EPic Pass or Icon - Discount for Covid?

[StopGroomingMoguls]

IMHO, at the very least the ski resorts should not jack up the prices for 20/21 season passes. The economy is tanking, more people will lose their job and we will have less disposable income.

Also, the ski resorts might open late for the 20/21 season because some sort of social restrictions are still in place. I know, it sounds crazy but flattening the curve to prevent our health care system from collapsing also means we're going to be in a somewhat restricted situation for quite some time. I'm not talking about a total shutdown but something less severe that prevents a ski resort from operating. One more reason to not increase prices.

[rideit]

I wonder if ski resorts would have kept operating in the early 30’s. Purely hypothetical, of course.

[old goat]

IMHO, at the very least the ski resorts should not jack up the prices for 20/21 season passes. The economy is tanking, more people will lose their job and we will have less disposable income.

Also, the ski resorts might open late for the 20/21 season because some sort of social restrictions are still in place. I know, it sounds crazy but flattening the curve to prevent our health care system from collapsing also means we're going to be in a somewhat restricted situation for quite some time. I'm not talking about a total shutdown but something less severe that prevents a ski resort from operating. One more reason to not increase prices.

I don't know if we'll still be distancing come next winter but as far as recession--even in a depression there will be people with money to ski. Most businesses have found that you can make more money selling to a few people dear than to a lot of people cheap. So don't hold your breath for cheaper passes. Although if you do, at least you won't get covid.

As far as sking in the the Great Depression goes--Sugar Bpwl opened in 1939 and was very popular with Hollywood celebrities, who had plenty of money. (BTW--both the Golden Gate Bridge and the Bay Bridge were built in the Depression, and the transcontinental railroad was started in the middle of the Civil War. Life goes on in the middle of national catastrophes. That may not be true for the current catastrophe by the time it's over though.)

[old goat]

Sugar Bowl is not offering any refund on this year's pass. They guaranteed 100 days open and they were well over that when they closed. They are offering a 30-75 dollar resort credit for renewal for next year. They didn't say anything about a refund if they don't open so I asked them about it, waiting for a reply. I'm guessing the same 100 day guarantee.

[mntlion]

marmot (jasper alberta) is doing early season passes (mid summer) at 30%ish off

[Toadman]

[Core Shot]

[jtran10]

https://www.vaildaily.com/news/vail-...-shareholders/

We continue to find ourselves living through an unprecedented time as the situation with COVID-19 grows more challenging, with everyone across our planet now dealing with very real and significant health risks and impacts. This crisis has hit the travel industry particularly hard. Currently, all of our mountains, lodging, retail, and transportation businesses are shut down and it is becoming less clear when things will start to reopen again. We reported two weeks ago that the early closure of our North American operations will cost the Company at least $180 million to $200 million in lost profitability in our third quarter ending April.

I am very hopeful that both the economy and travel will return to normal by the time our North American winter season opens eight months from now. However, we also need to remember that we have substantial business operations set to open over the next few months – our Australian winter season, Grand Teton Lodge Company, as well as our lodging, retail, and summer mountain operations at our North American resorts, which collectively represent more than 20% of our total revenue. With the very real possibility that the global stay-at-home orders could be extended, and travel reduced regardless, our business in May through October is at risk. We will work hard to reopen as soon as practical, but much of this is now outside of our control.

Because of these realities and to ensure that we can navigate the financial challenges ahead, we are taking certain measures, including some that will unfortunately affect each of our U.S. employees:

We are furloughing nearly all of our U.S year-round hourly employees as of April 4, 2020, for at least the next one to two months, without pay, but with full healthcare coverage for any impacted employee currently enrolled (the Company will pay all premiums).
We are implementing a six-month salary reduction for all U.S. salaried employees that starts at 5% for those up to Grade 27, 7.5% for Grades 28/29, 10% for Grades 30/31, and then rises up to a 25% reduction for our most senior executives.
I am giving up 100% of my salary during the next six months.
We are eliminating 100% of the cash compensation for members of our Board of Directors for six months.
We are suspending the Company’s 401(k) match for the next six months.
We are reducing our capital expenditures by $80-$85 million, with the intention to defer all new chair lifts, terrain expansions and other mountain improvements, while protecting the vast majority of our maintenance capital spending.
We are eliminating our June and September dividends to shareholders, saving the Company more than $140 million.
I recognize this is very disappointing news to be receiving and I had hoped we would not have to take this action. But with each passing week, the financial consequences have become more apparent. To our year-round hourly employees, I am so disappointed that the vast majority of you have not been able to work these past three weeks and I assure you we will end the furlough as soon as possible once we have clarity on our business reopening. To our year-round salaried employees, who are working from home, in many cases harder than ever, I truly am sorry to have to ask you to give even more by accepting a salary reduction – we are asking everyone to accept some sacrifice so that we weather this storm together and are ready to come back strong for next winter. For those of you with questions, your leader will be reaching out to discuss the situation with you over the coming days.

I am sure many of you are wondering if these actions will be enough. Will there be more changes coming? Once again, if I am honest with myself, I have to give the toughest answer for any CEO – I really don’t know. It’s possible that things could quickly improve. But it’s also possible these challenges may force us to materially delay or cancel our upcoming summer season. In that case, more measures might be needed.

I have made decisions over the last few weeks that I never could have anticipated in my nearly 30 years working in the ski business. I recognize the impact of today’s decisions on you, and I do not take them lightly. I am humbled and grateful for your passion and dedication to each other, our communities and our industry – it’s what makes our sport and this Company so special. Please know, I am fully committed to help steward our Company and our entire industry forward so we can all continue to thrive in the mountains for years to come. During this challenging time, please continue to prioritize your health, safety and wellbeing.

