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Your chance to own your very own ski resort

post #1 of 22
Thread Starter 
post #2 of 22

Looks like the place could double their vertical...maybe the lower slopes are on their own private land.

 

It looks just like real Midwest skiing -- same closing date of mid-March too.

 

14250_1_lg.jpg


Edited by MidwestPete - 5/12/12 at 2:57pm
post #3 of 22

I live right up the road from the GC.  It is a gem!  The ski area is directly across the valley with about 1000' vertical at a relatively low elevation.  They do have some snowmaking & a pretty good pitch on the main run.  In fact many of the Olympic teams staying in the valley in 2002 did their gate training there.  The area does a brisk afternoon & night skiing business with the local school kids & families.  There were a number of factors that put the place into chapter 11, but IMO it was an over zealous managing group jumping the gun on exclusivity & hedging on real estate development.

 

JF

post #4 of 22

If I'm reading the article right, out of 3000 acres, only 110 acres is the ski resort????

post #5 of 22
Quote:
Originally Posted by sibhusky View Post

If I'm reading the article right, out of 3000 acres, only 110 acres is the ski resort????

Yes, you are reading it right.  The ski area is small, the other 2890 acres are the GC surrounding facilities & un-developed real estate.  Also Powder Mountain is just up the road from the GC & Snowbasin is on the other side of the lake.

 

JF

post #6 of 22

So, basically it's a GOLF CLUB that attempted to have skiing and didn't consider the competition. 

post #7 of 22
Quote:
Originally Posted by sibhusky View Post

So, basically it's a GOLF CLUB that attempted to have skiing and didn't consider the competition. 

No, the ski area has been there a long, long time.  It used to be called Nordic Valley.  Wolf Creek is the golf course, they bought the ski area during the boom & actually made some nice improvements.  The ski area has a niche & has actually done quite well.  It was the effort of greedy developers trying to privatize the whole thing that got it into trouble.

 

JF

post #8 of 22

$27-34 million...that makes the $18 million Vail paid for Kirkwood seem like a spectacular deal....at least as far as the skiing goes.  I really hope whoever ends up owning the place doesn't screw it up.  I think Eden is one of the last undiscovered gems and I hope it stays that way just in case I convince my wife to move to Utah.

post #9 of 22

Never skied there, but Wolf Mountain seems popular with beginners - cheaper and less intimidating than anywhere else around. It also has cheap night skiing and I'd say it's more of a complement to than a competitor of Snowbasin/Powder.

post #10 of 22
post #11 of 22
Quote:

Originally Posted by MidwestPete

 

Looks like the place could double their vertical...maybe the lower slopes are on their own private land.

It looks just like real Midwest skiing -- same closing date of mid-March too

 

 

Originally Posted by 4ster View Post
 

I live right up the road from the GC.  It is a gem!  The ski area is directly across the valley with about 1000' vertical at a relatively low elevation.  They do have some snowmaking & a pretty good pitch on the main run.  In fact many of the Olympic teams staying in the valley in 2002 did their gate training there.  The area does a brisk afternoon & night skiing business with the local school kids & families.  There were a number of factors that put the place into chapter 11, but IMO it was an over zealous managing group jumping the gun on exclusivity & hedging on real estate development.

 

JF

 

OK - I take back what I said. With a 1000' vertical it is nothing like the Midwest. biggrin.gif

post #12 of 22

It's funny you mention the idea of them extending their vertical.  When we were in Utah in March we stayed in Eden.  The view from the deck and lower level hot tub of the house we stayed in was of Wolf Mountain.  We discussed the potential that existed above the ski area while enjoying some beers on a couple of afternoons.

post #13 of 22
Quote:
Originally Posted by SHREDHEAD View Post

What's the story with Powder Mt.?  Did it sell or not?

 

http://betabeat.com/2012/03/01/summit-series-bought-powder-mountain-utah-40-million-03012012/


I sure hope that is nothing more than rumors and speculation because I would hate to see one of my favorite places to ski ruined with a bunch of money.

post #14 of 22
Quote:
Originally Posted by SHREDHEAD View Post

What's the story with Powder Mt.?  Did it sell or not?

