Whoa. Killington sold.

Not to be a wise ass.
Did you think a bunch of local lawyers and deli owners got together.
Wasn’t the past owner of sugarbush a ex wall str guy.
How do you make a small fortune in the ski bizz? Start with a large one.
Well, yeah, that's key. These people aren't known for throwing their money into a bonfire. They both have a vision or game plan for them to spend this money. We'll just have to wait and see what that is. I'm skeptical that the price of beer will be cheaper, though. Thankfully I've shifted to a mostly western and Europe focus in late life. Killington will only see me five days, at most.
 
Wasn’t the past owner of sugarbush a ex wall str guy.
How do you make a small fortune in the ski bizz? Start with a large one.
Yeah Win Smith former executive vice president of Merrill Lynch, actually did great job running Sugarbush in my opinion and I was a pass holder for 5 years while it was under his management and ownership. I definitely don't love big banks or their executive but some of them actually know a thing or two about securing adequate financing and have a real passion for skiing. I completely understand the apprehension twords the guys that just bought KMart but sometimes these things do actually work out. The whole base village development nonsense does make this whole thing seem potentially a bit more shady, I do wonder how that will really pan out in the current economic environment.
 
Not to be a wise ass.
Did you think a bunch of local lawyers and deli owners got together.
Wasn’t the past owner of sugarbush a ex wall str guy.
I was just about to post that. Everyone loved him and how he ran the Bush but he was NY$ not a VT local. I never bought into it, SBush feels like a country club (then again, it was mascara mountain before that). But everyone else seemed to love what him and the other owners did with the place.

The bigger question is are we about to see a corporate exodus from other areas and a portfolio shrinking? Maybe corps trying to get out at the peak of value?
 
The bigger question is are we about to see a corporate exodus from other areas and a portfolio shrinking? Maybe corps trying to get out at the peak of value?
This is an excellent point. It feels as though we're on the downside of peak value. This could be just the beginning of the corporate dump.
 
If you gonna buy something incredibly expensive that has a 5050 chance of losing money you best be loaded right?

Will the beast live on?
 
In an era of rapid consolidation, it's surprising to see such a large resort go the opposite direction. Powdr was far from perfect. They did a few large capital projects, but went many years between them. Their infrastructure is aging and needs to be overhauled or replaced. I think there's always some concern about one's home mountain changing hands, I think "the devil you know" is the saying. I know the new owners might not be "real" locals, and they're independently very wealthy, but a new owner with deep pockets might be exactly what Killington needs to fix a lot of the shortcomings that have developed in the last few years.

In my opinion, there are 3 things that need immediate attention. First, replace the Superstar lift. It's on its last legs, and having it go down for any length of time would be devastating. Second, replace the Skyeship cabins. They are in very poor condition with missing/broken parts, and many cabins were tagged out last season, leading to a loss of capacity. It seems parts are harder to come by than they used to be. Third, improve reliability of the snowmaking system. So much valuable time has been lost the last few seasons due to pipe blowouts and other issues. Fix those issues in the short term, and start implementing a plan for a full modernization, along the lines of what Sunday River and Belleayre have done. It really makes a difference, and doesn't require a large one-time investment like lifts and lodges do.
 
In an era of rapid consolidation, it's surprising to see such a large resort go the opposite direction.
Private equity outside of the ski industry can't seem to shake off bad investments made with free money during covid fast enough. The outcomes are very interesting, like founders buying back their companies for pennies on the dollar vs what they sold it for. Kona Bicycles just got purchased back from Kent Outdoors by its founders, Troy Lee just bought back Troy Lee Designs from 2Ride Group. Hell, Penn Entertainment took nearly a $850 million loss selling Barstool back to Dave Portnoy. Kinda love hearing these stories. Frankly I wouldn't be surprised if similar things begin happening more frequently with ski areas bought up by Vail and Powdr now that monies not free and folks have less spare cash for things like skiing. It's likely overly optimistic but maybe we will see more community ownership models spring up to rescue mountains getting sold off by the big guys.
 
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