Wildcat for Sale

[Angus]

In today's Wall Street Journal, there is a small item in the classified section for Wildcat Mountain - I don't have time now - I'll post the full text if a link can't be found - but it references an existing lease of 800 plus acres with the Forestry Dept. and notes limited expansion/development opportunities. The contact is a leading national real estate brokerage compaies Boston office.

 

[awf170]

what burke and now wildcat :angry:

 

[NHpowderhound]

Hmmm, I have mixed feelings on this. I fear what I dont know but change can be good. I'll have to mull on this for a bit.
((*
*))NHPH

 

[riverc0il]

i'd love to see the article regarding this sale. i would be very happy to see this confirmed, no mixed feelings here. wildcat is on WMNF land and regardless of the sale, no condos and slopeside could be built regardless of ownership (to the best of my knowledge at least?). i am not fond of the current direction of the mountain. from high ticket prices compared to comprable mountains to the most misleading snow and trail reporting i've seen in new england to the lame resort styled scanning of lift tickets, i have taken issue with what was previously my favorite ski area time and time again. i am looking forward to more details.

 

[Angus]

On Page B8 of today's (6/14/05) WSJ in the classified section

Wildcat Mountain

Ski Area - New Hampshire FOR SALE

Long-term leasehold interest offered on 800 acres of National Forestry Service land. Some expansion/development potential. Pristine vistas of Presidential Mountain range and Mount Washington.

visit http://www.cbre.com/wildcat

well, maybe i'll edit the link but you all can copy and paste until I figure it out!

 

[salida]

i agree with steve, the prices cant go up anymore or they'll go out of business, they cant do any more gentrification either... good news i think

 

[awf170]

i admit the lift ticket is expensive but they have the wildcard 3 days for 110 for you mathmatically challenged that is about $37 a day then you can ski the next day for $25.
This year me and my dad skied at wildcat 7 days for a total of about $500, i think thats cheap... that is $35 per person a day average... not wicked cheap but no that bad either, for being all weekends i think it is cheap

 

[riverc0il]

corrected LINK from the post above.

according to THIS PDF file detailing the ski area, the current lease has only been through two years with 38 years remaining. i wonder why the current lease holders want out despite just signing on for a 40 year lease two years ago?

development opportunities include a hostel (WOO! though the hiker's dice is just down the street in gorham - i won't include the AMC facility accross the street as a hostel :roll: ), additional gladed terrain, and possible camping and RV options. given dolly copp is right up the road, that seems like a silly proposition too.

it claims the "longest and purest" season in the northeast, but killington, bretton woods, sunday river, and sugarloaf beat wildcat out for longest season. i guess "purest" is an opinionated title though. *shrug*

this firm also did the dead for saddleback in maine and haystack in vermont. interesting.

one big glaring lie is that wildcat offers the most continuous vertical in the white mountains at 2112 vert feet. however, cannon's web site puts in at 2146 verts... and that's just what's on the map

guess i am nit picking here, but if you're selling a ski area like wildcat for as much as they are charging, they best get their facts straight!

 

[awf170]

corrected LINK from the post above.

according to THIS PDF file detailing the ski area, the current lease has only been through two years with 38 years remaining. i wonder why the current lease holders want out despite just signing on for a 40 year lease two years ago?

development opportunities include a hostel (WOO! though the hiker's dice is just down the street in gorham - i won't include the AMC facility accross the street as a hostel :roll: ), additional gladed terrain, and possible camping and RV options. given dolly copp is right up the road, that seems like a silly proposition too.

it claims the "longest and purest" season in the northeast, but killington, bretton woods, sunday river, and sugarloaf beat wildcat out for longest season. i guess "purest" is an opinionated title though. *shrug*

this firm also did the dead for saddleback in maine and haystack in vermont. interesting.

one big glaring lie is that wildcat offers the most continuous vertical in the white mountains at 2112 vert feet. however, cannon's web site puts in at 2146 verts... and that's just what's on the map

guess i am nit picking here, but if you're selling a ski area like wildcat for as much as they are charging, they best get their facts straight!

this does sound good... finally a good ski area sale around... imagine one huge glade in between polecat and lynx... it would be incredible

wildcat does have the longest truely continious, pretty much every run you go top to bottom that is what i love about it

all i ask is dont touch the creeks

oh ya they also better keep the student pass at 149

 

[ctenidae]

Interesting- according to the NH Sec State (www.sos.nh.gov/imaging/9234532.pdf), Wildcat is currently owned by Pasquale Franchi, a developer based in Natick, MA, who has been hit with more than one environmental violation. Looks like he's got three registered businesses in MA- Franchi Construction, Franchi Family LLC (probably the trust that holds Wildcat), and Franchi Management Co. State filings don't give a whole lot of information, but apparently they're pretty good at getting their filings in on time, and tend to pay with a credit card.
I don't see anything in the news about Franchi having any cash difficulties. They incorporated Wildcat Ski Area in 1991, consistant with the CBRE's claim of 2 years down on a 40 year lease. The previous owner (it looks like) was Wildcat Mountain Corp, incorporated in 1955, and dissolved in 1988. What happened between '88 and '91 is not clear.

disclaimer- all information here is publicly available from the New Hampshire and Massachusetts Sec States.

