Windham Mountain Going Private?

[Benny Profane]

What happens to your lifetime membership when they file chapter 11?

Tom

Pretty sure that's what killed the Killington lifetime pass. Bankruptcy.

 

[snoloco]

The original company, S.K.I. Ltd, sold lifetime passes. When ASC took over, those passes continued to be honored. When ASC broke up, Powdr bought Killington, and they only found out about the lifetime passes very late in the deal. Since that had a significant impact on their pass revenue, they decided not to honor them anymore. The reason that acquisition was different than when ASC bought S.K.I. Ltd, is because while ASC bought the company, Powdr only bought the assets, and wasn't obligated to continue honoring the passes sold by the previous owners. I don't think ASC ever actually filed bankruptcy, but they were crushed by their debts, and had to sell off all their assets to cover them.

 

[Benny Profane]

So, bankruptcy.

 

[tirolski]

So, bankruptcy.

Nah, they just sold all their stuff and went poof into thin air.
If they went bankrupt the bankruptcy judge may have threw the lifetime pass holders a bone.

 

[TheGreatAbyss]

OOC How much did they cost in their final year?

If you buy a lifetime pass to a ski mountain given the history of the industry I have very little sympathy for you when it becomes worthless.

I still feel like "The Club' is just a poorly executed gimmick to sell much more expensive lift tickets and move up market.

 

[Benny Profane]

They were sold way back in time, so, essentially, most of the original buyers were no longer lifetime, if you know what I mean, but I think they did have a pass down to kid clause.

 

[Benny Profane]

Nah, they just sold all their stuff and went poof into thin air.
If they went bankrupt the bankruptcy judge may have threw the lifetime pass holders a bone.

Actually, no. I'll bet the lifetime pass holders were way back in line for that.

 

[tirolski]

Actually, no. I'll bet the lifetime pass holders were way back in line for that.

Back in line and sued a couple times and lost. Might’ve even lost some bones paying for their lawsuit.
Ya mustn’ve comprehended the article linked in the previous page.

 

[Milo Maltbie]

They were sold way back in time, so, essentially, most of the original buyers were no longer lifetime, if you know what I mean, but I think they did have a pass down to kid clause.

Those passes were tradable, and IIRC a few were traded for as much as $4000 the year before Powdr took over. Powdr eventually agreed to honor at least some of the passes for a limited time.

mm

 

[Milo Maltbie]

Back in line and sued a couple times and lost. Might’ve even lost some bones paying for their lawsuit.
Ya mustn’ve comprehended the article linked in the previous page.

The state of Vermont was mentioned in the lifetime passholder agreement, but when ASC sold K the VT attorney general threw the passholders under the bus. If the state had backed up the passholders, they might have gotten a better deal.

In other news, ASC had a Ski East pass for all their properties. When they sold Sugarbush, passholders who had purchased passes even a few weeks before the closing, had to choose between a Sugarbush pass or a Ski East minus the Bush. Thre was no reason that everyone should not receive both passes. That's what they paid for. Apparently there were no lawyers in that among the passholders.

mm