Annual US Ski Resort Investments Down

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Annual US Ski Resort Investments Down

Postby EMSC » Mon Sep 24, 2012 2:15 pm

Somewhat interesting Article in the Denver Post yesterday. Given Canada's great western snow is investment there up substantially? The article is a bit lacking in detail, but interesting big picture conceptual overview. Where is an MRA comment on this when you need one :-P

"Ski areas' investments for 2012-13 down after rough season"
http://www.denverpost.com/business/ci_21605474/ski-areas-investments-2012-13-down-after-rough
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Re: Annual US Ski Resort Investments Down

Postby Tony Crocker » Tue Sep 25, 2012 10:10 am

The little graph in that story is no surprise:
ski area_investment_200.jpg
ski area_investment_200.jpg (39.77 KiB) Viewed 1896 times


MRA is presumably applauding the dramatic shrinkage in real estate as a proportion of ski area investment since the bubble years. No surprise at that peak in 2006-07. Investment in other infrastructure is down only a little and similar to some past years.
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Re: Annual US Ski Resort Investments Down

Postby Mike Bernstein » Thu Oct 11, 2012 7:11 pm

Tony Crocker wrote:The little graph in that story is no surprise:
ski area_investment_200.jpg


MRA is presumably applauding the dramatic shrinkage in real estate as a proportion of ski area investment since the bubble years. No surprise at that peak in 2006-07. Investment in other infrastructure is down only a little and similar to some past years.

I find that chart prety fascinating. As Tony pointed out, it indicates that ski area investment is really a two track phenomenon. There's a base level of spending that goes into mtn infrastructure and which seems to be pretty much steady state. Sure you'll have unusual down years like this year, but it's relatively stable and driven by the need to replace or upgrade operating assets. The other type is real estate investment and that seems to swing much more violently in tune with the debt markets and ease of access to credit.
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