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Vail buys Kirkwood

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HeathR
Posts: 4357 - Karma: 1,379
Vail has just bought Kirkwood. Kirkwood passes are now good at Heavenly and Northstar, and vice versa. They say they are going to try to keep some of the good stuff about Kirkwood but we will see what happens. If you live in South Lake its a damn good pass deal now.
Feb 22 2012 9:53AM
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caliskigirl
Posts: 393 - Karma: 67
I understand the financial need that Kwood probably had in order to get bought out by a big corp like Vail, but it's still too bad in a way-what people love about Kwood is it's off the main Tahoe scene local mt feel (and the awesome powder days of course). I just really hope that it doesn't become a huge overrun resort and retains some of that appeal.
Feb 23 2012 1:05PM
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Karma_Police
Posts: 2655 - Karma: 1,628
But vail skiers have access to it and thusly I'm sure Vail has some "say" on what goes on and what doesn't.  Do you really think A-basin could afford that new high speed lift without the help of Vail?   
Feb 23 2012 1:21PM
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pbandj
Posts: 5610 - Karma: 28
it's 49% owned by Vail resorts.

Feb 23 2012 9:55PM
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skiEER
Posts: 4089 - Karma: 79
they were forced to do this so they wouldn't have a monopoly in CO resorts

Feb 24 2012 12:04AM
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PON3
Posts: 3817 - Karma: 783
I tried looking for financial statements for Krikwood, and the only stuff I could find I had to pay $$ for. Im doing a project on acquisitions in my corporate finance two class and this is the best example since it just happened. And I was hoping to use financials to asses why Vail Resorts took them over.

I was going to call Kirkwood to see if there was any remote chance I could find these financials for my project. but I doubt it since they are not publicly listed on the NYSE, so they arnt forced to have their financials for public access.
Feb 24 2012 12:26AM
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Rachy
Posts: 4355 - Karma: 2,761
Vail will never own Mammoth.

The town would throw the biggest fit the ski industry has ever witnessed. Mammoth is expensive, but I don't think any of us our complaining. I'll gladly pay $600 for my MVP pass in May to save some cash, but that's just it, I'll gladly pay $600 for 1 resort.

Vail is a well run business. They treat their employees well enough. But they are killing the other resorts around. Forcing them to drop prices which changes how long the resorts stay open, forces other prices up... and so forth. Vail makes it's money through properties and ski shops, not through their resorts. There is a reason all the vail resorts close in April. There is also a reason that all the resorts around vail resorts also close in April. Abasin is pretty much the only resort that has been able to resist this since it's only partially owned.

A lot of CO season passes were upwards of $800 before Vail started buying up everything. CO resorts also used to open and close when the snow was gone rather than set opening and closing dates.

A lot of CA resorts are still able to do this, but as Vail buys out more, this will begin to change. Pass prices will drop and the first thing to go will be summer skiing.
Feb 24 2012 12:33AM
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dmc12380
Posts: 3545 - Karma: 792
financials for this probably wont be released for a while. the IB and vail team doing this acquisition have the only access to them. but anyways, someone above said they got bought out for $18, how many shares did they have outstanding, or was that $18 mill.
Feb 24 2012 1:04AM
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Ryanvdonk
Posts: 12808 - Karma: 1,945
you do know vail's #1 revenue producer is the ticket office right? that includes both lift ticket and pass sales. not SSV or their other retail ventures. so many people buy passes now it's crazy, people who only ski presidents day weekend have them, and the cheap cost gets more people buying them and coming to the moutnains, spending money on lunch and such. and don't act like corporate companies are the only ones that close early, up in washington they all do, all with deeper snow bases than 99% of the country has at any point of the year, and only crystal and snocrummy are corporately owned (the two most likely to keep open). ski resorts close because the number of visitors does not yield a profit anymore, and that goes for all resorts. abasin is able to stay viable early and late because and only because they are the only mountain in colorado on that pass open, making people who went to 5 resorts go to one.
Feb 24 2012 2:29AM
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PON3
Posts: 3817 - Karma: 783
I dont know how many shares outstanding they had. but I know it did helop out the price of the share a little. I think it went up 13-15 cents. But I wouldnt quote me on that, just me skimming through yahoo finance which isnt that credible to begin with.
Feb 24 2012 10:39AM
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HeathR
Posts: 4357 - Karma: 1,379
I heard it was 18 mil which is a fucking steal. They spent more on capital improvements at N* this year.

