Greek Peak---SOLD

Wedeler had to be there in the 50's.....truly the core of old school....did u ski snow crest too???

Anyway, there were at least 50ish cars at the hotel yesterday morning. Was told by a buddy he hadnt seen mid week crowds like that in forever.....i was outta there by 11 so we missed the masses.

Marcski wrote

o.k.  So what was the business plan?  Where are the people?  Why couldn't they pay their debt?

I think they went by the field of dreams business plan - build it and they will come.  The previous owners clearly had no understanding of what they were getting themselves into by taking on all that debt. Nor did the lending bank obviously.  In today's world there is no way GP would get even 1/3 of the loans they received, but the loose lending practices of the mid 2000's led them down the gilded path of doom.

Season pass is so cheap, I was thinking of Elk ,but their price is 3 times the price, and I haven't been to Greek ever, yet.

Heard the new owners will try and sell HLL and Adventure Center--their primary focus is the hill

To me that makes sense and is GREAT news for we the skiers

Evem if they only sell it for the 7 million  they'll be free and clear on the hill. I would think they could get that, I mean, it cost 40+ million to build

I did not hear about the new owners selling the lodge.  I would question the value in breaking up the assets, as owning just the lodge would be a risk, given the physical condition of the mountain.  With little exaggeration, the mountain is worth very little more than the land value.  Quite honestly if someone were interested in just the lodge, why wouldn't they have bid on it.  Plus, keep in mind that 51% of the units are already sold.  Any units the new owners sell, helps pay down their debt.  I certainly would not purchase the lodge, without having control of the ski area or land behind the lodge.  Even if I could grab the lodge for $4M,I could not stomach the risk of the ski area failing.

If what you heard is credible, an even larger red flag would go up in my opinion of the new owners.  I really don't think these two gentlemen have much money.  They bought the entire resort for what some homes cost.  The lodge can make money if they invest in the mountain.

In terms of the adventure center, about $3.5M was spent on that.  It's far too labor intense during the warm months to make much of a go out of it.  I understand the concept, but the "build it and they will come" approach didn't work.  You can drop the prices, but again, I don't believe it's much of a price point issue.

Evidently, some kind of expansion is being contemplated?????

"Today, U.S. Senator Charles E. Schumer secured a commitment from the new owners of Greek Peak in Cortland to preserve the nearly 1,000 jobs at the resort and add new ones during an expansion that is being considered."

I don't doubt that they will sell the lodge and waterpark in the future, but only after they've spent some time getting customer visits and revenue back up.  They're making a good effort already with season pass pricing that has people excited.  I know 3 new passholders already, plus one family that was going to not buy passes for next year but have decided to after they saw the new pricing.

These guys are businessmen. They aren't dummies. If they boost visits and revenue, in two years they can probably sell the lodge and waterpark for what they paid for the whole place.  I'd be very surprised to see it happen before 2015 though.

i would assume they arre referring to trail expansion, golf course, and bike park that are all part of the previous master plan - i sure hope all those are still on the table.

I would love for the new guys to seriously consider mtb on/around  the mountain - both lift assisted and xc! big al was never too receptive to the mtb thing. snowmonkey if your'e around maybe you and the cycle-cny/imba peeps could get together and make a pitch to these guys, i'd be willing to lend a hand!

gorgonzola wrote

 

I would love for the new guys to seriously consider mtb on/around  the mountain - both lift assisted and xc! big al was never too receptive to the mtb thing. snowmonkey if your'e around maybe you and the cycle-cny/imba peeps could get together and make a pitch to these guys, i'd be willing to lend a hand!

+10000000000

i'm in too

Further proof a change is needed.....

I called the snow phone yesterday morning to see if GP had groomed, (for some reason that was going to be the deciding factor on what pair of skis I was going to ski on), and I was shocked  at what the message said. "Due to the forcast of clouds and chance of rain the ski operations will be closed" ----huh , so I called back, "Due to the forcast of clouds and chance of rain the ski operations will be closed"------I burst out laughing at the dumb fuks. Seriously, who closes a ski area in CNY "due to the forcast of clouds and chance of rain".--- AMAZING!!!

