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Will Alpine Meadows be sold to Squaw Valley / KSL Capital Partners by JMA Ventures to fund major...

Poll Results: When do you think an Alpine Meadows deal will happen?

 
  • 46% (6)
    Before the start of the 2011-2012 ski season
  • 15% (2)
    During the 2011-2012 ski season
  • 23% (3)
    After the 2011-2012 ski season
  • 15% (2)
    Never
13 Total Votes  
post #1 of 27
3/17/11 at 7:02pm
Thread Starter 

Will Alpine Meadows be sold to Squaw Valley / KSL Capital Partners by JMA Ventures to fund major Homewood Mountain expansion?

Will Squaw Valley then lease/acquire White Wolf from Troy Caldwell to interconnect to Alpine Meadows?

What rumors have you/your friends heard about these potential deals?  Any other analysis as to why these deals may or may not be imminent?

These long rumored potential deals seems to make more sense financially now for both new owners JMA Ventures (Alpine Meadows - 2007, Homewood Mountain - 2006) and KSL Capital Partners (Squaw Valley - 2010).

The rumor mill heated up with blog posts like:  

"TOP SECRET: No One is Supposed to Know About Squaw’s Offer to Buy its Neighbor"  2/18/11 by Talebearing Squawdog  http://granitechief.com/blog/?p=2260

..."I was out practicing writing my name in the snow when I noticed a corporate helicopter making laps between Alpine Meadows and Squaw Valley.
...My boys went to work cruising around the mountain, siding up to anyone not wearing 20 year old skiwear, those Colorado and San Francisco boys are easy to spot. Skin tight ski pants, fur and fedoras, there they were in a group talking smack; “my mountain is bigger than yours”, “mine has a higher base elevation.” Things started getting pretty heated when one of them blurted out, “I could buy your mountain and then I’ll have the biggest mountain with the highest base elevation!”
...Then the other guys, the JMA guys, (Jamaican Medical Association), retorted, “Why don’t you just do that and I’ll still have Homewood Ski Resort with lakefront skiing.” If my sources are right, that’s how the whole thing went down….Squaw made an offer to buy Alpine Meadows. And why not, it’s everything we north shore skiers have dreamed about for years, the biggest, baddest ski area in the world right here in our own backyard.
...I love these guys, it makes perfect sense…the big mountain gets bigger and the San Francisco boys build a boutique bon ton dining and shopping village at the base of Homewood."


Of course, the standard denials were issued on 3/3/11.

http://www.sierrasun.com/article/20110303/NEWS/110309954

..."Another persistent rumor that emerged this week relating to Squaw Valley claimed the resort was in the process of buying Alpine Meadows from JMA Ventures — a San Francisco-based real estate company that owns the mountain along with Homewood Ski Resort on Lake Tahoe's West Shore.

“Is the word around town true KSL is buying Alpine Meadows?” was a question asked by someone using Kara Steinmeyer's account on Squaw's Facebook page.

The answer is no, Amelie Richmond said Thursday, adding the rumor has been around for a long time, likely due to the proximity of the two resorts.

Rachael Woods, spokeswoman for Alpine Meadows, said she heard the rumor “about a million times in the past two days,” but said no sale of Alpine Meadows is imminent.

“I asked around and that is not the case,” Woods said Thursday"
 

 

 

PRELIMINARY ANALYSIS

SQUAW VALLEY

KSL Capital Partners (Denver, CO private equity firm invested in travel & leisure businesses; Michael Shannon and Eric Resnick - managing directors; Squaw Valley CEO - Andy Wirth), a former KKR affiliate, probably has plenty of capital to invest with KSL Capital Partners II fund (raised $1 billion in September 2006) and KSL Capital Partners III fund (targeting $1.5 billion in capital commitments with final closing expected in 2011 - Form D filed 11/1/10 - already raised $100 million as of 2/17/11).  Squaw Valley is planning to invest $50 million in upgrades over the next 3-5 years as it targets the family destination skier.

Sources:
http://www.perenews.com/Article.aspx?article=56338&hashID=5FD7DB538F4494AAAB5200729EDDE7D6A57F4684
http://secwatch.com/ksl-capital-partners-iii-l-p
http://secwatch.com/ksl-capital-partners-iii-l-p/d/a/filing-d-%28amendment%29/2011/2/17/7582900

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/03/02/DDMM1HT370.DTL

"Catching up: Nancy Cushing, past Squaw Valley CEO" by Sam Whiting, San Francisco Chronicle  3/3/11

Q: How are plans coming to connect Squaw Valley and Alpine Meadows?

A: It would be a wonderful thing for our area and for Lake Tahoe as a whole. KSL has a lot of economic power and they can get things done.

Q: How things are going for Squaw Valley?

A: The company and the area are undergoing a wonderful transformation because KSL is going to spend $50 million in the next year or two. They're working on plans to create more intermediate skiing on the mountain and add lodging to the village.
 

