFskiDan]

59 minutes ago, trackbiker said:

The biggest problem with Denton Hill is it's in the middle of nowhere with a low population density.

Bingo.  

[momskeeztoo]

We camp out that way sometimes. Drove past there, stopped and checked it out, doesn’t look like much. It may be better off as a mountain biking/ hiking area. I can’t see it making it as a ski area.