Stuart talks to Alterra CEO (IKON)

[Benny Profane]

Never trust a man who uses the word experiential. Exit signs should be scanned for if he says his company had an aquisition thesis. Then there's the gold tried and true "optionality". Gawd, that word.

Podcast #138: Alterra Mountain Company CEO Jared Smith

“We don’t make it easy at all for people to come enjoy our sport.”

www.stormskiing.com

Barely a word about skiing. I dont blame Stuart, he was talking to a wall, probably with PR staff and lawyers listening in. Besides, another big time corporate skiing CEO who didnt learn to ski until late in life, on "family outings at Mammoth", never bummed, never pushed chairs or soup in a bowl or beers, never really worked at a hard job. He's proud of making his bones running a company that is like a parasite on the side of the concert and sports industry for a long time, a monopoly that has destroyed the experiential experience of seeing music live, because, in the end, only the rich get good seats. High end scalper. And now he wants to cater to the 10% in the skiing industry, F the rest. I know, it's somewhat affordable now, but, that's not the goal. The goal is Deer Valley everywhere. Money.

Very discouraging for the future of skiing in North America.

I am an Ikon customer, going into 23/24 with a full pass. As long as my buddy has a condo in Snakedance at Taos and still whines that he needs my company, along with Killington, Sugarbush, and Stratton, a no brainer. Still, I am under no illusion that leadership like that in the industry is bad news for real people. And, I will bet you a hundred bucks that this guy has offered to, or will offer to, buy Epic. Monopoly power. Just like Ticketmaster. Ain't nothing better than monopoly power in capitalism.

I had a boss like him a few levels up in a really big corporation. Nobody liked him, but he didn't care.

End of rant.

 

[Brownski]

leadership like that in the industry is bad news for real people

When you’re right, you’re right

 

[Andy_ROC]

Benny you summed it perfectly and I agree with on every single point. I listened with high hopes and ended up disgusted and sad.

He's really the opposite of Rusty and would make great Vail material.

 

[Benny Profane]

Oh, there was something I forgot. When guys like this talk about their mentors or predecessors, or "team" members, it reminds me of that unprintable phrase Winston Wolf used in Pulp Fiction.

 

[Adirondack Johnny]

S#@tbags gonna s#@tbag...

 

[tirolski]

Barely a word about skiing.

Listened for a bit.
Didn’t hear the word “snow” used.
The word “ski" was used in "ski business", "ski company”, “ski trip”, “ski vacation” or "ski industry”, not as a verb.

 

[snoloco]

Haven't listened to the podcast yet, but being from Ticketmaster is not a good sign.

I will also note that so far, Alterra has spent like crazy on Steamboat, Winter Park, Deer Valley, and Palisades Tahoe. Mammoth is getting a new lift this year and next, so they might be moving into the top tier, but everyone else has gotten next to nothing.

Sugarbush is only getting new lifts next year because they have to. The ones they are replacing are on their last legs.

And what the hell happened with Tremblant? They are the second most visited resort in Canada, only behind Whistler Blackcomb. They're bursting at the seams and need to expand. Their planned 2021 expansion was cancelled. They got one new lift back in 2018, and the rest of their main lifts were built in 1988, 1991, 1993, 1993, 1994, 1994, and 1998. All of these are at replacement age, but there seems to be no plan to actually replace them.

 

[Tjf1967]

Haven't listened to the podcast yet, but being from Ticketmaster is not a good sign.

I will also note that so far, Alterra has spent like crazy on Steamboat, Winter Park, Deer Valley, and Palisades Tahoe. Mammoth is getting a new lift this year and next, so they might be moving into the top tier, but everyone else has gotten next to nothing.

Sugarbush is only getting new lifts next year because they have to. The ones they are replacing are on their last legs.

And what the hell happened with Tremblant? They are the second most visited resort in Canada, only behind Whistler Blackcomb. They're bursting at the seams and need to expand. Their planned 2021 expansion was cancelled. They got one new lift back in 2018, and the rest of their main lifts were built in 1988, 1991, 1993, 1993, 1994, 1994, and 1998. All of these are at replacement age, but there seems to be no plan to actually replace them.

If it ain't broke don't fix it.

 

[Peter Minde]

I tried to listen to the whole entire thing. Really, I did. I bailed out after 25 minutes. As @Benny Profane observed, too much corporate newspeak.

Too many softball questions IMO. But what do I know.

 

[Benny Profane]

Too many softball questions IMO.

I give Stuart credit for talking like a real life human with a budget and skiing habit, when he itemized specifically the price rises in the Ikon pass, asking, basically, hey, how far is this going to go, and the answer to that was a ridiculous word salad that meant nothing, and I think our CEO felt a bit offended that his vision was questioned.