Who Buys Who Next?

Harvey wrote

BOLD.  Who's buying?

Harv did you get a media heads up the SB buy was coming
Seems like you are messing with us today or just lucky timing

I had some very vague info. Didn't know if the buyer was Vail or Alterra and the Bush part was speculation. (Bush or Jay).

I gave my word I wouldn't share what I was told.

I thought you guys would probably have some good guesses. I also thought this thread would have a life beyond today.

Another forum member called me out too. Apologies if people feel bad about it.

Don’t feel bad at all
I just don’t believe in coincidences and it seemed a bit out of character for you
Thanks for confirming

Jay will go next and pretty soon

Next yr we will likely see Sugarbush as a full season pass and not just 5 days on ikon.  Maybe only on the premium version though.  Great mt I’ve had some really good days there in the past.  It could start to pull away some WF skiers.  I know guys that live in Moriah and Westport that are only about an hour from sugarbush and 45 mins to WF

If Jay goes full ikon pass that will pull at lot of Clinton county skiers away from Orda.  Going it alone is not a viable Long term business strategy for Orda.  They have to join a pass and do it before their negotiating position is gone.  Not saying be sold but join as a partner.

ORDA should cease to exist, allowing those mountains to be gobbled up by Aspen and Vail.

It's going to be tough going if not impossible in NYS for a state owned agency to have their state owned assets join a private entity.  ORDA is going to need a new law.

Saratogahalfday wrote

ORDA should cease to exist, allowing those mountains to be gobbled up by Aspen and Vail.

Yikes...Garden State Parkway exits 140-150 right there.

Orda was on the max pass
They could easily join as a partner not a full member of ikon or epic
No laws need to be changed to do that
My understanding is when a skier uses a day at a partner resort the resort gets paid something like a days portion of a group sales 5 or 7 day ticket

As a local I might be better off not having this happen but ultimately we all need Orda to be successful.  Someday in the future the political wind in ny could change and Orda could get less funding.  The more successful it is the lower the chances of that ever happening

Z wrote

Orda was on the max pass
They could easily join as a partner not a full member of ikon or epic
No laws need to be changed to do that
My understanding is when a skier uses a day at a partner resort the resort gets paid something like a days portion of a group sales 5 or 7 day ticket

As a local I might be better off not having this happen but ultimately we all need Orda to be successful.  Someday in the future the political wind in ny could change and Orda could get less funding.  The more successful it is the lower the chances of that ever happening

The Gore rep I talked to at the Boston Ski Expo last year was quite enthusiastic about the idea of joining Ikon as a partner.  When ORDA was on the MAX Pass for the final season, my friends who live in CT used it to check out Belleayre.  They liked it and would go back if it were on Ikon.  They like Stratton as their "home mountain" for weekend skiing.

I don't see VR being interested in the ORDA mountains as Epic partners.  Especially not after picking up Hunter and Mt. Snow, which draw from NYC/NJ.  The Epic partners are Telluride, Sun Valley, and Snowbasin.  Snowbasin isn't exactly a destination resort but is probably included because it's also owned by the Sun Valley family and to give Epic holders an alternative to Park City when they fly to SLC.

When you look a little deeper, in some ways the business model for Alterra has more similarities to Powdr than VR in terms of how individual resorts are managed.  The fact that the Crown family has kept Aspen/Snowmass separate from Alterra is a reflection of the difference.  Snowbird was kept separate from Powdr for quite a while.  Only recently listed on the Powdr website.  The fact that the MCP still exists says something about the relationship between Alterra and the independent Ikon partners like JH and Alta.

marznc wrote

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.
. . ."

One thing for sure, when VR buys a company that owns ski resorts they don't ask the current leadership and management team to stay.  The approach that VR and Alterra take to an acquisition is quite different.  Given that Win Smith has to know what happened after the Muellers sold Triple Peaks, he won't be surprised at what was announced recently by VR about staff changes for the former Peak Resorts locations.  When Alterra bought Crystal in WA in 2018, the family of John Kircher left the business but from what I read then John and his wife, Kim (head of ski patrol), seemed ready for some retirement down time to just enjoy skiing Crystal.

Two former Peak Resorts GMs won't stay with VR, the GM of Roundtop and a GM in Ohio.  The GM of Liberty is moving to Whitetail, and the GM of Whitetail is moving to take over Roundtop.  Amongst the former Snowtime ski areas/resort, Roundtop is typically first-to-open because it's a bit farther north and can start snowmaking earlier.

https://www.saminfo.com/headline-news/9439-vail-resorts-makes-sweeping-staffing-changes-at-former-peak-resorts-properties
"SAM Magazine—Natick, Mass., Nov. 21, 2019—Vail Resorts (VR) notified a variety of personnel across the 17 recently acquired former Peak Resorts properties that their employment with the company has an end date. Most will be terminated as of May 1, 2020, with some being asked to stay on longer—into October—to help with the integration. Affected staff members were offered severance benefits based on tenure and job level. VR closed on its acquisition of Peak Resorts in September. vail resorts logo emailsize

According to a document provided to employees, positions will be eliminated in several departments, including human resources, finance and accounting, IT, health and safety, marketing, operations, real estate, reservations, retail/rental, and sales. In some cases, entire departments were given notice that their employment was ending come spring. Most corporate-level positions carried over from Peak Resorts are being eliminated.

The document also said this is the only “organizational alignment” that will occur, and no additional changes are planned as part of the integration of the Peak Resorts properties.

Immediate leadership changes were also made at a few of the resorts, including Mad River Mountain (Ohio), where general manager Josh Faber was let go.

And according to sources, the three former Snow Time resorts in Pennsylvania underwent a leadership shakeup. Roundtop general manager Matt Thomas was let go. Whitetail general manager Brett Cook will move to that role at Roundtop, and Liberty GM Anne Weimer will replace Cook as GM at Whitetail. It is unclear who will succeed Weimer at Liberty. Vail Resorts would only confirm that Thomas is exiting.
. . ."

No surprises at the Sugarbush Community Forum on 11/20/19.  Apparently Win gave out his phone number and people who attended were welcome to call him directly to let him know any concerns in the future.

https://www.mychamplainvalley.com/news/local-news/sugarbush-resorts-pending-sale-draws-dozens-to-public-forum/