 

[NHpowderhound]

Perhaps we should all pitch in and make it an AlpineZone.com co-op!
Let's all hope Intrawest,Booth Creek or ASC doesnt get a hold of the Cat!
((*
*))NHPH

 

[kickstand]

I bet with all the Forest Service restrictions surrounding Wildcat, it is a very unattractive investment for any of the mega-resorts. I know the upper part of Attitash is on leased land and there are certain hoops they must jump thru to get things done. Can't imagine what it would be like if the entire resort were on leased land.

also, I think part of the charm of Wildcat is that there is no lodging at the mountain. I don't think I would enjoy it as much if there were properties there.

and I agree - don't touch the Brook!

 

[thetrailboss]

I bet with all the Forest Service restrictions surrounding Wildcat, it is a very unattractive investment for any of the mega-resorts. I know the upper part of Attitash is on leased land and there are certain hoops they must jump thru to get things done. Can't imagine what it would be like if the entire resort were on leased land.

also, I think part of the charm of Wildcat is that there is no lodging at the mountain. I don't think I would enjoy it as much if there were properties there.

and I agree - don't touch the Brook!

Yes, just the skiing part must be expensive and not much in return. Probably explains why they are having problems with snowreporting...management not paid enough and is probably not the best. It's too bad...probably a great place to ski but skiing doesn't make money anymore I guess :roll:

 

[loafer89]

Maybe that explains why the conditions and customer service were so poor when I visited in March. I vowed NEVER to return, but I will give them another chance with new owners.

 

[awf170]

Maybe that explains why the conditions and customer service were so poor when I visited in March. I vowed NEVER to return, but I will give them another chance with new owners.

\

i cant believe you found such bad cumstomer service, i never had a problem.
with the skiing ya, i can kinda understand, but i have been there about 25+ days and never had a bad one(except when it was freezing rain). I can understand the conditions being very bad for a small child so i kinda get where ur coming from

 

[loafer89]

The one thing that annoyed me when we visited was that they had four people to sell you lift tickets, but they had a maze with only one enterance to it :blink:

 

[awf170]

The one thing that annoyed me when we visited was that they had four people to sell you lift tickets, but they had a maze with only one enterance to it :blink:

guess i dont deal with that with a season pass :wink:

 

[NHpowderhound]

Kickstand wrote

I bet with all the Forest Service restrictions surrounding Wildcat, it is a very unattractive investment for any of the mega-resorts. I know the upper part of Attitash is on leased land and there are certain hoops they must jump thru to get things done. Can't imagine what it would be like if the entire resort were on leased land.

also, I think part of the charm of Wildcat is that there is no lodging at the mountain. I don't think I would enjoy it as much if there were properties there.

and I agree - don't touch the Brook!

I think Kickstand and I have shared similar opinions back on the old RSN board years past regarding this topic.
No doubt investors will see the lack of a village or on mountain sleeping facilities as huge challenge. That said, no village, condos or golf course means no big loan to pay a bank each month or a huge payroll. I think wildcat can be operated with minimal expenses and stay focused on the product its known for, pure skiing and riding,classic feel, lots of charachter in the trails, and no distractions from the skiing yet still profit.
T Brook will stay as is IMO. I'm not sure that is even part of thier lease with the Forest Service.
((*
*))NHPH

 

[awf170]

Kickstand wrote

I bet with all the Forest Service restrictions surrounding Wildcat, it is a very unattractive investment for any of the mega-resorts. I know the upper part of Attitash is on leased land and there are certain hoops they must jump thru to get things done. Can't imagine what it would be like if the entire resort were on leased land.

also, I think part of the charm of Wildcat is that there is no lodging at the mountain. I don't think I would enjoy it as much if there were properties there.

and I agree - don't touch the Brook!

I think Kickstand and I have shared similar opinions back on the old RSN board years past regarding this topic.
No doubt investors will see the lack of a village or on mountain sleeping facilities as huge challenge. That said, no village, condos or golf course means no big loan to pay a bank each month or a huge payroll. I think wildcat can be operated with minimal expenses and stay focused on the product its known for, pure skiing and riding,classic feel, lots of charachter in the trails, and no distractions from the skiing yet still profit.
T Brook will stay as is IMO. I'm not sure that is even part of thier lease with the Forest Service.
((*
*))NHPH

im more scared about them touching the other brook(which is within ski area boundries) because i like it more then T brook, and might seem like a good area for a glade.

 

[NHpowderhound]

awf wrote

im more scared about them touching the other brook(which is within ski area boundries) because i like it more then T brook, and might seem like a good area for a glade.

I'm guessing you're speaking of the shot off the Bobcat Triple that has the little waterfall jump and rock squeeze. I've been banging my brain trying to remember the name of that but i've come up short. It's become a pretty well traveled "stash" as of late.
((*
*))NHPH