News Roundup: Canadian Retirements

Town of Nederland, Colorado to Buy Eldora

The Colorado town located closest to unincorporated Eldora Mountain Resort plans to purchase the mountain from Powdr Corporation by October. A signed term sheet comes after months of negotiation and work behind the scenes between Powdr and the Town of Nederland. Powdr will continue to operate the mountain for two years until a “coalition of Front-Range ski industry veterans” takes over. The town plans to quickly add summer activities, a first for the 63 year old mountain. “Nederland aims to turn Eldora into a year-round, community-driven asset– expanding recreation, sparking local jobs and outdoor industries, and weaving sustainability and social equity (i.e. workforce housing) into every run, trail, and event,” said an announcement from Nederland’s Board of Trustees. “These economic development opportunities will give the Town a long-needed, sustainable way to fund infrastructure.” Eldora will remain partnered with the Alterra-owned Ikon Pass as it has been since Ikon’s inception in 2018.

Eldora is one of five mountains Powdr placed on the market last summer. Killington and Pico in Vermont sold to a local ownership group while Mt. Bachelor, Oregon was eventually pulled off the market in April. SilverStar, British Columbia remains for sale. Powdr always planned to retain Boreal and Soda Springs in California; Woodward Park City and Snowbird in Utah as well as Copper Mountain, Colorado.

Once the Eldora acquisition is complete, Nederland plans to annex the ski area, which operates partially on private land and mostly in the Roosevelt National Forest. Annexation could add $1-2 million in annual tax revenue to the town’s general fund. Eldora’s 700 staff will eventually become municipal employees, offering new benefits to them. “To the Powdr team: Thank you for stewarding the mountain thus far,” wrote the town trustees. “We take our responsibility seriously and we are forever thankful for your belief in us to continue your legacy.”

The town plans to issue municipal revenue bonds backed by the resort’s earnings, not tax revenue for the purchase. The total sale price remains confidential. The mountain is profitable though and projections show the town could build a $10 million reserve in the first few years of ownership. “The Town will also be exploring opportunities for grants and private-sector dollars to help lower the total debt,” an FAQ noted. The sale is expected to close by the beginning of October if everything goes smoothly.

News Roundup: SLI Retirements

News Roundup: Contingency Plan

News Roundup: Deer Valley Green

News Roundup: Pleasant

News Roundup: Interviews

  • The 117 year old Poconos hotel which just announced plans to build a chairlift burned down last Friday.
  • Yellowstone Club adds Silver Tip, its 18th major lift, giving YC the 13th highest lift count in the nation!
  • More awesome podcasts: Jeremy Davis of the New England Lost Ski Areas Project, Rob Katz on snowmaking across Vail Resorts, Geoff Hathaway on rebuilding Magic Mountain and the staff of Eldora on what it takes to open weeks ahead of normal.
  • Two new quads and a lift shortening are all now reflected on the Stevens Pass trail map.
  • Vandals slash upholstered seats on an Austrian gondola, cause $28,000 in damage.
  • Okemo receives a 24 month extension to its permit for building a beginner fixed grip quad at Jackson Gore.
  • Loveland gains approval to replace Lift 6 with either a fixed grip triple or detachable quad in 2021.
  • New Hampshire Governor Chris Sununu tours the gorgeous new summit lodge and gondola at Bretton Woods.
  • Alterra CEO Rusty Gregory joins Bloomberg TV and Yahoo Finance to chat about opportunities he sees in the ski business.
  • The head of MND Group says financial struggles are history as the company ramps up to deliver $200 million worth of orders for lifts, Gazex and snowmaking.
  • The Forest Service plans to approve two new fixed grip quad lifts at Lee Canyon.
  • Big Sky looks for 30 more chairs for Six Shooter.
  • A Wyoming ranch with snow cat skiing considers adding lift service.
  • Chris Diamond’s new book, Ski Inc. 2020, was released last week and is a must read for those who follow North American skiing.
  • Simon Fraser University includes a 3S gondola as a core component of its new campus master plan.

News Roundup: 3S

News Roundup: A Long Time Coming

News Roundup: Four Too Many