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

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.
 
13501988:Barmski said:
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.
Click to expand...

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.
 
You must log in or register to reply here.
Back
Top