 


HOMEWOOD MOUNTAIN

JMA Ventures (San Francisco, CA real estate investment firm, Art Chapman - president) is probably looking to fund its major Homewood Mountain expansion http://www.skihomewood.com/masterplan/ with the draft environmental impact report (EIR) 1/21/11 (http://www.placer.ca.gov/Departments/CommunityDevelopment/EnvCoordSvcs/EIR/Homewood/drafteir.aspx) filed with the Tahoe Regional Planning Agency (TRPA) and final action possibly expected by the end of 2011 (http://www.tahoebonanza.com/article/20110225/NEWS/110229943)

Some highlights from the EIR (preferred alternative 1) & news articles about the Homewood Mountain expansion plans to become an upscale boutique resort.

*  8 passenger high speed gondola, high speed quad & new beginner mid mountain ski lift
*  resort lodge/5 star boutique style hotel with 75 rooms & 70 condo units at North Base area
*  mid mountain day lodge & outdoor swimming pool
*  village center/ice skating rink at North Base area
*  36 condos/16 townhouses at North Base area
*  99 unit condo complex at South Base area
*  25,000 square feet retail space at North Base area
*  4 level parking garage for 272 cars at North Base area
*  total of 17 new buildings at North and South Base areas  (155 tourist accommodation units, 181 residential units and 13 workforce/employee housing units) to be built on 23 acre development using LEED gold standard

* Homewood needs to increase nonholiday midweek skier visits/day from 300 (past historical average) to 700 to generate sustainable revenues

 

Sources:

http://news.google.com/nwshp?hl=en&tab=wn&q=homewood%20jma
http://www.tahoebonanza.com/article/20110210/NEWS/110219994



WHITE WOLF

White Wolf is the 460 acre property (about 60% skiable acres) between Alpine Meadows and Squaw Valley off KT22 owned by Troy Caldwell who purchased it in 1989 for $350,00 from Southern Pacific Land Company.  The Five Lakes trail leads to the top of White Wolf from Alpine Meadows road.  White Wolf actually owns the top of KT22 and has been leasing the 75 acres that fall within Squaw Valley boundaries (top third of KT-22 & entire length of Olympic Lady) to Squaw since 1990 for an estimated $15,000/year as of 2007 with the current lease to expire in 2014.  In 2004 White Wolf installed the 17 handbuilt towers for the planned triple chairlift behind the West Gully ridge with a vertical rise of 1,123 feet with its top lift terminal at 8,000 feet close to KT-22's top terminal.  Troy Caldwell was sponsored by Alpine Meadows when he was on the U.S. Freestyle Team for 5 years in the 1970s and then Troy later worked for Alpine Meadows.  Also his wife Sue Caldwell worked at Alpine Meadows for nearly 30 years as special tickets manager.  White Wolf was named after a big white wolf that Caldwell had rescued after it had fallen off a ledge and was stranded on the mountain.

..."If my dream were totally brought to fruition, White Wolf Mountain would become an inter-connect between Alpine and Squaw. A skier could ski from the Squaw side all the way to the Alpine Meadows ski area."  Troy Caldwell (owner of White Wolf) quote in a 3/9/08 San Francisco Chronicle article  http://articles.sfgate.com/2008-03-09/living/17167839_1_ski-area-chairlift-ski-seasons

 

 


Edited by SkierScott - 3/18/11 at 10:51am
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post #2 of 27
3/18/11 at 9:40am

edit: I have no clue. I crave more separation from Alpine's clientele, not less, but who's asking me? I mean who's saying there will be more flow toward Alpine to reduce crowds at Squaw; could go the other way, more Alpine skiers heading over to Squaw, which is already a PIA, and they have to drive now.


Edited by davluri - 6/1/11 at 8:03pm
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post #3 of 27
3/18/11 at 11:49pm
Squaw and Alpine interconnected would make the coolest resort imaginable. I hope it happens.
I don't care about the politics or egos - just do the deal and create something fantastic!
Of course KT will still be the best chair ever - unless Olympic Lady is spinning.
Eric
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post #4 of 27
3/22/11 at 9:15am

Oh, man, I would love Alpine and Squaw together. That would be a great pass to have! Combining two great Tahoe resorts to make one huge mega fun resort. Do it now!

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post #5 of 27
6/1/11 at 5:44pm
Thread Starter 

Squaw Valley (KSL) letter of intent signed to purchase Alpine Meadows (JMA)?  

Miles Clark recently posted on 5/31/11 about this rumor on a blog http://unofficialnetworks.com/2011/05/31/owners-squaw-alpine-sign-letter-intent-fights-break-squaw-alpine-skiers/

Also Dork of Pow 6/1/11 has some good topographic maps at www.powdork.com/2011/squalppinwolf-born-to-be-wild/ of the possible Squaw Valley - Alpine Meadows - White Wolf combinations plus the terrain between Beaver/Estelle at Alpine Meadows and Squaw Peak at Squaw Valley.  


