Farewell to Win /Alterra Closes Purchase of Sugarbush

[GlacierBoy]

Thanks, Win, and thank you to the Sugarbush team for the past 18 years. The ‘Bush operations and culture has remained top notch and purely Vermont

Here is Win’s farewell message:

Dear Sugarbush Community Member,

Today, Sugarbush officially became a member of the Alterra Mountain Company family.

My family and I have thoroughly enjoyed our eighteen years of ownership, and we are grateful for your support and loyalty and all that you have done to make us successful. I am also very thankful for the support we have received from Adam Greshin and the other investors in Summit Ventures. And I remain grateful to Bob Ackland and Tom McHugh, who were responsible for bringing the Sugarbush opportunity to Joe Riemer and me, which led to our purchase of the resort from American Skiing Company in 2001, and who were an important part of our management in the early years.

For the past 60 years, each owner has made Sugarbush better. The Gadd and Murphy families, along with a handful of investors, opened Sugarbush on Christmas Day in 1958, creating what would become known as Mascara Mountain. The culture that they began is one we have tried to build upon. The Elliott family opened nearby Glen Ellen five years later, brought a third ski mountain to the Valley, and created a fun spirit of camaraderie. Roy Cohen followed the Gadds as owner of Sugarbush and brought the two mountains together. After Cohen’s tenure, ARA Services replaced the Gondola with a couple of new fixed-grip triple chair lifts, Bravo (now North Lynx) and Heaven’s Gate, and increased uphill lift capacity. Claneil Enterprises proceeded ARA and transformed Sugarbush into a year-round resort by adding the golf course and Sugarbush Inn. Les Otten of American Skiing Company was responsible for significantly improving snowmaking at Sugarbush and for installing a number of high-speed quad lifts including the Slide Brook Express, which tied the two mountains together.

I am certain that under our ownership my family and I have also made Sugarbush better each year, with three new lodges at Lincoln Peak, improved snowmaking, and seven new lifts along with a number of other improvements at both mountains. I am proud to have partnered with the likes of GMVS, VASS, the Kelly Brush Foundation, High Fives, Protect Our Winters, and other philanthropic organizations and to have been a responsible member of this great Mad River Valley community. And now I am confident that Sugarbush’s new steward, Alterra Mountain Company, will do the same and continue to make Sugarbush better each and every year.

While the past owners have made significant contributions to Sugarbush’s uniqueness, so too has our valued team. Their passion and dedication to serving our guests is something that has differentiated us and will continue to do so in the years ahead. I can’t think of a better team to be part of. They are rock stars!

I will miss being an owner but I am looking forward to Sugarbush’s next chapter with Alterra Mountain Company. And I remain extremely optimistic about our future with new opportunities sprung from access to additional capital, talent, and the Ikon Pass community. As you know, I plan to continue as President and COO of Sugarbush for a while until the right successor is ready to take the reins. After that, our family will continue to be members of the Sugarbush community for decades to come, and I certainly plan to keep skiing at least 100 days a year for as long as I am able.

This past weekend we experienced our fifth weather roller coaster of the season, but we are recovering and getting the mountain back into good shape. Keep doing your snow dances. We still have a long season in front of us and are looking forward to skiing and riding into May again.

All the Best,
Win Smith

[Dr. NO]

Still have my "Thanks Win" T shirt. The change over of K to Powdr was a nightmare. Thanks to Win we extended the season and had some great days of skiing. Mike S is in the same boat as Win, knowing how the industry should work. Best of luck to the new management team.

Any word on Steve White staying on? Junior?

[tyrolean_skier]

Thanks Win for all the work you did for Sugarbush and welcoming us when Powder shut down our mountain early. Love the terrain at Sugarbush.

[Guy in Shorts]

I can have as much fun on a good day at Sugarbush as I can at Killington. Kudos Win.

[brownman]

Farewell ?
Win isn't going anywhere.
His passion for the MRV is well established
Quite simply, his vision and leadership has been rewarded.
Unlike Mike, he hasn't been restrained by a higher management authority.

One's Fun Factor is a subjective measure.
All a matter of perspective..

They get more natural snow there .. and it lasts longer.
Sugarbush lifts rarely stop.
Their staff is fluent in English.
Their wooded terrain is superior and unencumbered by bike berms.
No herbs. No thieves. No Jerry's. No problems.

Better ticket value for us .. under $6/day already this season.
Last season, got that down under $3/day.

Only downside is no Peak Lodge.
We have plenty of baseball caps.

[rogman]

Certainly congrats to Win on transitioning to the next phase of his career. I will be curious to see how it goes for him. It's a bit unusual to have to transition from working for yourself to working for someone else. Many don't like it. Rather than competing against his own finances and calling his own shots, he will be competing for investment dollars from Alterra. It will require a different mind set. Imagine Stratton getting a new lift, snow making, whatever, while Sugarbush gets nothing. He's done an admirable job building a brand, he may find it frustrating when he discovers that the unlimited Ikon pass changes what he so carefully crafted. While I believe this is the best possible outcome for Sugarbush, I don't for one second think this will actually be beneficial to the resort on the long haul.

[ANGUS]

They do have cat Skiing. I hope they keep up the snow porn. The ladies love it. Why can't we have that in K Town?

[da Pimp]

Win will not be working under Alterra for long. He is there to provide hands on guidance to transitioning systems into Alterra, and training whomever Alterra puts in there as the next person in charge. After all, he pocketed some nice coin from this and deserves to enjoy the fruits of his labors while still young enough to do so.

Certainly will be interesting to see how the Ikon pass functions in the future. Killington will have passholders from nearby flooding in X days per season on their Sugarbush pass, making K contribute back to the Ikon system for every one of those days. K has got to feel some pressure to give K customers some Sugarbush access. Although the very access that we all want may serve to overcrowd the place into what we don't want. Might as well stay at K with more lifts and terrain (despite poor reliability).

[RustyK]

Well....that was a good day. Killington refugee day at the Bush.

Winn handed out free tickets to all that wore the shirt!

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