Hermon Mountain for Sale

NewEnglandSkier13

http://properties.svn.com/1064498-sale

I would love to know the reasoning of why it has been put up for sale. I've met the owner and he seemed really passionate about the mountain. Maybe he just wants to retire? The mountain does really good business and is always busy.

newpylong

They will be lucky to get half of what they're asking for.

rickbolger

Probably set up a good wedding & function business. Daughters skied there, said it was small, yet fun, good vibe. They told me it was my kind of place, I would like it there :)

But still, I agree with newpylong.

Unless there's some really unknown value there, the seller is going to need some wind taken out of their sails before anybody can put a deal together.

conrad

He might not really want to sell, but could be convinced if someone threw that kind of money at him.

rickbolger

ah. everything is for sale at the right price kind of thing

lotsoskiing

How much of the property could be subdivided and built on? That's where the value lies.

z1000307470

Maybe there are mineral rights and there is gold or natural gas on the property.

NewEnglandSkier13

Sounds like they want to retire: https://www.newenglandskiindustry.com/viewstory.php?storyid=968

mapnut

Sorry to say, the way snowfall and season length is trending in the northeast and even in the Rockies, I can't see why anyone would invest money in the ski industry. The big resorts are upgrading, since they're still raking in money as of now, but it's short-sighted.
I look back with bemusement on all the "Design Challenge" topics I started, in which we laid out plans for new major ski areas in the Northeast. The only one actually proposed, The Balsams, doesn't seem to be getting off the ground.

powderstud

mapnut;c-55960 wroteSorry to say, the way snowfall and season length is trending in the northeast and even in the Rockies, I can't see why anyone would invest money in the ski industry. The big resorts are upgrading, since they're still raking in money as of now, but it's short-sighted....The only one actually proposed, The Balsams, doesn't seem to be getting off the ground.

Mapnut, how can you say that? Les Otten has made great progress!! He was able to line up financing from <mumble> and NH <mumble>, and don't forget the double-watusi, plus that hedge fund, the pre-sales for condos have been really strong, and...telecommuting!! Plus he's indicated some of the big boys are in the wings. It's right around the corner, folks - take Les Otten's word for it.

joshua_segal

powderstud;c-55961 wrote
mapnut;c-55960 wroteSorry to say, the way snowfall and season length is trending in the northeast and even in the Rockies, I can't see why anyone would invest money in the ski industry. The big resorts are upgrading, since they're still raking in money as of now, but it's short-sighted....The only one actually proposed, The Balsams, doesn't seem to be getting off the ground.
Mapnut, how can you say that? Les Otten has made great progress!! He was able to line up financing from <mumble> and NH <mumble>, and don't forget the double-watusi, plus that hedge fund, the pre-sales for condos have been really strong, and...telecommuting!! Plus he's indicated some of the big boys are in the wings. It's right around the corner, folks - take Les Otten's word for it.

To me, this posting seems more like AZ sarcasm than an SJ posting.

Like it or not, Les Otten made huge contributions to the skiing industry.
1. That he was able to wrest money from investors seems to be consistent with the current values of our society.
2. That most areas have HS-detachables can be attributed to Otten.
3. The Grand Hotel concept has become ski-area-normative which can also be attributed to Otten.

I can see why DrJeff might have issues with Jim Barnes. But what's your issue with Otten, powderstud? Did you lose money in an investment in ASC? Were you well-to-do enough to have been sucked into his financial juggernaut?

Do you hate on Ken Olsen for the failure of DEC or any of 1000 companies that took investors' money only to have it evaporate?

NewEnglandSkier13

I found what Powderstud posted quite funny. I guess we can't bash any sort of corporate interest around here.

mapnut

I dislike The Balsams because they STILL have a fake ski area photo on their website.
https://thebalsamsresort.com/vision/ski-expansion/

yardsale

NewEnglandSkier13;c-55965 wroteI found what Powderstud posted quite funny. I guess we can't bash any sort of corporate interest around here.

Correct - it was funny. Defending Otten is the laughable part. Pretty soon, a lot of us will actually move to AZ. Les Otten / Les moderation please.

joshua_segal

yardsale;c-55967 wrote
NewEnglandSkier13;c-55965 wroteI found what Powderstud posted quite funny. I guess we can't bash any sort of corporate interest around here.
Correct - it was funny. Defending Otten is the laughable part. Pretty soon, a lot of us will actually move to AZ. Les Otten / Les moderation please.

I gave my opinion. I did not moderate! Moderate implies deleting something or editing something.

As a group we are very supportive of resurrecting all kinds of out-of-business ski areas. Where was the criticism of the failed efforts at Tenney, Granite Gorge, Blandford, etc.?

yardsale

When you mention AZ, moderation or declaring a thread spam is not far behind. Calling a post AZ sarcasm is beneath you. I prefer it would stop. That's my opinion.

newpylong

I hate many of the ASC area design decisions/alterations that were made in the era but there is absolutely no questioning that nearly every ski area is better off today due to the infrastructure that was put in place by Otten and the traffic that was driven by the ASC passes. If they did not overleverage and go as nuts with the real estate I feel as though they would have survived and been what Vail wishes they were.

joshua_segal

newpylong;c-55971 wroteI hate many of the ASC area design decisions/alterations that were made in the era but there is absolutely no questioning that nearly every ski area is better off today due to the infrastructure that was put in place by Otten and the traffic that was driven by the ASC passes. If they did not overleverage and go as nuts with the real estate I feel as though they would have survived and been what Vail wishes they were.

+1

Their debt servicing at high interest rates is what killed them.

yardsale

newpylong;c-55971 wrote If they did not overleverage and go as nuts with the real estate I feel as though they would have survived and been what Vail wishes they were.

So we shouldn't weigh this part of Otten's legacy? Otten is the best ski area operator ever then - hands down. Let's close out the discussion. We can do the same and close the "rate this season vs. the last 10" thread in February, right? Is that how it works - we only look at the best parts?

I'm guessing there might be too much AZ sacarasm here...

newpylong

I have no idea what you're talking about. I was just adding my Otten comment to the mix.