SQUAW VALLEY (owned by KSL Capital Partners)

This Alpine Meadows deal may be even more likely with the 6/1/11 announcement of the completion of the final closing KSL Capital Partners III fund which raised over $2 billion (closings over 7 months since the initial sale on 11/1/10) and exceeded its original target of $1.5 billion.  


"Promising Returns Lure Back U.S. Hotel Buyers" by Kris Hudson Wall Street Journal  6/1/11  http://online.wsj.com/article/SB10001424052702304563104576357661645185444.html?mod=googlenews_wsj

....KSL is betting that now is the time to buy struggling resorts and bolster their operations for a tidy investment gain. "We think resorts tend to be laggards in the recovery cycle," says Eric Resnick, a KSL managing director."

The fund that KSL just finalized is its second as an independent firm, attracting repeat investors from KSL's earlier funds, including Washington State Investment Board. The pension fund has reported gains of 10.9% to 26.5% on its previous investments with KSL.

KSL made three investments with the fund as early money came in. In April, KSL bought the historic, 409-room Royal Palm hotel near Miami for $130 million, converted it to the James brand and now plans to complete a $42.6 million renovation by next year. Last month, KSL paid $115 million to buy the 293-room InterContinental Montelucia Resort & Spa in Scottsdale, Ariz., from the resorts' lenders, who had foreclosed on it two years earlier. In the third, KSL has pledged to finance resort deals in partnership with East West Partners, a resort developer based in Avon, Colo.


Sources:
http://www.bizjournals.com/denver/news/2011/06/01/third-ksl-fund-brings-in-2-billion.html
http://online.wsj.com/article/SB10001424052702304563104576357661645185444.html?mod=googlenews_wsj
http://formds.com/issuers/ksl-capital-partners-iii-lp
http://formds.com/issuers/ksl-capital-partners-iii-te-lp
http://unofficialnetworks.com/2011/05/31/owners-squaw-alpine-sign-letter-intent-fights-break-squaw-alpine-skiers/
www.powdork.com/2011/squalppinwolf-born-to-be-wild/

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post #6 of 27
6/1/11 at 6:10pm

Devils advocate and another view......

 

KSL is upscale as they come...What if KLS makes Alpine a private club with limited access. The only way to access will be a private road or through the special "gate" White Wolf? Since 11-12 passes have been pre-sold, either they will be turned into "Bronze" Squaw passes -or- the evolution to the new "Alpine MEadows Private Club" doesn't happen until 12-13. Alpine would be a "Platinum" level pass for the tidy sum on $5900 which will give exclusive access to Alpine along with special lift lines at Squaw. The $9,000 pass will include all food & access to the private club house and ski valet services. 

 

 

Thoughts?

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post #7 of 27
6/1/11 at 7:36pm
Quote:
Originally Posted by Philpug View Post

Devils advocate and another view......

 

Since 11-12 passes have been pre-sold, either they will be turned into "Bronze" Squaw passes -


Didn't you notice that a  pre-May 15th full Alpine pass  was the same as a pre June 15th full squaw pass?....

 

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post #8 of 27
6/2/11 at 1:37pm

Not to mention their pass order forms are identical now... whenever you're suspicious about two companies merging or one acquiring the other, check to see what they're doing with their user data.  Matching database columns make a transition much smoother.

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post #9 of 27
6/9/11 at 10:52am

If they do get hitched, I think they know it pays to keep everything, including lessons, within your customers' financial reach. (Then again, if you want SV all to yourself, just pony up the money like Katie & Tom wanted to cruise Mountain High for the day).

 

Heavenly and Northstar et al just told the SEC:

 

Lift revenue increased 

$53.2 million, or 18.4%, for the nine months ended April 30, 2011 compared to the same period in the prior year, due to a $34.2 million, or 
18.1%, increase in paid lift revenue and a $19.0 million, or 18.9%, increase in season pass revenue. 
prior year. Excluding Northstar-at-Tahoe, lift revenue increased $22.4 million, or 7.7%, compared to the same period in the prior year, due to a 
$13.2 million, or 7.0%, increase in paid lift revenue and a $9.2 million, or 9.2%, increase in season pass revenue. 

skier visitation was up 4.1% as both the Colorado resorts and the Heavenly resort benefited from 
significantly above average snowfall during the current season, but were unfavorably impacted by the timing of the Easter holiday which was 
in late April in the current fiscal year, versus, early April in the prior fiscal year. In addition, our Heavenly resort was also impacted by higher 
than average resort closures due to severe weather. 


Ski school revenue increased $13.1 million, or 18.6%, for the nine months ended April 30, 2011 compared to the same period in the prior year 

a 3.6% increase in yield per skier visit due to higher guest 
spend.

