Peak Resorts Reports Results

no.. not 9-5..i wish a cubical...i am food service director for a college
 5:45am to 4 pm

They shut down Mount Snow this week.  It will reopen for the weekend.  Definitely a profit based decision as Stratton and Okemo are still open daily.  They have this big snowmaking project that is already in the works for Mount Snow that is supposed to double firepower.  It's supposed to be completed this summer so they can start using it by next season.  Construction was halted for the winter as required by their permit and scheduled to resume in the spring.

Got my $99 pass...
Couldn't afford a season pass this year - was riding with the discount card and the kindness of friends for tickets... :)

When this kicked in I picked up the pass that morning... Was on the mountain for lunch that day... :)
I had maybe 3 days before the pass and then rode every day for an hour or two...  Love it...

Peaks is cool.. They took care of my band(we can drink free now)..  And not this pass...
I'm simple person... Snowboarding, playing music  and getting hammered..

Now I get to use the chair all summer..  Festivals...
I'd be losing $$ if I didn't get it..

DMC in da house!!! How yo been bro?? Everything cool

campgottagopee wrote

DMC in da house!!! How yo been bro?? Everything cool

All good...  Living the dream..
Spilt up with my girl a while ago - had to give up the AFrame..  Moved back into my old farmhouse by the creek..

Been riding more and more - getting back up to speed..  :)

How you doing?

dmc_hunter wrote

campgottagopee wrote

DMC in da house!!! How yo been bro?? Everything cool

All good...  Living the dream..
Spilt up with my girl a while ago - had to give up the AFrame..  Moved back into my old farmhouse by the creek..

Been riding more and more - getting back up to speed..  :)

How you doing?

WHOA, must be something in the air ---- same thing here, except I got to keep my AFrame. In fact getting ready to dump some cash into it this summer (wedding  money I'd been saving) for a major reno.

Farmhouse by the creek sounds cool.

Not much skiing for me this year --- with my bad wheel I need soft snow(which we didn't get) or it's to painful to make it any fun. That said I didn't miss anytime at the bar

Looking forward to BeerBBQ season ---

Now they're saying that Mount Snow's West Lake project has a 50-50 chance of being completed in time for next season, which was what it was scheduled for.  This has me worried.  This project is extremely important to Mount Snow's future business.  They have very high snowmaking capacity, but a limited water supply.  This project is supposed to double it.  It has been on the table since 2008 and they started building it in 2014.  As per their permit regulations, they had to cease construction during the winter and resume in the spring.  Their debt load is now 118 million, and much of it has a 10% interest rate.  Not good.

Source: http://www.newenglandskiindustry.com/viewstory.php?storyid=420

Sno... this is (potentially) one reason why some of the older members here tend to accept the fact that expansion is done over time. Does Peak have to implode for you to acknowledge that a measured approach has it's advantages?

Most of us, in our lives, have dealt with regular income, regular expenses and taking on "capital improvements" in a smaller personal way.  We know that you can't assume you'll never miss a pay check, or in this case have a bad winter.

I read it off Alpinezone, which copy and pasted it from there.  

http://www.newenglandskiindustry.com/viewstory.php?storyid=428

skiing is weather sensitive , Hunter was a good bet and will remain so, but they really need a snowy 2017

Whoa.

"With long term debt of $118 million, much of it at 10% interest"

Damn, they're almost in schyster territory. That's not good. I'd sell those bonds, if I had them.

At a 40% discount. Yielding closer to 18% now.  

Just read on a FB post that Peak officially discontinued their dividend; not sure if that's new news or not

Brownski wrote

Just read on a FB post that Peak officially discontinued their dividend; not sure if that's new news or not

It is new news.

They are screwed by:

• This crappy winter
• Buying Hunter
• Fronting 15m in funds for EB5 projects, and that funding is now stalled.

The good news is that they sold a boatload of passes this year (40% more than last year) based primary on the Hunter/Mt Sno connection.  This news is not enough to compensate for those three crappy things above, but it seems to indicate that if they can weather this they may have a brighter future.

Really when you think about it dividends do not come from growth companies anyway and they are in a major growth mode.

Their bright future with all of those extra passes will just bring more people onto the mountain and will probably just make those places even more crowded than they already are and will keep me further away.  

Well, yeah, true.

Marcski wrote

Their bright future with all of those extra passes will people skiing will probably just make those places even more crowded than they already are and will keep me further away.

Totally Agree...

I had to switch to Whiteface for next year because of my relocation, but if I was still living where I am, I'd gladly buy a Peak Resorts pass and ski Hunter again.  

Hunter did so much better than most mountains last year, and it likely made their existing customer base more likely to stay there, and the combined pass with Mount Snow allowed them to have a better deal than last year, and they got some sales out of that.  Hopefully most of those people hit the bar a lot and spend more money, paying off their debts more.

Now anyone that criticized me for saying that Hunter would help pay off their debts, I accept your apologies.

I am lucky that I could ski Hunter during the week and it was awesome , especially given the winter. Got up to Mt. Snow for a few weekends and  was impressed. Despite the crowds right at the base no long waits, and once you got up if you picked carefully you could find some relatively empty trails down. The snow in both areas was better than could be hoped for in this crappy winter , so kudos to Peaks