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Mammoth ski resort sells controlling interest

 
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JohnD
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PostPosted: Oct 05, 2005 4:08 pm    Post subject: Mammoth ski resort sells controlling interest Reply with quote

Interesting...

http://www.signonsandiego.com/news/business/20051005-1135-ca-mammothsale.html
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chavez
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PostPosted: Oct 05, 2005 9:00 pm    Post subject: Reply with quote

Well, I don't blame them at all.

Dave is ancient, Roma ain't no spring chicken, Stanton is too busy screwing around with his Nascar fantasies to step in, and his other brother (forget his name) is busy playing Hollywood director (supposedly he is working on a Cannonball run remake).

So, as you can see, aside from Roma, the family is too busy to deal with it.

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Bethany
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PostPosted: Oct 06, 2005 9:39 am    Post subject: Reply with quote

I just hope it doesnt turn into an Aspen.... Rolling Eyes
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jryoung
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PostPosted: Oct 06, 2005 9:47 am    Post subject: Reply with quote

It looks like they've already changed the website from

www.mammothmountain.com

to

www.mammothresort.com



Mammoth's saving grace with be location, it's still too remote to become an Aspen.

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chavez
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PostPosted: Oct 06, 2005 9:49 am    Post subject: Reply with quote

Bethany, hold on to your ass, cuz I guarantee that is the direction Intrawest/Starwood (read: Sheraton, WESTIN, ST. REGIS) are going to take it.

I give it 3 years, and there will be a full blown Westin destination resort there, and commercial puddle-jumpers begin flying consistently in to that podunk airport in Bishop.

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J-Ro
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PostPosted: Oct 06, 2005 10:32 am    Post subject: Reply with quote

chavez, Exactly.....think Sun Valley, Whistler, Beaver Creek, etc.
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sperbet
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PostPosted: Oct 06, 2005 10:44 am    Post subject: Reply with quote

chavez is right. the same thing is going to happen to Squaw as well. Once Alex Cushing dies Intrawest is going to buy it and go Whistler with it. I think they may try to buy Alpine as well and combine the two. These ski corporations are starting to get a bit out of hand.
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J-Ro
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PostPosted: Oct 06, 2005 11:09 am    Post subject: Reply with quote

sperbet, Yeah, Squaw is already getting bad but there have been rumors about the two merging for a while now.

Unfortunately, in the end, you can thank the enviros for all of this. Since there will NEVER be another new resort built in CA, the only way for people to make money in that industry is to merge or sell.

Go Homewood! Rolling Eyes

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JohnD
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PostPosted: Oct 06, 2005 11:22 am    Post subject: Reply with quote

The money is not made on the mountain, it's made off the mountain from lodging to restaurant to leasing out commercial space. I don't think Starwood is interested in the Mammoth Mountain Ski Area, but the land around Mammoth Lakes that is owned by MMSA.

I would love to see Starwood build more around town. Mammoth lacks decent dinning, clubs, hotels, etc... Let's face it, it's boring! On the other hand, I don't want to see the mountain become over crowded.

I think Intrawest has done a great job with Whistler. Off mountain, Whistler is a blast and on the mountain they have plenty of room. Between Whistler and Blackcomb it's easy to find great runs with few or no people.

~J.
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J-Ro
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PostPosted: Oct 06, 2005 11:47 am    Post subject: Reply with quote

Quote:
The money is not made on the mountain


But that's what brings people there, no?

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JohnD
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PostPosted: Oct 06, 2005 11:56 am    Post subject: Reply with quote

J-Ro wrote:
But that's what brings people there, no?


Definitely!

My point is Starwood is not so interested in the ski area as they are the property around it.

~J.
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Bethany
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PostPosted: Oct 06, 2005 12:28 pm    Post subject: Reply with quote

JohnD wrote:
I would love to see Starwood build more around town. Mammoth lacks decent dinning, clubs, hotels, etc... Let's face it, it's boring! On the other hand, I don't want to see the mountain become over crowded.


~J.