Dining revenue increased $13.2 million, or 26.8%, which also benefited from the acquisition of Northstar-at-Tahoe in the current fiscal 
year. Excluding Northstar-at-Tahoe, dining revenues increased $5.3 million, or 10.7%, driven by increased skier visitation and a 5.8% increase 
in yield per skier visit for on-mountain dining, as well as the addition of two new on-mountain dining venues. 

The increases in both ski school 
and dining revenue were achieved despite the negative impact of the late Easter holiday in the current fiscal year. 
Retail/rental revenue increased $18.1 million, or 13.1%, for the nine months ended April 30, 2011 compared to the same period in the prior 
year, which includes $8.5 million of incremental revenue from Northstar-at-Tahoe in the current fiscal year. 

Excluding Northstar-at-Tahoe, 
retail/rental increased $9.6 million, or 7.0%, which was driven primarily by higher revenues at our Colorado front range stores and Any 
Mountain stores (in the San Francisco bay area) which combined increased by approximately 11% as compared to the prior year. Additionally, 
our mountain resort stores experienced an increase in revenue primarily driven by retail sales due to higher skier visitation although these 
increases were tapered by the late Easter holiday in the current fiscal year. 

Other revenue mainly consists of private club revenue (which includes both club dues and amortization of initiation fees), summer visitation 
and other mountain activities revenue, marketing and internet advertising revenue, commercial leasing revenue, employee housing revenue, 
municipal services revenue and other recreation activity revenue. For the nine months ended April 30, 2011, other revenue increased $10.5 
million, or 18.9%, compared to the nine months ended April 30, 2010, which includes $6.5 million of incremental revenue from Northstar-atTahoe. 

Excluding Northstar-at-Tahoe, other revenue increased $4.0 million, or 7.2%, primarily due to an increase in internet advertising due to 
the acquisition of Mountain News Corporation in May 2010 and higher strategic alliance marketing revenues, partially offset by a decrease in 
municipal services revenue (primarily transportation services provided on behalf of certain municipalities).

 

 

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post #10 of 27
7/6/11 at 12:26pm

hey guys its july 6 and i just found out that squaw bought alpine and possibly homewood as a package

 

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post #11 of 27
7/6/11 at 12:52pm

Your first post on the forum... source?

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post #12 of 27
7/6/11 at 4:04pm

Troy is a 14 year old, he doesn't know squat.  However, that is the rumor that is spreading like wildfire: KSL bought Alpine and White Wolf three days ago and JMA bought Chamber's Landing.  As an Alpine skier, I think we are getting the short end of this.

 

By the way, if you are looking for a killer deal on a new epoxy SUP, contact Troy's dad.  I just got one and it rocks.

 

Greg

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post #13 of 27
7/14/11 at 2:05am

Done deal. Alpine owners get ownership stake in KSL. Also from what I can gather, Homewood was not included in the deal. Neither was White Wolf. Caldwell wants way too much ($12 mil). They're just gonna go around him for much less....I would too.

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post #14 of 27
7/14/11 at 9:01am

So does going around Troy involve connecting the two resorts with a lift and runs? or will Squaw and Alpine remain separate? just an ownership shift? is this known yet?

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post #15 of 27
7/14/11 at 9:30am

I bet White Wolf will happen eventually... once they prepare to go around him (or over) he'll lose his leverage and settle for less.  Let's hope so...

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post #16 of 27
7/14/11 at 10:51am

The concept sounds cool, I hope the execution is too!  I hope for you guys that they don't do anything with VR?

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post #17 of 27
7/14/11 at 12:55pm

On a side note, everyone keeps saying it's a done deal, but not even Unofficial has posted about it, which seems odd given they were the original source of all the rumors...

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post #18 of 27
7/14/11 at 3:02pm
Quote:
Originally Posted by jaytierney View Post

On a side note, everyone keeps saying it's a done deal, but not even Unofficial has posted about it, which seems odd given they were the original source of all the rumors...

They are actually several months late on the rumor.
 

How will the White Wolf connection work for beginners?

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post #19 of 27
7/14/11 at 5:18pm
Quote:
Originally Posted by PowderHownd View Post

Done deal. Alpine owners get ownership stake in KSL. Also from what I can gather, Homewood was not included in the deal. Neither was White Wolf. Caldwell wants way too much ($12 mil). They're just gonna go around him for much less....I would too.



Got a link?

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post #20 of 27
7/14/11 at 7:01pm

The hedge funds have money, and they are not buying ski areas for their current earnings.  They are looking at creating something monumental that will outlive the principals and leave a legacy for their kids and grandkids.  It is an ego trip, and there is absolutely nothing wrong with that.  The Canyons Resort is a perfect example.  Talikster took it over and they did three years worth of improvements in one year, with no expense spared.  In time with approvals, they can keep stretching the area out towards PCMR.  KSL will do something similar. Ski areas might make a few bucks when the real estate market is good.  Ski resorts make a lot more money.  Why not combine the the areas and make a grand resort?  Eventually the real estate market will change, so in another 5 or 10 years the sunk cost will start to be recouped.  Meanwhile, the principals can stoke their egos with something other than their balance sheets.  If all of this produces a better skiing experience for the public, no objections will come from me.

