or Connect
New Posts  All Forums:Forum Nav:

Heavenly Purchase

post #1 of 21
Thread Starter 
It is with great pleasure that we share first with you some exciting news for Vail Resorts. Earlier today, Vail Resorts entered into a contract to purchase Heavenly Ski Resort in the Lake Tahoe area of California and Nevada, from American Skiing Company for $102 million, bringing our portfolio of premier North American ski and snowboard resort destinations to five. We are now in the process of making this announcement to our investors and the media, particularly those based in Colorado, California and Nevada.

Oz [img]smile.gif[/img]
post #2 of 21
Yep - its been in the rumor mill for a few weeks out here. Heard it was pretty solid a couple of days ago.

"We share with you" . . . ?? Oh, it was a press release eh?
post #3 of 21
That's nice for Heavenly, but the Steamboat deal is now off - DRAT!
post #4 of 21
The scuttlebut is that ASC reneged on its deal to sell Steamboat to the Muellers from Okemo. :
post #5 of 21
And they're pissed...Mr. Mueller was in the plane, travelling to close the deal!!
post #6 of 21
Yeah, sounds rather harsh for the Okemo folks: press release.

Hmmm, maybe The Canyons will go up for sale???
post #7 of 21
If you think the Muellers are pissed, you should see the reaction from Steamboat locals and employees who've been screwed by ASC over the years. Mueller screwed up though, in even agreeing to a break up fee, much less a measly $500k. Absent the breakup mechanism, Muellers would have a hell of a lawsuit against ASC.
I'm starting an investor group to buy the Boat, and have seeded it with $10.00 in start up funds. Anyone in with me?
post #8 of 21
I think that relates to approx. 11 ASC shares...I got $10 CAN...that makes abooot 16 bones!
post #9 of 21
And how does this benefit the skier? Lots of new development with lower lift and accomodation prices? In our friggin' dreams. More corporate garbage... who cares?
post #10 of 21
I guess you will no longer be able to learn a "perfect turn" only "the run of the mill marginally adequate VA turn"...just kiddin OZ!
post #11 of 21
Thread Starter 
Yeh my post was the first paragragh of the press release.

VA picked up a bargain @ $120m. The rest of the press release outlined the $40m lift and mountain facilities upgrades planned. There is not much condo development room so the mountain will have to stand alone on ticket sales.

We will see some good discount airfares to Reno and an extension of the el cheapo Colorado pass to include Heavenly. What we may actually see is cheaper prices due to more targetted packaging so while it is anyones call to diss the corporation I think many in Colorado have actually been skiing for less since the 4 mountain Colorado pass was introduced. Now it will be a 5 mountain pass and available in California. (that is the proposal anyway). VA is also big on safety and very guest centered so there will be improvements in those areas. The summer season will also be a major focus. I am not sure the on mountain food will improve though.

And the ski world turns another day.

Oz [img]smile.gif[/img]
post #12 of 21
I love Vail and their cheap passes make sking financially justifyable for me. They've done a great job this year making the most of the snow they had with excellent grooming etc. I bet things only get better at Heavenly and look forward to a trip there with my pass next year
post #13 of 21
Too bad about the Mueller thing. Although Okemo and Sunapee are quite "mellow", they are by far the best managed resorts in New England.
post #14 of 21
Very guest centered?? Though I agree that the Colorado pass is a good deal, particularly for CO residents, my first experience at Vail was anything but guest centered. No discounts on single day passes from local motels, $67 bucks for a lift ticket, $12 to park from 8:00 - 1:00, and chair lifts in the back bowls that didn't start up until 10:00 AM. I think this "guest centered" mentality will fit in quite well with the sleaziness of the South Lake Tahoe casino scene...
post #15 of 21
Thread Starter 

Sorry your day did not go as you would have wished. Perhaps you should write to the company with your complaint about the lifts opening late? If you are inconvenienced the best thing to do is go to the ticket office and ask for a supervisor to discuss the issue with. You may be pleasantly suprised by the reception you recieve.