 

http://betabeat.com/2012/03/01/summit-series-bought-powder-mountain-utah-40-million-03012012/


Everything in this article sounds the same as what I heard a few weeks ago from someone involved in this deal. I was told the basic business plan is similar to what was done with Yellowstone Club.

post #15 of 22

I skied with a guy a couple years ago that lived in Russia until very recently.  He said his family belonged to a private ski area there.  He described it as very bare bones, but with decent vert and terrain.  Sometimes they even had to start and run the lifts (only one or two?) themselves.  I didn't think to ask what happened if the lift stopped/stalled while they were on iteek.gif.  Anyway, he said a bunch of families kicked in to the overall operating expenses and they paid a few folks to come maintain it part time along with working there themselves to keep it functional. 

post #16 of 22

If Wolf Mountain's niche was getting beginners on the hill, they don't have much of a niche.  I've lived within a few hours of SLC for 24 years, and never skied this place (nor even considered it).  Harder to get to than resorts with way better skiing.  This place would do well if it were the only ski area for 300 miles.  There is usually a good reason for ski hills to go kaput.

post #17 of 22
Quote:
Originally Posted by TallSkinnyGuy View Post


Everything in this article sounds the same as what I heard a few weeks ago from someone involved in this deal. I was told the basic business plan is similar to what was done with Yellowstone Club.

Man I hope not.  That will be the ruination of the hill. 

post #18 of 22
Quote:
Originally Posted by cstreu1026 View Post

It's funny you mention the idea of them extending their vertical.  When we were in Utah in March we stayed in Eden.  The view from the deck and lower level hot tub of the house we stayed in was of Wolf Mountain.  We discussed the potential that existed above the ski area while enjoying some beers on a couple of afternoons.

 

Yep  -- looks most definitely like they could increase vertical.

double wolf.jpg

post #19 of 22

With it's low elevation, any fresh snow at Wolf Creek makes Sierra Cement seem like blower.  I only skied there once, but it was the heaviest thickest gloppiest nastiest cruft that I've experienced.  And I ski Michigan in just about all conditions, so I know all about gloppy cruft.

 

It's probably a decent hill in between storms if they squash it down with a groomer.  But for freshies? Sorry, but the hill is too low for that. 

post #20 of 22
Quote:
Originally Posted by SpikeDog View Post

If Wolf Mountain's niche was getting beginners on the hill, they don't have much of a niche.  I've lived within a few hours of SLC for 24 years, and never skied this place (nor even considered it).  Harder to get to than resorts with way better skiing.  This place would do well if it were the only ski area for 300 miles.  There is usually a good reason for ski hills to go kaput.

It's not meant for people that live "a few hours from SLC." If you're going to travel that far, you may as well go to a bigger resort. It's more of a locals mountain for beginners, night skiers and those looking to save some bucks. There are small, anonymous hills in Wyoming, too, despite the resorts with "way better skiing" not so far away.

post #21 of 22
Quote:
Originally Posted by JoeUT View Post

It's not meant for people that live "a few hours from SLC." If you're going to travel that far, you may as well go to a bigger resort. It's more of a locals mountain for beginners, night skiers and those looking to save some bucks. There are small, anonymous hills in Wyoming, too, despite the resorts with "way better skiing" not so far away.

 

Yup, and they are for sale (Snowy Range, Snow King) or recently closed (White Pine).  It's a bad business model nowadays, despite things like proximity or long history.

post #22 of 22
Quote:
Originally Posted by SportyandMisty View Post

http://www.ksl.com/index.php?nid=148&sid=20342988

 

“We believe that with the appraisals that we’ve had done and what’s out there that’s been unappraised, that number is somewhere in the area of $30 million,” said Maughan. “Best guess is somewhere between $27 million and $34 million.”

 

How about a little over 8, less the golf course.    The Summit Series guys got 1,400 acres for 500k?

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