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post #21 of 27
7/14/11 at 7:40pm
Quote:
Originally Posted by quant2325 View Post

The hedge funds have money, and they are not buying ski areas for their current earnings.  They are looking at creating something monumental that will outlive the principals and leave a legacy for their kids and grandkids.  It is an ego trip, and there is absolutely nothing wrong with that.  The Canyons Resort is a perfect example.  Talikster took it over and they did three years worth of improvements in one year, with no expense spared.  In time with approvals, they can keep stretching the area out towards PCMR.  KSL will do something similar. Ski areas might make a few bucks when the real estate market is good.  Ski resorts make a lot more money.  Why not combine the the areas and make a grand resort?  Eventually the real estate market will change, so in another 5 or 10 years the sunk cost will start to be recouped.  Meanwhile, the principals can stoke their egos with something other than their balance sheets.  If all of this produces a better skiing experience for the public, no objections will come from me.


This is what I call the "Giant Model Train Set".

 

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post #22 of 27
7/14/11 at 11:48pm

 

Fyi from theskichannel on 2nd July:

 

"Rumors have gone from a few to a lot that a purchase of Alpine Meadows by Squaw Valley with the backing of multi-resort owner KSL, is imminent.  Alpine Meadows the home Jamaican Ski Team of One, Errol Kerr has been in the sights of KT-22 owner Squaw Valley for a decades.  Although Squaw officials have denied publically that all the rumors are true, many insiders have acknowledged that a letter of intent has been signed and that the transaction is likely. 

The two resorts are seperated by a piece of land with an affable owner meaning a merger of the two resorts and the acreage in between could create a true mega-resort with size, incredible terrain and some of the best freeskiers in the world.

Squaw quiver is fairly unmatched anywhere in the with names like Julia Mancuso, JT Holmes, Cody Townsend, Mike Wilson, Tim Dutton, the Backstrom family just to name a few.

www.theskichannel.com will keep everyone abridged on the matter."

 

So its just rumours. Or is it? Who knows

 

 

 

 

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post #23 of 27
7/15/11 at 10:43am

For those of you who live in Truckee and Tahoe City... do you think the creation of a mega resort will have a significant impact on real estate prices?  Assuming SquaWolfPine Meadows becomes a Whistler Blackcomb like destination...

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post #24 of 27
7/15/11 at 12:50pm
Quote:
Originally Posted by jaytierney View Post

For those of you who live in Truckee and Tahoe City... do you think the creation of a mega resort will have a significant impact on real estate prices?  Assuming SquaWolfPine Meadows becomes a Whistler Blackcomb like destination...



I live in the East Bay, but the answer is obviously yes. The construction jobs created alone will help a lot with the local economy.  More skiers means more tax revenue and more people coming back for summer vacations.  The issue of water, roads, traffic patterns, etc. will have to be addressed.  The buyers will have the funding to make it work without destroying the natural beauty of affected area.

 

Shilling is calling for another 20% drop in real estate, and he has been right before.  Maybe it happens and maybe it doesn't  Regardless, any local area going through a construction and sales boom will do better than the overall real estate market.

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post #25 of 27
7/15/11 at 1:02pm

I live in the North Bay and think the answer is obviously yes, but that's why I'm asking for a local perspective.  I'm wondering if it'll take more than just combining the resorts to have a big impact, such as the creation of a sprawling resort town almost.
 

Quote:
Originally Posted by quant2325 View Post


I live in the East Bay, but the answer is obviously yes. The construction jobs created alone will help a lot with the local economy.  More skiers means more tax revenue and more people coming back for summer vacations.  The issue of water, roads, traffic patterns, etc. will have to be addressed.  The buyers will have the funding to make it work without destroying the natural beauty of affected area.

 

Shilling is calling for another 20% drop in real estate, and he has been right before.  Maybe it happens and maybe it doesn't  Regardless, any local area going through a construction and sales boom will do better than the overall real estate market.



 

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post #26 of 27
9/26/11 at 4:10pm

Well Unofficial say SOME MAJOR MAJOR NEWS TODAY AND THIS WEEKEND REGARDING SQUAW VALLEY’S MERGER WITH ALPINE MEADOWS!!

Sources close to the matter tells us that the purchase of Alpine Meadows by Squaw Valley USA is DONE and Alpine Meadows employees already know!  We don’t have much on the deal, but our sources have confirmed that Squaw Valley USA/KSL is in fact now the proud owner of neighboring Alpine Meadows.  We also hear Squaw is planned to make a public announcement within a day"

 

 

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post #27 of 27
9/28/11 at 1:15am
Thread Starter 

Squaw Valley and Alpine Meadows merge to become part of a new parent company Squaw Valley Ski Holdings LLC with access to more than 6,000 acres, 8 mountain peaks, 44 lifts, more than 270 trails, and a common shared ridgeline.  

