Talisker & Vail vs. POWDR : Park City eviction lawsuit....

[hillbangin]

http://www.parkrecord.com/City/ci_25548 ... asses-sold" onclick="window.open(this.href);return false;

Season Pass Sale at PCMR

[Terrapin Station]

Denver Post: Vail's Katz: The "right thing" will prevail in lease dispute

BRECKENRIDGE — It was an uncomfortable couple of hours for Vail Resorts chief Rob Katz, but he persevered, even laughing for most of the time.

The annual Park City Follies show — where a troupe of locals lambasts and lampoons local leaders and issues in the Utah ski community — this year was named "An Epic Follies," after Vail's popular season pass. The highly contentious lease dispute that has Vail vying to take over Park City Mountain Resort provided rich fodder and swirled around a character playing Katz.

"Sitting in the audience for two hours where you are the primary villain was hard," said Katz, in an interview at the Mountain Travel Symposium in Breckenridge on Sunday. "Putting aside, candidly, all the strife, we are new (in Park City) and I think it's totally appropriate they take their best comedy shot at us."

Speaking publicly for one of the first times on the litigation that pits Powdr Corp.'s Park City Mountain Resort — or PCMR — against Vail Resorts over the future lease of nearly 80 percent PCMR's terrain, Katz said he was hopeful, regardless of the lease litigation, that both sides "would do the right thing."

In spring 2011, Park City Mountain Resort missed its deadline to formally renew its long-term lease for some 3,700 acres with Canadian landowner Talisker Corp. Talisker took the opportunity to raise its lease terms from roughly $155,000 a year, which PCMR had paid since the 1970s, to much more. PCMR refused. Talisker declined to renew the lease. PCMR sued Talisker, arguing it had done everything but file the paperwork to renew the lease.

Enter Vail Resorts, which last spring leased Talisker's 4,000-acre Canyons ski area adjacent to PCMR for $25 million a year, plus a percentage of earnings. The deal had Vail defending Talisker in the PCMR lease lawsuit, giving Vail an opportunity to control the busiest 7,000-plus acres of ski terrain in Utah. Both sides presented their case to a Utah judge earlier this month and a decision on whether PCMR had in effect renewed its lease despite the paperwork delay is expected in June.


http://www.denverpost.com/business/ci_2 ... z2yzTlykeT

[VermontGranola]

Unfortunately, this hits close to home as the banks won't lend money to Powdr while this is tied up in the courts. So it's looking like we'll see very little in terms of summer improvements at either Killington or Pico. Maybe things will change if VR comes to town?

[MrsG]

Another eviction notice submitted

http://www.parkrecord.com/park_city-new ... -signature" onclick="window.open(this.href);return false;

[Mister Moose]

A few excerpts:

Attorneys for Talisker Land Holdings, LLC on Monday submitted what is essentially a formal eviction order against Park City Mountain Resort for Judge Ryan Harris to sign if he rules in the firm's favor in critical upcoming decisions.

The order of restitution would allow PCMR up to 60 days after the judge's signature to vacate the premises -- approximately 3,700 acres. The resort must take machinery, personal property and equipment when it vacates the land, according to the order. It indicates PCMR would be required to leave behind items that are affixed to the soil. The Talisker Land Holdings, LLC side argues that the lifts and other equipment needed to operate a ski resort are affixed to the soil and must remain when PCMR leaves. PCMR recently indicated in a court filing it plans to dismantle and remove most of the lifts if it is evicted.

Talisker Land Holdings, LLC, meanwhile, cites past cases outside of Utah in its argument that the lifts must remain if PCMR is evicted. The cases include ones involving mountain resorts in Vermont, New Hampshire and Pennsylvania.

Still think any of those lifts are coming east?

Question for any attorney willing to weigh in: Would any right of first refusal survive the termination of the lease? Wouldn't that right only exist during the term of the lease? So if the judge finds that the lease had in fact expired, then wouldn't the claimed right of first refusal be nullified?

[KBL Ed]

http://www.linkedin.com/in/jenniferbotter" onclick="window.open(this.href);return false;

Anyone looking for a CFO?

[tt431]

SR, SD3, SD4 and SDP all getting 6 packs from PC.

[jimmywilson69]

http://www.linkedin.com/in/jenniferbotter

Anyone looking for a CFO?

intersting enough she didn't mention lease renewal as one of her skills...



I have no idea if this was her job or not, but seemed funny to me

[Big Bob]

So to the laymen reading her resume, it looks like Powdr Corp does $250 million a year in business and has $670 million in debt.

Without the cash flow from PCMR, do you think they will be able to pay the bills?? (We might be lucky to get mulch in the future!)

I think I will hold off as long as possible to buy next years pass, hopefully the judge will rule before the first price increase cutoff date.

If he rules in favor of Vail, I hate to see a B filing by Powdr.

[hillbangin]

Someone is going to pick up K for a song when PCMR ends badly.

Hopefully Northeast money with Local Managment!!!!!!!!!!!!!!!!!!!!!!!!

AIG/Stowe south.

[ME2VTSkier]

Still think any of those lifts are coming east?

Don't know about sending any of them east, but what's to stop them from "Upgrading" all those lifts to T-bars?

