Quote:
Originally Posted by John Mercier
So we punish the GAC and management team for what others did in the past?
WOW.
|
I don't think anyone is suggesting the GAC and management team be punished for actions for which they were not responsible. The past is relevant to the delegation, in that they a fiduciary responsibility to ensure protect taxpayers by ensuring these problems don't recur.
Quote:
Originally Posted by John Mercier
No private entity with any financial backing is going to support an out of the way ski area that has no room for expansion in the food and accommodations area.
|
Wachusett is one of the most successful ski areas in the country and its operator has virtually no ability to expand. The operator bid on the New Hampshire areas (Cannon/Sunapee) knowing they'd have to focus on existing operations.
Quote:
Originally Posted by Descant
JeffK makes some good points. You may be right on different scales, BUT in NH there are examples of government run businesses that are successful. Obvious to most is the state liquor outlets. Another is the state park system which is self supporting.
|
The NH state park system is self-supporting in name only. It is heavily subsidized from the general fund on a capital basis and also has significant deferred maintenance.
Quote:
Originally Posted by Descant
If I remember correctly, when Mueller, et al, started leasing Sunapee, it was pretty shabby and the renewable 10 year leases allowed them to invest in fixed assets that led to more skiers and other improved revenues. Nobody wanted to lease Cannon, but the money from Sunapee that went to Cannon improvements led to increased skier visits and revenues there too.
|
Both ski areas had numerous qualified bids. The Cannon lease was supposed to be awarded at the same time as the Sunapee lease, but an unknown party was able to get the state to pull it at the last minute.
Sunapee was a 20-year lease with two 10-year automatic renewals. Without the millions in Sunapee revenue (and millions in general fund dollars), Cannon would have been in jeopardy.
Quote:
Originally Posted by Cobaltdeadhead
Sunapee under Vail is the perfect example of exactly what we don't want to happen to Gunstock. I'm sure it makes a lot of money, but Vail runs that place like garbage. Very slow and timid on snowmaking, horrible F&B operations, uncomfortably crowded and considerably more expensive than Gunstock.
|
Vail was a dumpster fire in New Hampshire last year. That said, Gunstock was no bargain at $96/day.
Quote:
Originally Posted by jeffk
As to an audit, the Country is receiving $7+ M?
|
No, the county receives about $300K from Gunstock from the most recent fiscal year.
I believe the $7M figure is what's in the bank, which I suspect is a lot of "restricted" cash (e.g. 2022-23 season pass revenue). A much better situation than a few years ago, when Gunstock couldn't get through the off-season without a county-backed bridge loan.