*  KSL Capital Partners (owner of Squaw Valley) will have majority ownership of new Squaw Valley Ski Holdings while JMA Ventures (owner of Alpine Meadows) will have minority ownership.   

*  Merger subject to approval by US Forest Service and the California Tahoe Conservancy but expected to close prior to 2011-2012 season.  

*  Planned $50 million Squaw Renaissance capital improvements over next 3-5 years will continue.  Substantial investment in guest experience at Alpine Meadows expected.  

*  New dual mountain options - Tahoe Super Pass (7 day) adult $439-799 depending upon blackout dates purchased by 11/30/11, Tahoe Super Six (6 day unrestricted card) adult $399.



VIDEO

Video of merger announcement by Andy Wirth (CEO Squaw Valley Ski Holdings) from the top of KT-22 with Alpine Meadows and Squaw Valley lifts visible in the background on Tahoetv  http://video.tahoetv.com/tv/427/index.php?mid=52695&vid=427



INTERCONNECT POSSIBILITIES

(Post your photos and topographic images of possible interconnect areas into this thread.  Discuss where lifts would need to be added/extended to interconnect (specify trail/area and associated resort) and pros/cons/obstacles of each interconnect option.):

a)  White Wolf owned by Troy Caldwell who currently leases the top of KT-22 to Squaw Valley.  KT-22 (8,200' elevation)

b)  Sun Bowl off Squaw Peak (8,900' elevation) to Estelle Bowl or Beaver Bowl at Alpine Meadows?

c)  Other ideas?

Squaw Valley Trail Map  
http://www.squaw.com/squaw-valley-usa-mountain-map

Alpine Meadows Trail Map  http://www.skialpine.com/mountain/maps/
http://www.skialpine.com/images/Alpine_Trail_Map_-_09-10.jpg

"The idea of literally joining the two ski areas isn't lost on the guys behind this merger," Squaw Valley spokesperson Amelia Richmond told ESPN.    http://espn.go.com/action/freeskiing/story/_/id/7026436/squaw-valley-alpine-meadows-merge



SKIABLE ACRES

What other resorts have similar or larger skiable acres (specify resort, country, & skiable acres and if known - number of lifts) in the U.S.? Canada? Europe? other parts of the world? 

 

Based on skiable acres, what is the top 10 list for North America?

 

Based on skiable acres, what is the top 25 list for the world?



PRESS RELEASE

http://www.squaw.com/press-release/alpine-meadows-and-squaw-valley-join-forces OR

http://www.marketwatch.com/story/squaw-valley-and-alpine-meadows-announce-the-combination-of-two-legendary-mountain-destinations-2011-09-27

press release
Sept. 27, 2011, 9:00 a.m. EDT

Squaw Valley and Alpine Meadows Announce the Combination of Two Legendary Mountain Destinations
Two of North America's renowned mountains join forces to provide enormous variety of terrain and adventure

SQUAW VALLEY, Calif. & ALPINE MEADOWS, Calif., Sep 27, 2011 (BUSINESS WIRE) -- Squaw Valley and Alpine Meadows Ski Resort announced today that the two North Lake Tahoe ski resorts have agreed to combine operations under common ownership and offer season passes and lift tickets that will allow guests to enjoy skiing and riding on both mountains. The transaction is expected to close prior to the commencement of the 2011-12 winter season.

Squaw Valley, known for its expansive, legendary terrain -- over 3,600 acres -- and the host site of the 1960 Winter Olympics, opened for skiing over 60 years ago. Alpine Meadows opened in December, 1961 and quickly gained and maintained a reputation for its varied terrain, authentic friendliness, and family atmosphere. The combination of the two resorts promises to create a mountain experience like no other in California, with over 6,000 skiable acres of varied terrain spread across eight Sierra Nevada mountain peaks, which boasts some of North America's highest average annual snowfall, last winter exceeding 800 inches. Located on the North Shore of Lake Tahoe, California, the two resorts are less than a ten minute drive from each other.

"Combining Alpine Meadows and Squaw Valley will provide our guests something truly remarkable -- a mountain experience unmatched in California, inclusive of expansive and family friendly terrain," said Andy Wirth, president and CEO of Squaw Valley. "In today's economic environment, skiers and snowboarders are looking for more -- more terrain and value. The all new Tahoe Super Pass and Tahoe Super Six which allow guests, with one pass, access to both of these incredible mountains provides unmatched value," said Wirth. Wirth will take the helm as the president and CEO of the new combined entity of Squaw Valley and Alpine Meadows.

