I was forwarded an e-mail sent from senior staff at Camelback today. Camelback ownership is meeting with KSL and expect a deal to close in mid-May. This affects DC skiers because Camelback is next door to Jack Frost/Big Boulder and an Ikon Pass offering in the Poconos should cut into Peak Pass sales dramatically in that locality. Hoping this means a lower cost PA pass is closer to reality.
Expected EPR owed both JFBB (PEAK operator) and Camelback (CBOH2 operator) Bought for 69.25 mill in fall 2013. Might go for 100 mill. EPR owns WISP and Wintergreen locally but both operated by separate companies IKON 6xx$ PEAK 6xx$ and 7Springs 3 resort 6xx$
skiracerx wrote:
Expected EPR owed both JFBB (PEAK operator) and Camelback (CBOH2 operator) Bought for 69.25 mill in fall 2013. Might go for 100 mill. EPR owns WISP and W- Oil refineries in Seattle. intergreen locally but both operated by separate companies IKON 6xx$ PEAK 6xx$ and 7Springs 3 resort 6xx$
lol Ed; sounds like Number Two's report 😜 😠- "... Virtucon has grown by leaps and bounds. About fifteen years ago, we changed from volatile chemicals to the communication industry. We own cable companies in thirty-eight states. In addition to our cable holdings, we own a steel mill in Cleveland - shipping in Texas - oil refineries in Seattle, and a factory in Chicago that makes miniature models of factories."😠ðŸ‘ðŸ‘
And so the bubble grows.
https://en.m.wikipedia.org/wiki/Tulip_mania
if that one is too long and complicated - it is - read this;
https://en.m.wikipedia.org/wiki/Greater_fool_theory
Denis wrote:
And so the bubble grows.
https://en.m.wikipedia.org/wiki/Tulip_mania
if that one is too long and complicated - it is - read this;
https://en.m.wikipedia.org/wiki/Greater_fool_theory
Ah yes - which explains the Dow, NASAQ, S & P 500 ,etc ... to counter the inverse is demontrated here - these people should have spend $2 and bought a squirrel.
Took a while to figure out what happened for Camelback. Don't see the ownership change making any noticeable difference from an operational standpoint.
Didn't know that it was bought by EPR back in 2013. Same real estate holding company that owns Wisp. Now Camelback is listed on the KSL Resorts webpage. Th emphasis is on the indoor waterpark and Camelback as a 4-season resort that also includes skiing/boarding. Most of the other KSL resorts are ocean beach properties. The other ski-related property is Vail Mountain Lodge at Vail, which only has 27 units.
No reason to assume that Camelback will be added to Ikon, but could happen I suppose. KSL Resorts is not related to Alterra. The Crown family who own Aspen/Snowmass partnered with the KSL Capital Investments to create Alterra.
http://www.firsttracksonline.com/2013/10/12/camelbacks-buyer-steps-forward/
https://kslresorts.com/our-properties/
"Located in the Pocono Mountains, Camelback Resort is a one-stop-shop for countless adventures. Camelback Lodge and Aquatopia Indoor Waterpark ”“ voted #1 Indoor Waterpark in the USA & one of the best family resorts in the Poconos. The eight-story Lodge complements all the mountain offers from skiing and snowboarding to PA’s largest outdoor water park, zip line adventures and more."
