Is Killington insolvent?

[skibikeclimbguy]

Or, at least, significantly strapped for cash? Lack of snowmaking and terrain expansion, lack of staff / not paying competitive wages, trying to raise additional revenue on SS / SL, didn’t run the bubble Tuesday, extensive deferred maintenance, and on and on.

[GlenPLake]

And Powdr just sold off Lee Canyon, seems like there must be something going on.

Boyne, Vail and Alterra are dumping tons of money into many (but not all) of their resorts. With Powdr sitting on the sidelines. My thought is that Powdr probably gets squeezed out in the next few years, they are competing directly with the big boys, and it doesn’t seem like they are keeping up.

[Big Bob]

Wasn't John Cummings dad who recently passed a billionaire?

[Skid Mark]

If you have been to Copper lately, it is clear that POWDR has deep pockets

[rogman]

No. Just a very conservative approach. I also suspect the new KBL went way over budget, but no info at all. It just looked like a project that spiraled a bit. When things take too long costs balloon. And to be fair, they finished strong, didn’t seem like they were cutting corners at the end.

[GlenPLake]

This article is a little old, but I don’t imagine much has changed since this was published.

“…Its revenue base is smaller than that of rated peers, even those with a comparable number of resorts and similar skiable acres. Its EBITDA margin is modestly lower as well, likely due to lower pricing power. The company also has significant revenue and EBITDA concentration at Copper Mountain in Colorado, which we believe accounts for approximately 35 percent of revenue and a large portion of the company’s EBITDA.”

https://sgbonline.com/powdr-corp-s-debt ... ki-season/

[GlenPLake]

If you have been to Copper lately, it is clear that POWDR has deep pockets

No pockets at all, and some significant amount of debt from the way I read the article.

“…S&P said it now expects the company to reduce its measure of total adjusted debt to EBITDA to approximately 5x by fiscal 2022 (ended September).”

[Big Bob]

If you have been to Copper lately, it is clear that POWDR has deep pockets

No pockets at all, and some significant amount of debt from the way I read the article.

“…S&P said it now expects the company to reduce its measure of total adjusted debt to EBITDA to approximately 5x by fiscal 2022 (ended September).”

$270 million due in 2025. With higher interest rates I wonder what the increased cost will be for this. It will take alot of $16 beers to pay this down!

[TheLurker]

Not mention $16 beers!

[whymoo]

And what happened to the Killington download podcast? Hasn't been a episode since September.

[Benny Profane]

This is a company that spends a million dollars a year to host the wealthy world cup. But I'll bet all the 16 dollar beers will cover that.

Never forget that this corporation lost Park City to Vail Inc due to a whoopsie clerical error. Now they're planning a "village" that nobody wants but them.

[Bubba]

This is a company that spends a million dollars a year to host the wealthy world cup. But I'll bet all the 16 dollar beers will cover that.

Never forget that this corporation lost Park City to Vail Inc due to a whoopsie clerical error. Now they're planning a "village" that nobody wants but them.

Unless Powdr wanted to spend millions to buy out SP Land, the land for the village is neither owned nor controlled by the resort or its parent.

[KingsFourMan]

This is a company that spends a million dollars a year to host the wealthy world cup. But I'll bet all the 16 dollar beers will cover that.

Never forget that this corporation lost Park City to Vail Inc due to a whoopsie clerical error. Now they're planning a "village" that nobody wants but them.

Unless Powdr wanted to spend millions to buy out SP Land, the land for the village is neither owned nor controlled by the resort or its parent.

And I wouldn't say that nobody wants the village but them:

https://www.forbes.com/sites/russellfla ... 076acb4119

Maybe nobody on Kzone wants it but based on the new normal as far as work from home options go, and on the current status of the real estate market in Killington and the rest of VT, it would appear that sales of the new units in the village will be very strong barring any kind of economic disaster between now and when they actually get them on the market

[SPORE]

This is a company that spends a million dollars a year to host the wealthy world cup. But I'll bet all the 16 dollar beers will cover that.

Never forget that this corporation lost Park City to Vail Inc due to a whoopsie clerical error. Now they're planning a "village" that nobody wants but them.

Unless Powdr wanted to spend millions to buy out SP Land, the land for the village is neither owned nor controlled by the resort or its parent.

And I wouldn't say that nobody wants the village but them:

https://www.forbes.com/sites/russellfla ... 076acb4119

Maybe nobody on Kzone wants it but based on the new normal as far as work from home options go, and on the current status of the real estate market in Killington and the rest of VT, it would appear that sales of the new units in the village will be very strong barring any kind of economic disaster between now and when they actually get them on the market

According to Mikey - prices will start at $1,200 per sqft. $1.4MM for a 1,200 sq ft condo.

[jimmywilson69]

I'll take 2!