Good Article about Ski Resort Villages

[KingsFourMan]

More confirmation that a bunch of condos on top of a unneeded retail space in the Snowshed parking lot is not viable:

http://www.denverpost.com/2017/11/19/sn ... ment-plan/" onclick="window.open(this.href);return false;

[Mister Moose]

East West Partners, which built Beaver Creek Village in the mid-1980s before developing $3 billion worth of village projects and communities, has looked at just about every ski resort real estate opportunity in the West.

“And we passed on most of them,” said Andy Gunion, who is heading East West’s Base Village project at Snowmass. “I’m not sure a village is right for every ski resort.”

Intrawest spent $70 million on a village moored to a pair of condo buildings that the company sold in 2006 and delivered in 2008, just in time for the economic downturn... Fifteen of those Winter Park Village condos have sold this year, with prices down, on average, 32 percent from when they were brand new in 2008....This winter, all the commercial space in the village is fully rented for the first time in almost a decade. And buyers are rallying now, with Winter Park Village condos selling quickly, yet still at prices well below 2008 levels.

“So many of these village problems go away if you can figure out summer,” said Aspen Skiing chief Mike Kaplan.

resort operators are rejecting the Intrawest [Village] model... Vail Resorts, tallied less than 1 percent of its $1.9 billion in revenue in 2017 from real estate.

Two things are clear from reading that article -
1) The synergy of a successful village is very elusive.
2) Year round activity needs to thrive, not just winter.

[freeski]

Whistler / Blackomb does it with ease....

I think it comes down to how much disposable income the customers want to spend. If I ever make it out there I'll be loaded for bear for skiing / dinning / disco-tech and what ♥ ever comes my way.

Killington has NY, NY good marketing... Butt, that marketplace is getting saturated..

Will Les Otten bow to Killington. Not on your life.


https://en.wikipedia.org/wiki/Les_Otten" onclick="window.open(this.href);return false;

[KingsFourMan]

Does anyone really think that there is that much demand for high end real estate in Killington? Even with the interconnect and massive investment in summer and winter mountain improvements it's hard to imagine that ever being viable. Without the interconnect and massive mountain improvements, it's most definitely not viable. JMHO but I don't see it either way, not any time soon any way.

[freeski]

Does anyone really think that there is that much demand for high end real estate in Killington? Even with the interconnect and massive investment in summer and winter mountain improvements it's hard to imagine that ever being viable. Without the interconnect and massive mountain improvements, it's most definitely not viable. JMHO but I don't see it either way, not any time soon any way.

At this point we don't know... Butt, I think you're spot on. It killed me to see the Condos skiers' left of White Heat. No respect for the mountain.

[machski]

Does anyone really think that there is that much demand for high end real estate in Killington? Even with the interconnect and massive investment in summer and winter mountain improvements it's hard to imagine that ever being viable. Without the interconnect and massive mountain improvements, it's most definitely not viable. JMHO but I don't see it either way, not any time soon any way.

At this point we don't know... Butt, I think you're spot on. It killed me to see the Condos skiers' left of White Heat. No respect for the mountain.

Huh? No condos there, you must be having a nightmare.

[Bubba]

Does anyone really think that there is that much demand for high end real estate in Killington? Even with the interconnect and massive investment in summer and winter mountain improvements it's hard to imagine that ever being viable. Without the interconnect and massive mountain improvements, it's most definitely not viable. JMHO but I don't see it either way, not any time soon any way.

Whether a Killington Village is "successful" will depend on the definition of success. If you're SP Land, success will mean selling homesites and other parcels at prices that net a profit. They don't care about the long term viability of the village development except to the extent that Phase 2 is dependent on Phase 1 results and so on out through Phase 4 if they ever get that far. For the resort, success will mean sales results as well as having those properties full most weekends with visitors spending money. For skiers and other customers, success will mean having a variety of sleeping, eating and shopping venues conveniently located close to the slopes.

Whether high priced properties are viable in Killington is another story. From recent years' market results, my answer would definitely be no, at least to the extent needed to support village development. I don't see the high end customers flocking to Killington now and I don't see them flocking to Killington any time soon. The culture of Killington would have to change drastically and were that to happen Killington could very well shrink its current core market. I think Killington's best strategy would be to go back to the town and try to modify the requirement for commercial space in Phase 1. Start development with slopeside homes and condos, develop more events that attract higher paying visitors, and build the village core later once the market supports it.

[yiddle on da fiddle]

Happy Turkey Day to all....and peace in your day....a piece of breast....a piece of drumstick...QUICK!....someone go wake HighwayStahhh....way too quiet these past 48 hrs.....

[Big Bob]

Does anyone really think that there is that much demand for high end real estate in Killington? Even with the interconnect and massive investment in summer and winter mountain improvements it's hard to imagine that ever being viable. Without the interconnect and massive mountain improvements, it's most definitely not viable. JMHO but I don't see it either way, not any time soon any way.

At this point we don't know... Butt, I think you're spot on. It killed me to see the Condos skiers' left of White Heat. No respect for the mountain.

Huh? No condos there, you must be having a nightmare.

He might be refering to the ones along Tempest.