"As a long-time skier with a family dedicated to Tahoe, I'm excited to bring these two remarkable resorts together and we agree that a key element of success is maintaining each resort's character," said Todd Chapman, president and CEO of JMA Ventures (JMA), owner of Alpine Meadows. "While both resorts are unique, this partnership is a natural fit, as what unites our brands and the spirit of our mountains is our guests' desire for exploration and adventure."

The companies also announced an all new dual mountain season pass and six day card. The all new Tahoe Super Pass will be available starting at $439 for adults, with the unrestricted adult pass available for $799, providing unlimited skiing and riding at both resorts for winter 2011-12. Also, the all new Tahoe Super Six is available for $399 for adults and provides six unrestricted days of skiing and riding for the 2011-12 season. Both the Tahoe Super Pass and the Tahoe Super Six are immediately available for sale and additional information can be found at http://www.squaw.com or by contacting the Squaw Valley Resort & Activity Sales Department at 1-800-403-0206.

Squaw Valley and Alpine Meadows also offer significant added value for all of their existing passholders (Gold, Silver and Bronze passes at Squaw, and Unfiltered, Slightly Filtered and Filtered passes at Alpine Meadows) for winter 2011-12. All of these passes previously purchased at Squaw or Alpine for winter 2011-12 will become valid for skiing and riding at both mountain resorts. Respective day of week and date restrictions will apply for previously purchased season passes. Those who previously purchased both a Squaw and Alpine pass or who have other questions regarding their existing pass can call 1-800-403-0206 or visit http://www.squaw.com .

As part of the transaction, an investment affiliate of JMA Ventures (JMA), will convert its ownership of Alpine Meadows into partial ownership of the combined company. KSL Capital Partners, LLC (KSL), the owner of Squaw Valley, will be the majority owner of the combined company. Both owners have a deep commitment to the two resorts and to the Tahoe region. KSL, as part of its acquisition of Squaw Valley, has earmarked $50 million in capital improvements to Squaw Valley over the next three to five years, many of which will be apparent this winter. Customers can also anticipate that Alpine Meadows will see a substantial investment in the guest experience. The closing of the transaction is subject to approval by the US Forest Service and the California Tahoe Conservancy. JMA will continue to independently own and operate Homewood Mountain Resort.

Situated less than ten minutes from one another, Squaw Valley and Alpine Meadows are ideally located in North Lake Tahoe, California, just off Interstate 80, 45 miles west of Reno, Nevada, and 200 miles northeast of San Francisco.

Auction of the first issued Tahoe Super Pass to Benefit the Humane Society of Tahoe Truckee

For fans of both Squaw and Alpine, being able to ski and ride both resorts on one pass is a dream come true -- and someone will be lucky enough to purchase the very first combined season pass for the two resorts.

"The opportunity to have bragging rights to that first Alpine Meadows and Squaw Valley combined pass, Tahoe Super Pass number 00001, will be coveted and its value should benefit a local cause important to our guests and our staff," said Andy Wirth.

Squaw and Alpine will conduct an online auction on eBay for the first issued Tahoe Super Pass. All proceeds raised from auctioning this first pass will benefit the Humane Society of Truckee Tahoe, an organization important to the guests and team members of both resorts.

About Squaw Valley

Host of the 1960 Winter Olympics, Squaw Valley is internationally renowned for its legendary terrain that spans over 3,600 skiable acres, six peaks and 30 lifts. From the expansive mountaintop beginner area to unrivaled expert steeps, trees and bowls, the resort offers terrain for all abilities. Off the mountain, families relax around the cozy village fire pits or stroll the pedestrian-friendly streets to enjoy a host of restaurants, boutiques, specialty wine shops and art galleries. This winter, guests can enjoy new dining experiences, a new day lodge, vastly improved facilities at the base and on mountain and a new snowsports school as part of the resort's $50 million renaissance.

Click here to view the Squaw Valley Trail Map.  http://www.squaw.com/squaw-valley-usa-mountain-map

About Alpine Meadows

Ranked as a top winter resort by SKI Magazine, Alpine Meadows is known for its abundant and varied skiable terrain, family-friendly atmosphere, and innovative children's ski and snowboard programs. Alpine's seven powder bowls, summit-to-base groomed slopes, and authentic hospitality have long been the resort's reputed attributes among the local community and visitors alike. Alpine Meadows offers skiers and riders access to more than 100 trails across 2,400 skiable acres serviced by 14 lifts. With its high annual snowfall, the resort boasts one of Tahoe's longest skiing and boarding seasons, which this past season, along with Squaw Valley, ran through July 4th.

Click here to view the Alpine Meadows Trail Map.  http://www.skialpine.com/mountain/maps/



MERGER FAQ

Squaw Valley and Alpine Meadows FAQ  -  Visit http://www.squaw.com/squaw-alpine-faq for all 29 questions.