Rob

[Toadman]

Maybe they will run one or two lifts on weekends next season depending on how COVID-19 part II goes?

[Long duc dong]

By no means do I think there should be or will be a discount based on a pandemic taking hold and humans needing to shelter in place to keep it from spreading and resorts doing the right thing and closing down before mandated by laws.

That said, your comment is asinine. Not everyone has the same plan as you. Due to my family's schedule, we do most of our skiing March, April and May. That is when we have places to stay due to our friends home being free to use from mid-March on, when they switch to lacrosse and whatever they do when they think ski season is over.

We did get our money's worth already, but that does not mean everyone has. Some folks just prefer spring skiing anyway. I know several pass holders that have skied 2-4 days this winter, with several planned trips this March and April. So they did not get their pass worth. Down to about $157 - $314 per day.

I was scheduled to go to Mammoth from the 21st to the 29. I am most bummed about missing the skiing, not that I won't get worth out of my pass. I am at about 25 days for the season, with around 15 of those at Mammoth and 10 at Baldy. That is partially by choice, I have a 5 day trip, two three day trips and a couple of two day trips at Mammoth so far and I have decided to stay here and ski baldy/surf on a couple of occasions. I could have spent more time at Mammoth, it has been a choice to not go on a couple of weekends, but with 15 days and 10 at Baldy I don't really think I am getting hosed on the pass. Plus, like I said Mammoth has been open on plenty of weekends when I have decided not to go. Because I had a 9 day trip and at least 3 more weekends, probably a couple of three days and a two day, I got about half the Mammoth days I would have without the virus.

We have our ski lease through May 20. I don't know if we will be able to use it again. It is a sunk cost.

I don't see the resorts giving people any money back. In Mammoth's case they are losing about 3 months, more if they were going to go to the fourth of July, but they have been open since early November, so they would probably argue that everyone has had the opportunity to get some days, regardless of whether or not they exercised it.

But yeah, I would say that while people have had the opportunity to get their money out of the pass, cutting the season short by at least 2.5 months is going to really hose certain people, particularly those that, like me, ski a lot in the spring.

While it does sort of suck, obviously people getting their worth of the pass is not a huge deal globally.

[Leshphilling77]

What I’m wondering is if they are still going to hold to their deadlines for pass purchase/ renewal for 20/21.

[galibier_numero_un]

What I’m wondering is if they are still going to hold to their deadlines for pass purchase/ renewal for 20/21.

The overarching question for you is whether you expect there to be a ski season next year.

I'm setting the over/under at Feb. 1st.

I'm viewing waiting it out at the risk of higher prices as the equivalent of pass insurance.

... Thom

[Kevo]

Aren't all the models predicting the virus to be way worse next winter than right now?

[wolfelot]

Aren't all the models predicting the virus to be way worse next winter than right now?

Yikes. I have not yet heard that.

I’m holding off on buying a pass for quite awhile. I’m playing wait and see.

[Core Shot]

Aren't all the models predicting the virus to be way worse next winter than right now?

Haven’t heard that but wouldn’t surprise me.

This will comeback next winter.

The key is antibody testing. Knowing you had it and can go back to work.

[Fritz]

I’ll just put this here: Vail to merge with Alterra - https://unofficialnetworks.com/2020/...nounce-merger/


Sent from my iPhone using TGR Forums

[Core Shot]

I’ll just put this here: Vail to merge with Alterra - https://unofficialnetworks.com/2020/...nounce-merger/


Sent from my iPhone using TGR Forums

Yesterday’s news. You almost got me. Lulz

[Fritz]

Lol


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[paulster2626]

Aren't all the models predicting the virus to be way worse next winter than right now?

No.

Please show such "models."

[alpinevibes]

Q&A with SkiCo's CEO Mike Kaplan this week. Probably doesn't relate to IKON, potentially Aspen Premier Pass Holders ($1500-2400 for a full season pass):

AT: Will ASC refund season pass holders for the unused portion of their passes?

MK: Refunds are not likely, as season passes are not sold on a per use basis. However, we are looking at what we can do to recognize the season was shortened and offer value to pass purchasers. We also want to wait and see what happens the rest of spring and remain committed to reopening if state and local officials lift their orders and are comfortable doing so. That seems to be less and less likely, but we are maintaining our optionality for Highlands just in case things change. This entire shutdown and set of state and county orders are unprecedented and fast-moving. It’s hard to remember, but it’s still only April 1!

AT: Any idea yet how this season’s abrupt end will affect season pass prices for next season?

MK: We planned to go on sale with season passes in mid-March, but that was pushed back based on the COVID outbreak. The team is finalizing their plan so stay tuned for an update in the coming weeks.

[old goat]

The number one rule of skiing--ski when you can. You never know when the weather or snow will suck when you were planning to go, you get sick or hurt, the road will close, or a pandemic or asteroid hits. If you think the skiing will suck and you stay home you might have made a wise choice or you might miss an epic day. You snooze you lose. Or you wait and go when you're sure it will be a primo day and so does everyone else and you wind up with a 10 hour drive and 2 hour lift lines. And the mountain completely tracked out in 15 minutes.

[The AD]

I can't ever remember saying "shit, I should have worked today instead of skied."

[Toadman]

Like Warren Miller said, "No one on their death bed ever said, 'I wished I had worked more'!"

[nickwm21]

Are either of them offering any discounts for next year - since half the season's been cancelled.

Has anyone called to find out

Marty

Why don't you fucking call. Pick up the phone and ask the question if you are curious.

[bean]

Aren't all the models predicting the virus to be way worse next winter than right now?

Complex multi-variable predictive models are always wrong, the question is by how much. So far they've generally been off by orders of magnitude after only a week or two. Anyone trying to tell you what this will do 8-12 months from now is trying to sell you on something.