Tahoe '23/'24 - Reserve Now For Best Pricing!!!

[TahoeJ]

That’s one hell of a gaslighting press release…

[Eastside]

Somewhere is some poor bastard who rode Homewood every day, just seething

[Gman]

Is the viability of Homewood contingent on the development plan? Wouldn’t that mostly be a one time infusion of cash? How much money do resorts get through public tax/community assessments?

To me this seems like a situation where some private owners got sour grapes about the lack of progress on their development and took their toys and went home but in this case their toys are a ski resort.

[skysos]

Whatever plans they have, if they close the resort for a season the value of the asset drops. All that stuff needs to be maintained. Once it sits for 2-3 seasons it's a massive undertaking to get it going again. It's an incredibly dumb business move which can be added to the long list of incredibly dumb business moves they've made.

[TahoeJ]

Is the viability of Homewood contingent on the development plan? Wouldn’t that mostly be a one time infusion of cash? How much money do resorts get through public tax/community assessments?

To me this seems like a situation where some private owners got sour grapes about the lack of progress on their development and took their toys and went home but in this case their toys are a ski resort.

Yep, that’s pretty much it. Stealing this from a friend: “JMA Ventures is to ski areas as John Fisher is to baseball.”

[Eastside]

Yep, that’s pretty much it. Stealing this from a friend: “JMA Ventures is to ski areas as John Fisher is to baseball.”

That bad eh?

[old goat]

Unconfirmed wolf sightings in Hope Valley.

[~mikey b]

confirmed cougar sightings in Squaw Valley

[old goat]

confirmed cougar sightings in Squaw Valley

I can confirm. Some decent bands too.

[Gman]

Can you skin homewood if it’s not going to be open this year?

[lepistoir]

Can you skin homewood if it’s not going to be open this year?

Of course not. There will be guards at the base to make sure if they can't use it however they want, ain't no one using it at all.

[powdork]

Whatever plans they have, if they close the resort for a season the value of the asset drops. All that stuff needs to be maintained. Once it sits for 2-3 seasons it's a massive undertaking to get it going again. It's an incredibly dumb business move which can be added to the long list of incredibly dumb business moves they've made.

They are a real estate company. The one rule is to maintain the value of the real estate and they're blowing it

[SnowMachine]

I know little about the HW fiasco, but they certainly seem like the kid rolling around on the ground whining because their parent wouldn't let them have the candy.

I predict HW goes private. It all feels the same these days. People put up a huge fuss, things get delayed a bit, then the rich gorilla in the room gets what they want.

Homewood Was???

[~mikey b]

read up before you write

[old goat]

Where's the fun in that. Ban real time fact checking.

[Truckee Joe]

I predict HW goes private. It all feels the same these days. People put up a huge fuss, things get delayed a bit, then the rich gorilla in the room gets what they want.

Homewood Was???

People have no idea what they are fighting. This move could also cost Cindy the election, Not a good look for her making money pick up and leave town.

Yellowstone club can afford to let that report sit for years. It will rebound (monetarily) very quick. Zuck is in the neighborhood now, maybe he will buy it.

[SnowMachine]

read up before you write

Enlighten me. I've done some reading, but like I said, I know little about it.

I said what I said. They aren't profitable. I doubt they'll become profitable. Investors like money.

I understand they're frustrated by not being able to move on their projects, but how does closing improve their outlook?

Like I said, enlighten me.

One thing I know is that there are huge wallets on the sideline that would love to have a clubhouse with a ski hill.

Edit: call me a pessimist.

[SnowMachine]

People have no idea what they are fighting. This move could also cost Cindy the election, Not a good look for her making money pick up and leave town.

Yellowstone club can afford to let that report sit for years. It will rebound (monetarily) very quick. Zuck is in the neighborhood now, maybe he will buy it.

It's a land holding and they have capital. What's the game, though? At this stage we have all but proven that a stand alone public resort won't be profitable. Am I wrong?

[old goat]

It's more of the same. More and more the only value that matters is money. Ski areas were started by people who loved skiing. Doctors took care of people instead of generating profit for private equity. Public schools taught kids; now charter schools lie to parents to make a buck. You've heard it all ad nauseum.
What we've gained in high speed detachables we've lost in joy.

[TahoeJ]

It's a land holding and they have capital. What's the game, though? At this stage we have all but proven that a stand alone public resort won't be profitable. Am I wrong?

A stand alone resort can be profitable / sustainable. Just not profitable enough for investment bankers. They want people to believe that.

[Cono Este]

I know one of the investors, rumor is they are playing hardball with the local,govt to get the approval they want to go private.

I heard they may spin chairs for family and friends. Hoping I can weasel into that.

[bodywhomper]

I know one of the investors, rumor is they are playing hardball with the local,govt to get the approval they want to go private.

I heard they may spin chairs for family and friends. Hoping I can weasel into that.

That’ll all be interesting to watch from the sideline….

[SnowMachine]

It's more of the same. More and more the only value that matters is money. Ski areas were started by people who loved skiing. Doctors took care of people instead of generating profit for private equity. Public schools taught kids; now charter schools lie to parents to make a buck. You've heard it all ad nauseum.
What we've gained in high speed detachables we've lost in joy.

Exactly the point I was originally making. Viability is relative these days. It seems like every year I hear of another small resort closing down.

[SnowMachine]

I know one of the investors, rumor is they are playing hardball with the local,govt to get the approval they want to go private.

I heard they may spin chairs for family and friends. Hoping I can weasel into that.

Same thing I hypothesized. I doubt the resort ever reopens as a thing resembling the resort it once was.

[SnowMachine]

A stand alone resort can be profitable / sustainable. Just not profitable enough for investment bankers. They want people to believe that.

Right, but it takes several things to make this happen. Capital to buy the land/equipment and a desire to work your ass off for a very modest profit.

Outside of creating a new resort where land is cheap (The Rubies) a small, privately owned public, resort is not viable without having money to burn.