Feb 24 2012 2:21PM
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Dr.Dickless
Posts: 2620 - Karma: 1,392
seems legit
Feb 24 2012 3:09PM
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mcweapon
Posts: 175 - Karma: 247
right right.. i am sure things would get split up... who knows... i just know a lot has been flying around about the olympics lately which makes me look at their long term plan... of course they just want to dominate

like so many other said in this thread... just so sad to see kwood get bought out.. it was such a local resort... but also ....if they were under a bad financial strain i would rather see them open then close down...

and vail does give jobs and brings lots of tourists in, which does create jobs in town too.. so i know there is some good there too....

buuuuuut... they really need to think about giving something back. back to the people that live in town. the people that run their resorts. that run their lifts, their ski schools, their restaurants. i have friends who have worked there for years and they still can only get 1/2 price tickets. there is no advantage for locals. no special prices. or specials lift lines (like Sierra - vertical plus.. not to say they were only for locals).

i guess if i saw vail was really trying to give back to the community that runs their power house of revenue i would feel like the deserve to acquire a mountain like kwood. kwood (in my opinion ) has always been about the sport of skiing... so now that they are being handed over to a company that is in it for the money it is hard to see happen.
Feb 24 2012 8:39PM
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Queen_Selassie
Posts: 1430 - Karma: 1,363
correct...and bear!
Feb 24 2012 10:21PM
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Ryanvdonk
Posts: 12808 - Karma: 1,945
well if they're employees they'll now get all the benefits of being a vail employee, so half priced food at all the resorts, free pass (epic with some restrictions), discounts at all SSV shops, discounts on lodging...
Feb 25 2012 12:07AM
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Janky
Posts: 1323 - Karma: -100
ima bump this because I have a question. Can I go to Kirkwood and ski with a 5 day pass i got from Heavenly, or does that just work for the season pass?
Mar 5 2012 3:09PM
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HeathR
Posts: 4357 - Karma: 1,379
I would just call and ask.
Mar 6 2012 5:38PM
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burntahoegreen
Posts: 191 - Karma: 24
I think its good for the economy in south shore. hopefully it will bring more tourists up. Not many locals ski at kirkwood anyway. I hate heavenly, but i think kirkwood needs some renovation and Vails got a ton of $$$. All the locals still hold it down at Sierra anyway and as long as they dont get bought by Vail, I'm happy. Sierra snows, Heavenly blows. Kirkwoods got the pow tho
Mar 6 2012 10:01PM
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skiEER
Posts: 4089 - Karma: 79

they didnt raise there pass prices

2012-13 pass offerings:

 

  • The Epic Pass™, the best season pass deal in the ski industry offering unlimited, unrestricted skiing at Vail, Beaver Creek, Breckenridge, Keystone, Heavenly, Northstar, Kirkwood and Arapahoe Basin is available for $659. It pays for itself in less than six days.
  • Epic 7-Day™ pays for itself in less than five days and is ideal for people who don’t plan to ski more than seven days. The Epic 7-Day gives skiers and snowboarders a total of seven unrestricted days of skiing at Vail, Beaver Creek, Breckenridge, Keystone, Heavenly and Northstar, plus Arapahoe Basin anytime during the season for a price of $509.
  • The Epic Local Pass™, for $509, pays for itself in less than five days and is perfect for locals who can navigate a few more restrictions. The Epic Local Pass offers unlimited and unrestricted skiing or riding at Breckenridge, Keystone and Arapahoe Basin with limited holiday restrictions at Heavenly and Northstar. It also includes a total of 10 days at Vail or Beaver Creek with holiday restrictions. $50 pass holder tickets are also available for purchase during blackout dates at Heavenly, Northstar and Kirkwood.
  • Summit Value Pass™ pays for itself in less than four days and is a great option for people who only plan to ski Summit County. The Summit Value Pass is available for $419 and provides unlimited and unrestricted lift access to Keystone and Arapahoe Basin, as well as access to Breckenridge with limited holiday restrictions. Pass holders can purchase access to Breckenridge on restricted days for $50 per day.
  • New for 2012-2013, the Tahoe Local Pass™ offers skiing and riding seven days a week to Heavenly, Northstar and Kirkwood resorts. It includes access on Saturdays at all three resorts with limited holidays restrictions. $50 pass holder tickets are also available for purchase during blackout dates at Heavenly, Northstar and Kirkwood all for $419. The Tahoe Local Pass pays for itself in just over four days.
  • Tahoe Value Pass™, available for $379, pays for itself in less than four days and is ideal for people who plan to ski or ride seven days a week at Heavenly and six days a week at Northstar and Kirkwood. The Tahoe Value Pass has holiday restrictions to Heavenly, Northstar and Kirkwood with Saturdays excluded at Northstar and Kirkwood. Pass holders can purchase access to Heavenly, Northstar and Kirkwood Resorts on restricted days for $50 per day.
Mar 12 2012 5:41PM
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ghosfacekilla
Posts: 533 - Karma: 72
Monopolizing skiing one resort at a time. Look past the value of the pass and understand that these folk basically control the pass prices of most of the Colorado ski industry. Thank god they dont completely own abay so that it isnt some glamed up mountain with shop and non skiing bullshit
Mar 12 2012 6:41PM
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BigBadWolf
Posts: 2000 - Karma: 432
i loled so hard
Mar 12 2012 10:55PM
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GreenStezz
Posts: 3570 - Karma: 720
Been good so far!!..........................
Aug 24 2013 1:13PM
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