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Saddleback Maine just announced that it won't reopen if it doesn't receive $3 Million in financing

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JohnLocke
Posts: 337 - Karma: 1,057
Saddleback Maine just announced that it won't reopen if it doesn't receive $3 Million in financing!! I'm sure most NSers don't know this mountain, but it is one of the most beautiful mountains on the East Coast. You never have to wait in line for anything, you always have the mountain to yourself. This past winter I had fresh tracks for an entire day pretty much every time I went. The lodge is great, the is terrain challenging and interesting, and the vibe is amazing. Just trying to preserve the memory in case it closes.



EDIT: OP please us a relevant title in the future. - Mods

**This thread was edited on Jul 20th 2015 at 5:20:11pm
Jul 20 2015 12:29PM
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coldcuts69
Posts: 3718 - Karma: 1,890
maxstrStill waiting on some news.. Planning are vacations now.


Its not lookin good my friend.
Sep 19 2015 6:47PM
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yeahno
Posts: 4008 - Karma: 3,414
Fuckin way she goes. Too far from Portland.
Sep 19 2015 7:04PM
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Barmski
Posts: 4342 - Karma: 811
Welcome to the harsh world of financing big operations. lets be honest, ski resorts and golf courses usually just depreciate cash flow. golf courses are usually worse and they closing all over the place.
Sep 20 2015 5:18PM
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KravtZ
Posts: 6637 - Karma: 2,629
BarmskiWelcome to the harsh world of financing big operations. lets be honest, ski resorts and golf courses usually just depreciate cash flow. golf courses are usually worse and they closing all over the place.


Iv worked on some major acquisitions for hospitality industry...most dont make that much money. Its a very very cap ex heavy industry and requires a lot of spending to stay afloat. $3M may be operating costs for 6 months, etc for the mountain...but ultimately the demand clearly isn't there to keep it running.

Guarantee it would be shut down again even if they received it. They can't compete with big resorts and that is ultimately the problem. In NYC people don't travel to saddelback...maybe Sunday River instead.

From a bank POV...this financing would be a horrible business move. If I was in charge, as much as I love skiing I wouldnt let this deal go through.
Sep 22 2015 12:36PM
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