Greek Peak---SOLD

Do we know if the closing definitely occurred today?

Yep, done deal. We oficially have new owners. Another positive is our little town of Virgil will get the 2 million owed to them in back taxes.

Excellent!

Let's hope they at least do a little maintenance this summer.

Just picked up my season pass :) I hope they cut more glades over the summer! Maybe they could do a volunteer day like Platty does.

where's the snow wrote

Just picked up my season pass :) I hope they cut more glades over the summer! Maybe they could do a volunteer day like Platty does.

I doubt we'll see any new trails for a while. Don't get me wrong it would be nice, but they'll have their hands full bringing the place back from the dead. Atlas and Electra are 2 existing trails they could use by just cutting brush and a few trees along the sides. They're both fun.

The other reality is that it will likely be a lean year, as they purchased the place right after ski season and need to fund it during the off season, without the revenue of ski season sitting in the bank.  Of course, I'm sure that was factored into their low purchase price.

Anyone have any idea how many season passes they typically sell?  I heard a number a few years ago that I found truly hard to believe.

Rj - I think the season pass sales should give them some decent operating cash flow to get through the summer with a reasonable amount of fix-up and maintenance.

Good point, Billy.  I totally forgot that the FDIC let them keep that money.  The other reality is that they pre-pay their winter electric bill in order to receive a fixed rate. I know the Kryger's needed the $2M loan over the summer in order to meet expenses, including the electric bill.  

I reached out to my pal ATSD, he has a curse of remembering everything . He recalls hearing GP sells roughly 3000 to 4000 passes. We both agreed that sounded high to us but you never know.

campgottagopee wrote

I reached out to my pal ATSD, he has a curse of remembering everything . He recalls hearing GP sells roughly 3000 to 4000 passes. We both agreed that sounded high to us but you never know.

Camp - the number I heard was WAY more than that, so you can see why I'd find it hard to believe.  I really can't even remember where I heard it, but the only thing that seems to come to mind is that one of the workers at the season pass window made a comment when I said something about having all those books of receipts behind the window, before they got things on the computer so it was many years back...probably 7 or 8 at least.  

It never made sense to me, especially based on the skiers you see out there every weekend.  I often wondered if non-locals were buying season passes because it was cheaper than buying day passes if they came up for a few long weekends a year.

Anyone interested in purchasing townhouse at GP? I am selling myself - all updated - built in 1979.....

Arla this is your third post on your real estate for sale.

I deleted one and moved the the other where it belongs in the Gear for Sale Forum AND enabled the links for you.

And warned you about it by PM.

Give it a rest.

Try craiglist.org

Noticed on Greek's facebook page, that Greek won a "2013 Golden Eagle award" from the National Ski Areas Association, for Environmental Excellence for a medium sized ski resort. Big Al K and his wife were in Calif. to accept the award.

What does Greek do to win this?

https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&ved=0CC4QFjAA&url=http%3A%2F%2Fwww.nsaa.org%2Fmedia%2F141760%2Fgea_finalists2013__2_.pdf&ei=gq-HUa-TGsar0AGP3YDoBg&usg=AFQjCNFFBG0wEfKneIYqZ5fDuw2tvG-8QQ&sig2=lZqbGi5jtfrkGn33RV_1Bg&bvm=bv.45960087,d.dmQ

I believe the award was the result of all the green initiatives at the Lodge.

I'm just amazed that gp is a medium sized resort!

Well if Alta and Snowbird are also medicine size resorts I guess because they both got this award to.

GP claims 250,000 skier visits.

Heard that the new owners just let Tom Hatfield (chief financial officer) go. Al Kryger will now hold an advisory position. Wes Kryger now VP of ski area.

Five others were also let go, including two accountants.