EMSC wrote:There are many ways that staff can be temporarily re-purposed or as others leave on their own accord retraining occurs or etc...
We know that Mammoth does that. Seasonal staff is always done 3rd or 4th week in April when Canyon/Eagle and most of the lifts (though in good years only 40% of terrain) is closed. Yet on busy spring weekends management (occasionally including Rusty) will staff the additional lifts needed to handle the crowds, something certain other areas seem unwilling to do.
EMSC wrote:Let's not kid ourselves, the only financial worry likely at Starwood is hitting budgeted profitability targets that have been massaged slightly for Wall Street. MMSA is only a small part of Starwood.
Yes, that's why I put a good share of blame with Starwood. They are willing to let this small part default on a loan when revenue is slashed by variable weather? When they bought Mammoth they could have seen the same historical snow/skier visit data from 1985-86 to 1986-87 that I saw for example and known full well that it would likely happen again on their watch.
EMSC wrote:I haven't heard of any yet, but even Vail Inc which has a history of being ruthless in personnel moves hasn't had mass layoffs yet in this horrible season.
Vail actually bragged that as of December 31 they had seen no revenue decline vs. the prior outstanding season as of that point. Presumably that changed to some degree as the season wore on. But Vail has all these destination visitors like johnnash who bought passes and booked their trips way in advance of the season. Only with very forceful argument did I convince him to relocate one and slightly modify the other two planned trips to VR ski resorts this season. Most of these advance bookers probably stuck with their plans in their entirety despite the horrid conditions for most of the season.
Mammoth's clientele was 95% SoCal drive-up when Intrawest came in in 1998 and it's still close to 90%. Drive-up skiers can be more flexible about where they go. Last year I had 25 days at Mammoth and this year the count will probably be 7. Smart investors should know what they are buying, and the evidence in Mammoth's case was quite plain to see IMHO.