March 09, 2007
Fire sale at ASC
Come one, come all!
Bring a stick of wood, marshmallows, some hot dogs, a comfy chair for setting.
The Great American Skiing Company Fire Sale is on!
Wanna buy a ski area?
Sure thing. ASC has got one for you.
If you can pony up a cool $100 million or so.
Wanna get an inexpensive season pass for next year that includes skiing at six ski areas around New England?
Tough luck. No dice. Uh uh.
Survey says: "Nnnnnnnnnnnnnnnhh" {sound of loud buzzer here}
Yep, we skiers are getting sold down the river. Or thrown into the fire. Call it what you will.
Because this big ASC sell-off, which started with Heavenly and then Steamboat, before moving closer to home and consuming Mount Snow and Attitash, Killington and Pico, is here.
Home to Maine.
Sunday River and Sugarloaf are apparently on the chopping block.
All-for-One Pass?
Try All-for-Nothing.
While ASC seeks to "maximize the value of these assets," nowhere do they happen to mention their other assets: We the skiers!
Yes ASC, maybe you've forgotten about us, eh? The folks who bit big time on your great season pass deal every year for three years running now. We who have filled your coffers up front each season. And then spent gobs more every time we visited an ASC resort, on food and drink, lodging and whatnot.
I see a lot of dollar signs and financial mumbo-jumbo written about your big sell-off, but nary a mention of the skier, which, mistakenly, I thought you'd consider your most important asset.
So, what will you leave us next year?
Not much it appears.
Thanks.
Perhaps it has come time to make a change in my asset portfolio. A new set of cross-country skis, maybe a set of backcountry skis, too.
And begin to skip the lifts and lines and crowded trails, the expense and the travel.
Yep, I can divest too. And just might.
Investors changed ASC's focus from skiing to slope side development. Now it's all about luxury homes, and condos. Ski areas have become but a tool to attract investors. Just like a stale donut is used to bait a bear. Make the kill - ethics be dammed...
Stock Symbol (AESK.OB)
Posted by blackfly
March 9, 2007 12:09 PM
You're so right that far too many businesses and investors grossly undervalue their customers. The asset is more than just the properties, it's also the customers who pay and come back again. Resorts (incl. ski areas), hotels, airlines all have lots of physical assets that define them, but they all are also service businesses that need to deliver consistent, high quality, and value to their customers or else the customers will choose another option just as you are so rightly proposing.
I have faith though that some new owners are exactly what's needed for a lot of these ski areas and fresh ownership will ultimately be good for the skiers.
Posted by blank
March 9, 2007 12:35 PM
I also have faith that new owners may infact free these resorts to improve their positions. No, there may not be a 6 resort pass for $369 anymore, but from what I've seen, so many of those cheap passes puts a ton of stress on the areas on peak days. I'd rather see people pay more, me included, on Saturdays at the River if it makes the experience better.
Posted by
March 10, 2007 11:37 AM
OK, by all means... YOU can pay more, and please pay for me too. Deal? :-) And I'll let you continue to ski the River on Saturdays, but I don't ever recommend it. Better to stick to Sundays only for that mountain.
Posted by
CareyMarch 11, 2007 03:32 PM
Maybe next year we will have better opportunities for ski deals and have more choices to ski at places I miss like Bretton Woods, Loon, Wild Cat, etc.
Don't give up hope, Carey!
Posted by
KinseyMarch 11, 2007 03:57 PM
Maybe next year there will be better ski deals for places that we have not skied lately because we feel indentured to our pass- I miss places like Loon , Bretton Woods and WildCat.
Posted by
KinseyMarch 11, 2007 04:02 PM
ASC is a business, conducting business.
Sunday River and Sugarloaf are ski areas, that may or may not be under new ownership soon. Sunday River and Sugarloaf will still welcome skiers and riders with good service and good snow come next season. The resorts will still employ thousands of Mainers in the process. Not sure why all the doom, gloom and anger from the author. See him and ya'll on the slopes of Maine!
Alex Kaufman
Communications Manager
Sunday River
Posted by
Alex KaufmanMarch 12, 2007 12:10 PM
Alex,
Doom and gloom? Jeez, look at the headlines over the past few weeks re this deal, with mountains peeling off all over. That's enough to make any passholder question what the heck is going on and what the future holds.
I'm disappointed (not angry) with ASC, not Sunday River or Sugarloaf. The decisions are being made far away in swanky Park City, not quaint Carrabassett Valley or Bethel. Yes, business is business, we get that. But what about us skiers-- loyal skiers mind you--that have supported ASC?
Don't you feel we have good reason to feel left out in the cold as these ASC deals go down? To see a very good thing at a good price--the All for One Pass--evaporate before our eyes?
Yeah, we know that the good folks at River and the Loaf will provide for us with good skiing. But you've gotta consider: How many of us do you believe will want to return to $1000 plus season passes good for one mountain, maybe two?
The skiin' times, they be a-changin...
Posted by
CareyMarch 12, 2007 02:46 PM
Post a comment
Blog Index