Hermitage club (Haystack) assesses members 10k

[Big Bob]

If the bank wants to get the most money out of the place selling the lifts off for penny's on the dollar won't do it. It would be great if Killington could buy the fancy lodge and stick it on a trailer and haul it north. How many DOLLARS WENT INTO THE LODGE AND THE general SITE CONDITIONS THAT CAN'T BE RECOVERED if THE LIFTS AND SNOW GUNS WERE STRIPPED AND SOLD PIECEMEAL? They would be better off selling it as a whole entity. Sorry about the caps, accidentally hit the caps lock...

[Mister Moose]

If the bank wants to get the most money out of the place selling the lifts off for penny's on the dollar won't do it. ...They would be better off selling it as a whole entity.

Option 3: Repossess and lease it to a newly formed club with different management and the same membership base. Give them a year or two to get to positive cash flow. Then sell it to the club. That would give the bank the best chance of protecting its assets. That's if it even looks viable without real estate sales. Some form of Chapter 11 but with Barnes & Co gone.

[SnoBrdr]

https://www.boston.com/news/skiing/2018 ... -club-fate

[DrJeff]

https://www.boston.com/news/skiing/2018 ... -club-fate

Rumor on the street is that this new, unnamed as of yet group that wants to put up the $26 million and take control of the club from Berkshire Bank, is a group of members, many, if not all are finance people. So for them, a $26 million deal is small change compared to what they're used to doing most of the time....

Time will tell, especially after the scheduled hearing next week

[SnoBrdr]

https://www.boston.com/news/skiing/2018 ... -club-fate

Rumor on the street is that this new, unnamed as of yet group that wants to put up the $26 million and take control of the club from Berkshire Bank, is a group of members, many, if not all are finance people. So for them, a $26 million deal is small change compared to what they're used to doing most of the time....

Time will tell, especially after the scheduled hearing next week

Can money ever be made at a place like that?

[DrJeff]

If they are able to develop the real estate in conjunction with expanding the membership base, then the numbers should work.... Big variable is can the presumed new management re-establish trust among the members, and potential members all the while delivering the same level of service and amenities, even if at a higher, more realistic annual price point, that the current members came to expect and were a selling point to potential members...

[SnoBrdr]

https://www.boston.com/news/skiing/2018 ... ski-resort

[SnoBrdr]

http://www.wcax.com/content/news/Inn-ow ... 29221.html

[RustyK]

http://www.wcax.com/content/news/Inn-ow ... 29221.html

https://hermitageclub.com/membership-levels-2/" onclick="window.open(this.href);return false;

Still only $65,000 to join!

Call today!

[SnoBrdr]

https://www.boston.com/news/local-news/ ... -8-million

[Highway Star]

Maybe Peak resorts will buy it and finally build THE INTERCONNECT???

[Seamus the Leprechan]

Maybe Peak resorts will buy it and finally build THE INTERCONNECT???

There is a connection between Haystack and Mt. Snow. You just have to put your big boy pants on to do it and know where you're going. Not easy and if you do it in the winter, more power to you.

Sláinte.

[Highway Star]

Maybe Peak resorts will buy it and finally build THE INTERCONNECT???

There is a connection between Haystack and Mt. Snow. You just have to put your big boy pants on to do it and know where you're going. Not easy and if you do it in the winter, more power to you.

Sláinte.

[DrJeff]

The biggest issues that will make it so that short of Vail buying Peak, a Hermitage to Mount Snow interconnect won't happen are as follows..

1) The roughly 2 miles of land between the 2 resorts is a mix of privately owned land and Green Mountain National Forest. The permitting studies any interconnect would need would be likely lengthy and costly

2) The financial turmoil of the Hermitage now is likely to take a few years the way it looks now in court to get it all figured out

3) The cost of everything. Between the purchase costs (and Mount Snow/Peak would likely want just the ski area, and maybe the Hermitage Inn and not the golf course, airport, and multiple other local Inns, so that would need to be worked out, then the land acquisition costs, the permitting process (and there's no guarantee that even if they get the land that the permits to develop the interconnect would be issued, then the actual costs of likely 2 lifts minimum, Snowmaking installation, and then the connecting and likely upgrading of the combined Snowmaking systems) you're likely looking at a total price tag somewhere in the same range as their current West Lake snowmaking project and the new Carinthia Lodge construction costs which is just over 50 million

Unless Vail gets involved (with Alterra already having Stratton, I don't think they'd want another area only 10 miles as the bird flys away

I highly, highly doubt the Mount Snow - Hermitage interconnect will ever happen

[Highway Star]

The biggest issues that will make it so that short of Vail buying Peak, a Hermitage to Mount Snow interconnect won't happen are as follows..

1) The roughly 2 miles of land between the 2 resorts is a mix of privately owned land and Green Mountain National Forest. The permitting studies any interconnect would need would be likely lengthy and costly

2) The financial turmoil of the Hermitage now is likely to take a few years the way it looks now in court to get it all figured out

3) The cost of everything. Between the purchase costs (and Mount Snow/Peak would likely want just the ski area, and maybe the Hermitage Inn and not the golf course, airport, and multiple other local Inns, so that would need to be worked out, then the land acquisition costs, the permitting process (and there's no guarantee that even if they get the land that the permits to develop the interconnect would be issued, then the actual costs of likely 2 lifts minimum, Snowmaking installation, and then the connecting and likely upgrading of the combined Snowmaking systems) you're likely looking at a total price tag somewhere in the same range as their current West Lake snowmaking project and the new Carinthia Lodge construction costs which is just over 50 million

Unless Vail gets involved (with Alterra already having Stratton, I don't think they'd want another area only 10 miles as the bird flys away

I highly, highly doubt the Mount Snow - Hermitage interconnect will ever happen

All it takes is positive thinking!!!