[da Pimp]

I said it before ASC came along, before POWDR came along, and now again - be careful what you wish for. Do you think an insurance company structure would run Killington very well, or even allow M.S. to run it well? Look at Stowe - shorter season, absolute minimum snowmaking, and their capital improvements all went towards the real estate market across the lot. They have everyone up there brainwashed into thinking that this is the way it is, and their actions result in no one coming early or late season. Sound familiar? Despite a lot more average snowfall and better snowmaking weather, they do not shine.

Local management team? Lots of people whine about Vermont mentalities that seek to repeat everything as it was for 50 years thinking they know all about sales, marketing, and their market. And how deep would those local pockets have to be in order to fund capital improvements right after buying something as large as Killington? We would be waiting pretty long to see chairlift improvements, IMHO.

Despite their obvious big corporate approach, I would like to see Vail Resorts come east to Killington. They have the pockets, the marketing savvy, and customer focus to put a serious roar back into the Beast. Maybe they could purchase the SP Land holdings, restructure the village into something that all interested parties would like, and start to build out at some future point.

[hillbangin]

I said it before ASC came along, before POWDR came along, and now again - be careful what you wish for. Do you think an insurance company structure would run Killington very well, or even allow M.S. to run it well? Look at Stowe - shorter season, absolute minimum snowmaking, and their capital improvements all went towards the real estate market across the lot. They have everyone up there brainwashed into thinking that this is the way it is, and their actions result in no one coming early or late season. Sound familiar? Despite a lot more average snowfall and better snowmaking weather, they do not shine.

Local management team? Lots of people whine about Vermont mentalities that seek to repeat everything as it was for 50 years thinking they know all about sales, marketing, and their market. And how deep would those local pockets have to be in order to fund capital improvements right after buying something as large as Killington? We would be waiting pretty long to see chairlift improvements, IMHO.

Despite their obvious big corporate approach, I would like to see Vail Resorts come east to Killington. They have the pockets, the marketing savvy, and customer focus to put a serious roar back into the Beast. Maybe they could purchase the SP Land holdings, restructure the village into something that all interested parties would like, and start to build out at some future point.

Agreed with all above - Especially the part where Vail would have to have both K and SP to make the whole thing successful.

If you thing about the Mountain and the Land - K is the crown Jewel in New England for Vail - No other hill could handle 15K a day and not have hour long lift lines to get to the top of the hill.

To put a positive spin on POWDR - now that Mike has been in charge - you can't argue with the results so far.

Making Snow
Grooming is better
The peak lodge is a real surprise treat -
Customer Service is way up
UBars have a cool factor in April - short season for them though

But - budgets are still tight - tough business - the buildings and lifts are getting tired - but at least they are on track.

I still say if POWDR put a Camp Woodward in at K - it would be a HUGE Northeast draw. I wonder what is holding that up - or if it is even on the books.

And for those of us that pay taxes in K - it would do the most to raise the value of K real estate because Woodward is all summer business, rentals, hotels, resturants, etc.

This is going to be interesting.

[Mister Moose]

Someone is going to pick up K for a song when PCMR ends badly.

Why would POWDR sell K for a 'song'? Why would POWDR sell K at all? PCMR ending badly does not mean the Cummings are out of money.

[Dickc]

I said it before ASC came along, before POWDR came along, and now again - be careful what you wish for. Do you think an insurance company structure would run Killington very well, or even allow M.S. to run it well? Look at Stowe - shorter season, absolute minimum snowmaking, and their capital improvements all went towards the real estate market across the lot. They have everyone up there brainwashed into thinking that this is the way it is, and their actions result in no one coming early or late season. Sound familiar? Despite a lot more average snowfall and better snowmaking weather, they do not shine.

Local management team? Lots of people whine about Vermont mentalities that seek to repeat everything as it was for 50 years thinking they know all about sales, marketing, and their market. And how deep would those local pockets have to be in order to fund capital improvements right after buying something as large as Killington? We would be waiting pretty long to see chairlift improvements, IMHO.

Despite their obvious big corporate approach, I would like to see Vail Resorts come east to Killington. They have the pockets, the marketing savvy, and customer focus to put a serious roar back into the Beast. Maybe they could purchase the SP Land holdings, restructure the village into something that all interested parties would like, and start to build out at some future point.

Agreed with all above - Especially the part where Vail would have to have both K and SP to make the whole thing successful.

If you thing about the Mountain and the Land - K is the crown Jewel in New England for Vail - No other hill could handle 15K a day and not have hour long lift lines to get to the top of the hill.

To put a positive spin on POWDR - now that Mike has been in charge - you can't argue with the results so far.

Making Snow
Grooming is better
The peak lodge is a real surprise treat -
Customer Service is way up
UBars have a cool factor in April - short season for them though

But - budgets are still tight - tough business - the buildings and lifts are getting tired - but at least they are on track.

I still say if POWDR put a Camp Woodward in at K - it would be a HUGE Northeast draw. I wonder what is holding that up - or if it is even on the books.

And for those of us that pay taxes in K - it would do the most to raise the value of K real estate because Woodward is all summer business, rentals, hotels, resturants, etc.

This is going to be interesting.

K has stiff competition for that Camp Woodward. Sunday River went and put on quite a big do for them just before they were to go to K. I do not know what Woodward's final grades will be on the hospitality they found at the varied mountains, but I do know they were VERY Impressed with Sunday River.