Selected highlights from some questions below:

1. Is my Alpine Meadows pass valid at Squaw Valley or my Squaw Valley pass valid at Alpine Meadows?

Any Tahoe Super Pass and the below 2011-12 Squaw Valley or Alpine Meadows season passes purchased prior to September 27 and are interchangeable between the two resorts:

    * Unfiltered = Gold Pass, valid daily all season long, no restrictions
    * Slightly Filtered = Silver Pass, valid daily, excluding 10 Blackout Dates: Dec. 26-31, 2011; Jan. 14-15, 2012; Feb. 18-19, 2012
    * Filtered = Bronze Pass, valid daily excluding 10 Blackout Dates: Deb. 26-31, 2011, Jan. 14-15, 2012; Feb. 18-19, 2012 and Saturdays in Jan. and Feb. The Mon-Fri, non-holiday Squaw Only pass is valid only at Squaw.

The below passes are not interchangeable at Alpine & Squaw:

    * Squaw Midweek - The Squaw Midweek pass will only be good Monday - Friday, excluding 10 blackout dates at Squaw only.
    * Alpine/Homewood/Kirkwood pass - The Alpine/Homewood/Kirkwood pass purchased after September 27, will not be valid at Squaw.
    * Tripl3Threat College Passes - The Triple Threat College Pass is not valid at Squaw Valley. You can migrate to the Tahoe Super College Pass for Squaw access but the College Tahoe Super Pass is not valid at Kirkwood or Homewood.

2. Is my Alpine Meadows pass also valid at Homewood and Kirkwood?

If your pass was purchased prior to September 27, 2011 and it included Homewood and Kirkwood ski privileges, yes, your pass will be valid at those resorts. Tahoe Super Passes are not valid at Homewood or Kirkwood.      

3. Is  my 2011-12 Squaw Pass also valid at Homewood and Kirkwood?

Any pass purchased at Squaw Valley is now also valid at Alpine Meadows, but does not include ski privileges at Homewood or Kirkwood.

13. What passholder benefits will I receive as a Squaw Valley/Alpine Meadows passholder?

Passholders will receive benefits at both resorts.

Squaw Benefits:

    * Village at Squaw Valley lodging discounts.  25% off Sunday through Thursday stays and 10% off Fridays and Saturdays;  June 1 - December 15, 2011. Some restrictions apply. See details: http://www.thevillageatsquaw.com/promotional-1/index.cfm
    * Exclusive lodging discounts at these KSL Resorts:  Hotel Del Coronado, La Costa, Rancho Las Palmas, Homestead, Barton Creek, and Montelucia
    * One adult full day lift ticket at the afternoon rate on dates that your pass is blacked out.  Tickets are non-transferrable & for passholder use only.
    * Bring a friend and receive $10 off of an adult all day lift ticket or $5 off a senior, youth or child lift ticket.  Valid when winter pass is valid, limit one discount ticket per passholder, per day. Passholder must be present for purchase.
    * 30% discount on Adult Snowsports School private half-day lesson (3-hours) with minimum 24-hour advance reservation required, up to five people (non-holiday)
    * Invitation to the Annual Passholder party.
    * 15% off Squaw Valley USA retail purchases (does not include hard goods).
    * 15% off Winter Season Squaw Valley Preferred Parking Passes.
    * Night Skiing at Squaw Valley-when in operation.
    * Discounts at Whistler Blackcomb:
    * Squaw Valley USA/Alpine Meadows 2011-12 Season Passholders will receive $25 (Canadian) off on Adult lift tickets at Whistler Blackcomb. The discount will apply on multi-day tickets up to 5 of 6 days.

Alpine Benefits:

    * Access to free wifi in the Alpine Meadows Lodge.
    * 20% Off - Demos or rentals, Monday - Friday, Non-Holiday.*
    * 50% Off - Repairs, Monday - Friday, Non-Holiday.
    * 20% Off - Kids & Adult Group Lessons, Monday- Friday, Non-Holiday. Advanced reservations required. Please contact Ski School 530.581.8200. Can not be applied to online discount prices.
    * 50% Off - VIP Parking - Purchase a book of five at Special Tickets prior to parking. Valid Mon-Fri.
    * 25% Off - Breakfast on Wednesdays.
    * $7 Apres Ski Tacos Tuesdays - 2 beef tacos and a Corona (2-5 p.m.)
    * $3 PBR draft everyday.
    * 10% Off - All Alpine Meadows logo items in Estelle Sports.
    * Free Wi-Fi in the Lodge - Alpine Club members can access the Wi-Fi in Alpine's Lodge for free; just enter your pass/card number when logging in.

17. Are the RFID (radio frequency id) gates going to be the same at each resort?

Yes the gates will be the same RFID system at both resorts.   

 25. If I have purchased both a Squaw and an Alpine Meadows pass for the 2011-12 season, can I get a refund for one of them?

Yes, we will refund the lower priced of the two products. 

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