Who Buys Who Next?

No polls. Just your opinion.

What's the next deal to go down?

Eventually we'll all know, we can see who was right!

Somebody buys Jay. Somebody else buys Burke.



Also, I predict Alterra will buy Sugarbush

BOLD.  Who's buying?

I'm surprised that either Vail or Aspen hasn't scooped up Telluride.

But I think the Jay thing will happen first. If Powdr was smart, they'd buy it & Sugarbush, take their mountains off Ikon, partner with a couple Indies, and sell some type of VT SuperPass.

But Vail will probably buy Jay because it's Vail and why not?

I’m surprised The Jay sale hasn’t happened yet.  It definitely is the next piece.  Might be they are trying to package with Burke which no body wants.  I think that jay is bought by Alterra.  Vail took on Debt for the big buy earlier this yr and probably tapped out leaving it to Alterra.  Having both Jay and Mt Tremblant gives them a dominate position in the Montreal market

Vails next buy in the East is Smuggs probably in a yr or two

The Canadian ski market will also get in the action with RCR either buying to get bigger or being bought

Burke might end up being taken private as a non profit as part of the ski academy with the academy moving into the Hotel

Z wrote

I’m surprised The Jay sale hasn’t happened yet.  It definitely is the next piece.  Might be they are trying to package with Burke which no body wants.  

The Receiver has already announced that while Jay is for sale Burke is not for sale. Burke hasn't created the number of new jobs required for the investors to get their EB-5  Visas yet.

I don’t know if it’s next but Vail has got to be eying smuggs for the connecting piece creating the biggest skiing in the north east.

raisingarizona wrote

I don’t know if it’s next but Vail has got to be eying smuggs for the connecting piece creating the biggest skiing in the north east.

Remind me again what is needed trail/lift-wise to connect Stowe with Smuggs?

bumps wrote

Remind me again what is needed trail/lift-wise to connect Stowe with Smuggs?

All you need is an easement over the top of Spruce Peak, which they had in the past, and may still have.  IIRC the skate across the top is about the same or easier than Twister to BRQ by Cedars. We did it all the time back in the 60's, but millennials will want an Alta style 2 way T-bar or maybe a continuous gondola like the one at Spruce base.

mm

I don't think either Jay or Smuggs are top shelf targets for VR or Alterra. I haven't been to either a while, but my impression was the neither of them drew very big crowds. Am I wrong about that?

I think the last remaining buy out opportunities in the East are Bromley/Jiminy and Windham, because they have the largest concentration of high income Connecticut/NJ/NYC skiers. I don't think Powdr or Boyne will pull out of IKon or that VR will go after Sugarbush or other Ikon partners, but if those things happen, all bets are off.

mm

raisingarizona wrote

I don’t know if it’s next but Vail has got to be eying smuggs for the connecting piece creating the biggest skiing in the north east.

Good or bad this will happen. What a place that will be when it does. WOWZERS!

I was looking to see if peeps still skied the back and forth. Found this from 2016.

https://www.skimag.com/uncategorized/ski-east-going-over-the-top

Milo Maltbie wrote

I don't think either Jay or Smuggs are top shelf targets for VR or Alterra. I haven't been to either a while, but my impression was the neither of them drew very big crowds. Am I wrong about that?

I think the last remaining buy out opportunities in the East are Bromley/Jiminy and Windham, because they have the largest concentration of high income Connecticut/NJ/NYC skiers. I don't think Powdr or Boyne will pull out of IKon or that VR will go after Sugarbush or other Ikon partners, but if those things happen, all bets are off.

mm

POWDR is putting their efforts into building Woodward locations.  Opening the new one at Park City this season.  Very much doubt they are interested in taking on another ski resort.

My sense of the Fairbanks, father and son, is that they are quite happy with how things are going at Jiminy Peak, Bromley, and Cranmore.  Just bought back the Jiminy land assets in Feb 2019.  The Fairbank Group has broadened it's scope enough to be pretty solid as an ongoing business that's fully dependent on revenues from the three resorts.

Windham seems like it should be of interest to Alterra now that VR has grabbed Hunter as part of the Peak Resorts buy out.  After the current Windham owners finish with assorted improvements, Alterra wouldn't have to worry about doing much besides taking over operations.  But could also just add Windham as an Ikon partner to get more of the NYC/NJ market without having to run the resort.

looks like it was the 'bush

Hot off the press on 11/13/19, 1:20pm . . . Alterra is buying Sugarbush.

https://www.businesswire.com/news/home/20191113005751/en/Alterra-Mountain-Company-Acquire-Sugarbush-Resort-Vermont
" . . .
Win Smith will stay on as President and COO of Sugarbush Resort and will oversee daily operations of the destination and future capital improvement plans.

“Having been a family-owned resort for nearly two decades, we were keen to find the right next owner of Sugarbush Resort. We are delighted that Sugarbush will join the Alterra Mountain Company family, knowing that Alterra Mountain Company will continue to maintain our culture, values and commitment to our community, while bringing additional capital and other resources to make Sugarbush even better in the years ahead,” said Win Smith, CEO of Summit Ventures NE, LLC.
. . ."

Open letter from Win Smith to the world published in VT Ski&Ride on Nov. 13, 2019.  Transfer of ownership not expected until Jan 2020.  Not selling 100%, just a majority of the assets.  There will be an open forum for the local community on Nov. 20.  No change in Ikon access for 2019-20.

https://vtskiandride.com/sugarbush-owner-win-smiths-open-letter/
" . . .
Today Summit Ventures NE LLC is announcing that it has agreed to sell the majority of its Sugarbush assets to Alterra Mountain Company. They currently own 14 very special destinations in North America and partner with an additional 27 around the world on their Ikon Pass. The transaction is expected to close in early January 2020 subject to regulatory approvals.

I have been asked to remain as President for as long as I wish in order to facilitate a smooth transition, to maintain our commitment to our guests and to the entire Sugarbush community, and to prepare the next generation of leaders to succeed me when I decide to move on to a third career. More importantly, Alterra Mountain Company wants our entire Sugarbush team to remain in place. They are buying a place they believe is working well and do not have plans to change our mission, our values, our brand, our culture, or our team. They recognize our commitment to the Mad River Valley community and want that to continue as well.
. . .

The multi-resort season pass has changed the landscape. It will be increasingly difficult for ski areas like Sugarbush to compete alone against Vail Resorts, Alterra Mountain Company, and others like POWDR and Boyne Resorts. The recent acquisition of Peak Resorts by Vail was the tipping point in my decision to sell.
. . ."

Brownski wrote

Also, I predict Alterra will buy Sugarbush

Ahhh yes, misuse of the edit function.

Hopefully the new forum will tell us when edits are made.

MC2 5678F589 wrote

Brownski wrote

Also, I predict Alterra will buy Sugarbush

Ahhh yes, misuse of the edit function.

Hopefully the new forum will tell us when edits are made.

Ha! I just thought I would see if anybody noticed

It is hard to say what the number is for the owners of Smuggs, but whoever does buy Smuggs will be looking at mega capital spending on lift upgrades.

F.

Sugarbush was my first ski adventure, in 1991.  Going there after only skiing Deer Run (Stamford, NY), I was in ski heaven on a Super Bowl weekend.  The snow was so high, I didn't know if we could even ski in it. Skiing there truly opened my eyes to what skiing could be.

As a adult, going to Buffalo Bill's for a weekend and ending a ski day at the Wunderbar, ski heaven was still on the menu.

I don't care what they say, once Alterra takes over, Sugar will never be the same again.