That's the point though... if you build they will come. It's going to be over crowded.. more than it already is during winter months. The fact that Mammoth is so small still, is why people love it and live there. I was considering moving there after I graduate to work but if it turns into Whistler than forget it.

Mammoth has decent dining.. its a mountain town. And it doesn't need any clubs... Bars that you can roll into in your boots, beanie and sweatshirt is fine by me.
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jryoung
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PostPosted: Oct 06, 2005 5:35 pm    Post subject: Reply with quote

J-Ro wrote:
Unfortunately, in the end, you can thank the enviros for all of this. Since there will NEVER be another new resort built in CA, the only way for people to make money in that industry is to merge or sell.


There is no way you can place all the blame on environmentalist for industry consolidation. I would guess that it is too costly to start a new resort without some sort of set infastructure. Not to mention it is industry maturity that consolidations happen, that is simply what is happening with the ski/snowboard industry. It's America we love big business.

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JohnD
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PostPosted: Oct 06, 2005 7:41 pm    Post subject: Reply with quote

Having been through several corporate consolidations myself, I know it is easier to buy another company or product then it is to try to start a new company or product. It would cost you way more than $345 million to start-up another "Mammoth". Not to mention the name recognition, etc.

So even if you could acquire the land, it may not be the best business decision to do so.

~J.
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jryoung
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PostPosted: Oct 06, 2005 7:45 pm    Post subject: Reply with quote

Bethany wrote:

Mammoth has decent dining.. its a mountain town. And it doesn't need any clubs... Bars that you can roll into in your boots, beanie and sweatshirt is fine by me.


Didn't you post some pics last year with some less than desireable women as shot girls or pole/cage dancers?

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Bethany
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PostPosted: Oct 06, 2005 8:18 pm    Post subject: Reply with quote

Yep, sure did. I call them trolls. After that time, I have yet to see them there again.

ps.. why have stuff that like in Mammoth when we can go to Tahoe for it. Laughing
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jryoung
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PostPosted: Oct 06, 2005 9:14 pm    Post subject: Reply with quote

Ain't nothing wrong with a little whiskey tango
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PostPosted: Oct 07, 2005 7:32 am    Post subject: Reply with quote

jryoung, Sure I can. Because Enviros (EPA, Sierra Club, etc) have made it impossible to build a new resort, therefore for corporations to make more money, they either need to make their current resort bigger (Hard to do because of said enviros) or buy other resorts.

Chavez shot me this link dyermountain.com but there are lawsuits all over the place and the impact report is still being gone over. I'll be shocked if it happens. If you read through the hoops they had to jump through to even get to this stage, its no surprise there are no new resorts in Ca.

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jryoung
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PostPosted: Oct 07, 2005 9:18 am    Post subject: Reply with quote

J-ro Do you have a link that works? I am interesting in seeing a study or some numbers regarding the issue. I still believe in what I said along with JohnD, it's a fact of industry maturity. Also, from a business perspective that the tax code would favor a merger over starting a new resort from scratch.
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PostPosted: Oct 07, 2005 9:43 am    Post subject: Reply with quote

http://www.dyermountain.org/

Does anyone know what the last resort actually built in California is? I don't remember but I do know that the Disney Corp tried to build a resort in the Sierras East of Three Rivers (South Central Valley) about 20 years ago and it failed miserably. A lot of it has to do with the fact that most mountain areas are in a National Park or Wilderness area that is incredibly protected.

I don't see an industry maturity here. You have one of the fastest increasing sports & leisure activities in California in the last 20 years. Regardless of the statistics, you and I can tell that simply in the fact that 20 years ago there wasn't near the amount of people at any given mountain than there is now. That increase in consumers is not indicative of a mature industry but is indicative of an industry that can no longer expand its core business (The actual slopes) only the outlying source of revenue which is Apres-ski and Lodging.

I believe this is directly attributed to the enviros. Enviro isn't a bad thing. It's just that there are extremely difficult hoops to jump through to start a new resort. In many areas (CA, CO) it is just too much money (Due to those restrictions) to start a new resort. So the corps buy the little guys and basically they are buying the permit to use the area for skiing. It's cheaper.

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