As for discount one day tickets well they are available if bought out of town or if you use your Peaks card. Check the web site for details. Its always best to plan ahead so that you can take advantage of any deals happening. If you carpooled (4 people) and parked in the parking structure you would have been eligable for a free lunch voucher. I believe free parking is available at Gold Peak for early comers and on the Frontage road & Sandstone school at peak times. Everyone agrees that Vail does have a shortage of all comers free parking and on busy days all possible is done to make the parking situation as smooth as possible.

post #16 of 21
<BLOCKQUOTE>quote:</font><HR>Originally posted by BobY:
...I think this "guest centered" mentality will fit in quite well with the sleaziness of the South Lake Tahoe casino scene...<HR></BLOCKQUOTE>

What????? Have you actually been to South Lake Tahoe recently? I really don't think it is a "sleazy casino scene" at all. Yes, you have a few casinos, Ceasars, Harrah's, Harvey's, etc., but these are well maintained towers, not run-down hovels. If you don't like casinos, you can easily avoid them because they are all concentrated within a small block or two of the Nevada state line. If you do, you can still find a $3 blackjack table at Bills.

The town doen't have chic $$$$ resort charm, but it's certainly nice enough.
post #17 of 21
<BLOCKQUOTE>quote:</font><HR>The town doen't have chic $$$$ resort charm, but it's certainly nice enough<HR></BLOCKQUOTE>
What? Did Vail just bulldoze the entire town into the lake? IMO, South Lake Tahoe is a total disaster. They took what may be the best alpine lake view in the world and completely destroyed it with uncontrolled sprawl.

I think it made sense for ASC to unload Heavenly instead of Steamboat. At Steamboat, they have a gigantic quartershare property development that the Mullers refused to buy. Without the ski area, the quartershare property would have to be completely written off since it'd be almost impossible to sell units without having promotions at the ski resort. You'll recall that ASC announced their re-org plan last summer and planned to unload Steamboat at the start of the ski season. If the Mullers hadn't dawdled and stretched it out 7 months or if they could have found a way to take that quartershare disaster off ASC's hands, they might have been able to do the deal.

In the end, I think it's a moot point. After the bankers and lawyers get done with sucking the deal dry, there won't be enough cash left over to pay down the huge ASC debt enough to keep the company solvent. Steamboat will likely be on the blocks again next year and maybe ASC will have figgr'd out a way to unload their quartershare mess by then.
post #18 of 21
WhosThatGirl --

Sorry to offend, but I actually know SLT extremely well. I grew up skiing at Tahoe and have many friends who live in the area. I still ski there at least once a year, mainly to meet up with friends. In fact, just 5 months ago I turned down an excellent job opportunity there that would have moved my wife, daughter, and I closer to our families and many good friends. The main reason we elected not to go was the excessive commercial development that continues to occur in the area, fueled mainly by gambling. Despite the development, we felt that the area displayed a striking paucity of cultural opportunities for young people. Its all good, though -- if it works for you, great.

Oz -- thanks for the pointers. I have to say that I was generally very impressed with Vail -- something I did not expect. My day there was definitely a last minute change of plans. Maybe I need to look a little deeper for that customer orientation...
post #19 of 21
BobY, oh, no, I don't live there. I agree with you on that. Too little culture.
post #20 of 21
<BLOCKQUOTE>quote:</font><HR>Originally posted by GeoffD:
If the Mullers hadn't dawdled and stretched it out 7 months or if they could have found a way to take that quartershare disaster off ASC's hands, they might have been able to do the deal.
Word around here is that ASC stalled the whole time.Also the Grand slummit or plummet as its called is selling very poorly and was very poorly built.nobody wants it
post #21 of 21
ManFromOz - I was similarly dissapointed at Breckenridge (not Vail, but still VA). The lift lines were ridiculously long and disorganized (the lift maze was half the size it needed to be). My wife was so fed up she quit at about 11:00 (a big mistake since the lines got much better in the afternoon). When she quit, I went to go see if someone could make up for the long lines. I filled out a comment card, and then went looking for someone who could do something to make it better. I visited the group sales/ season pass office, the main ticket windows and the guest services desk. They were all very friendly and understanding (and all asked me to fill out a comment card), but no one would do anything. At my local resort in Southerna California, we were authorized to do all sorts of things for unhappy guests (from free drinks to free lift tickets, depending on why they were unhappy). However at Breck, no one offered us anything to make us happy (honestly a free hot chocolate would probably have been sufficient to buy us off, although I decided to go big and request a partial refund). Unfortunately, my wife is now thoroughly displeased with VA, so it's unlikely that we'll be back skiing in CO. So, before talking about how great Vail customer service is, you might want to try it yourself, my local SoCal resort with 200 acres beats Breckenridge's hands down.
New Posts  All Forums:Forum Nav:
  Return Home
  Back to Forum: General Skiing Discussion