So, what to do on a day with a forcast of "clouds and a chance of rain". I decided to tempt fate and take my dogs for a walk in the woods. I was shocked at all the wildlife we saw on this very dangerous day forcasted for "clouds and a chance of rain", I mean, shouldn't have all the deer and turkey taken cover???? Did they somehow not get the message??? I feared for them. As if tempting fate once wasn't enough I did it again by going for a bike ride.I was fearful for taking such a chance, seriously, what if the weather police saw me riding my bike when there's a forcast of "clouds and a chance of rain", but they never did and I made it home safely.

Clouds gave way to blue sky and sun by 9AM, temps hit 60, and it was a beautiful day.




BRING ON THE NEW OWNERS!!!

That was a serious WTF moment Camper!! Sounds like sumbitch got cheap ,

Hey is it too erly 2 b blastin chucks ???? . Well at least ya gave the dogs. Work out so the dy was not a. Loss .


As for the Orange, great season  , this game had decent defense BUT ooooh man the sr leadership did not show up , too bad Trish didnt stop and pop from the line or dish it off , from the replay he looked right at the dude posted up for a charge .... O well he tried but dayum a deuce there was critical. CJ played a fantastic game and i laffed my azz of when ole JB ate that reporters lunch for him after the game

pretty good season

warp daddy wrote

That was a serious WTF moment Camper!! Sounds like sumbitch got cheap ,

Hey is it too erly 2 b blastin chucks ???? . Well at least ya gave the dogs. Work out so the dy was not a. Loss .


As for the Orange, great season  , this game had decent defense BUT ooooh man the sr leadership did not show up , too bad Trish didnt stop and pop from the line or dish it off , from the replay he looked right at the dude posted up for a charge .... O well he tried but dayum a deuce there was critical. CJ played a fantastic game and i laffed my azz of when ole JB ate that reporters lunch for him after the game 

pretty good season

That was classic JB fer sure---i damn near peed my pants too

Yeah, GP is sad, very sad right now. That's the bad news, good news is the monkey doin the nasty to the football is almost over. Closing for the new owners is 4/19

yea i couldn't believe it when i called yesterday morning - my guess the F-DICk's pulled the plug to stop the hemorage but really, rain and clouds (forecast was like 30% chance  SHOWERS) ?!!??! at least be honest and say it - CLOSED TO SAVE MONEY CUZ WE ALREADY HAVE THE PASSHOLDERS DOUGH AND DUE THE LACK OF SKIERS WILLING TO OVERPAY FOR AN OVERPRICED NON DISCOUNTED SPRING TICKET! was bummed as we were looking forward to closing out our season at greek.

me and junior headed to plattekill to take advantage of the $15 lift tix had a blast! time for biking unless we can make a tucks trip happen

gorgonzola wrote

yea i couldn't believe it when i called yesterday morning - my guess the F-DICk's pulled the plug to stop the hemorage but really, rain and clouds (forecast was like 30% chance  SHOWERS) ?!!??! at least be honest and say it - CLOSED TO SAVE MONEY CUZ WE ALREADY HAVE THE PASSHOLDERS DOUGH AND DUE THE LACK OF SKIERS WILLING TO OVERPAY FOR AN OVERPRICED NON DISCOUNTED SPRING TICKET! was bummed as we were looking forward to closing out our season at greek.

me and junior headed to plattekill to take advantage of the $15 lift tix had a blast! time for biking unless we can make a tucks trip happen

exactly--they did nothing but insult their loyal skiers--lamest of all things lame

Yeah, my guess is that the closing was FDIC related, as they are required to submit weekly reports to the FDIC.  With that said, who closes during the middle of the weekend.  I'm sure some of the guests staying at the lodge were expecting to ski both days.

I heard the FDIC forced the Sunday closure. Friday and Saturday was not busy enough to justify being open. Makes good business sense for the FDIC but as a season pass holder, I was shocked to see the place closed. All the main trails were fine!

The webcams went dark this morning - turned off for the season.  I looked at them around 7 this morning and they were on - just looked now and gone.  No updates on the site or phone about opening this weekend - but given what I saw on the webcams they're done for the season.

Good season, good outcome on the bankruptcy (so far)...time to ride and paddle.

closing set for tomorrow---fingers crossed everything goes as planned

really? i thought it was next friday, lets's hope all goes well

gorgonzola wrote

really? i thought it was next friday, lets's hope all goes well

WHOOPS....your right