Community efforts to buy largest ski resort in Oregon up for sale

[@PTMG]

the enthusiasm is great here, but honestly good luck out bidding vail

[@blameitonben]

The problem locals in Bend have with Bachelor is its too expensive and too crowded. Not sure how they can plan to fix both of those at the same time. Leave Ikon? Also the lifts are old... lots of deferred maintanance.

[@seerskin-5034]

bro it’s not that crowded. go sky at mammoth or any other mountain outside of oregon and tell me it’s still crowded

[@weridebikes1000]

Not that crowded, most days there’s zero lines. Everything is expensive these days, and Bachelor has no real estate/condos to get revenue from… concessions and tickets only. NW Express and Outback chairs could use work, but the rest of the chairs work well and 2 of them were installed in the past few years.

[@goodpools]

Audio is quiet

[@Dantanalicious]

Case study is already there. It’s called Mt Ashland…

[@scottduke2809]

Wishing the best for you! I love your communities and that ski resort! ❤

[@Dr.MatthewOwen]

Brilliant idea! Not easy to accomplish, but brilliant nevertheless. Wishing Bend folks all the best on their business venture!

[@primeapegaming4277]

We not talking about the person taking a stumble at the beginning

[@BlckJack123]

I suspect the mountain is nowhere near as profitable as they think it is. If it was that profitable why would it's current owners let it go for $75M?

[@ryanstewart1521]

Big local investors, this shouldn’t be a problem. There’s a lot of money flowing around Bend area.

[@oogabooga4047]

love it but hope woodward doesnt leave! keep the parks great

[@Consultant22]

No way they are getting this for $75M if annual net income is $15M-$20M. That implies that EBITDA is likely much higher. Even if the $15M-$20M is EBITDA, then the $75M is only a 3.75x-5x multiple. Someone is likely going to pay multiple turns more than that for one of the largest resorts in North America.

[@Dantanalicious]

Just make it simple for people, what annualized net return on investment or yield do you think a buyer would want?

[@Consultant22]

@@Dantanalicious Probably a 20% IRR

[@ScottieRacer]

135-155 million is my estimate on sale price- 7-8x EBTIDA

[@brentdavidson1]

Do you factor in undercapitalization with deferred lift replacements?

[@ScottieRacer]

@ great comment- and fair question- Yes, I would be accounting for 20-30mm in deferred maintenance. I can sure hope this local community can get a bid accepted at a lower rate which would be awesome for central oregon! LFG

[@rickwalker7900]

Killington did it!

[@_Jake.From.Statefarm_]

What's that mean for the bike park?

[@kefeng6805]

Supply is naturally limited, while demand keeps growing. You don’t need an economics degree to see where prices are headed.

[@Weathernerd27]

This is why we should build another ski resort, Oregon has plenty of mountains but I don't think we have built a single ski resort in the last 30 years.

[@SteveThompson-li2fc]

@@Weathernerd27 Agreed, but would today’s environmental lobby / activists ever let something like that happen? You would have to pay a lot of groups off just to break ground. I would love to see it happen though. The sports of skiing and snowboarding have boomed in popularity over the last 20 years in spite of the global-warming doom&gloom.

[@joeyamamoto8339]

@@Weathernerd27 efforts have been made. Sierra Club will never allow it

[@timalete]

There is substantial local Bend community interest and involvement in the purchase of Mt. Bachelor by a B Corp entity composed of Venture Capital investors contracting with Pwdr to buy Mt. Bachelor. The accessibility of acquisition contracts to the public depends on several factors, including the nature of the entities involved, the specifics of the transaction, and applicable laws and regulations. When Private Equity Venture Capital Investors form a B Corporation (a for-profit entity with a social mission) to acquire another for-profit business, the transaction typically remains private. Unless there is a compelling reason-such as regulatory requirements, involvement of public funds, or performance of a public function-the acquisition contracts are generally not open to public access. However, specific circumstances and local laws can influence this general rule. It's advisable to consult legal counsel to understand the disclosure obligations pertinent to a particular transaction. I suggest there is compelling reason for City of Bend and its residents have public access to any Private Equity Investors contract with Pwdr. To be fully informed of Purchase Contract Terms and Conditions including any and all provisions for private equity investors to offer public investment shares or other benefits to anyone. Terms and Conditions related to Return on Investment distribution to the private investors should be known as public by City of Bend, and its citizens as well as beneficiaries outside of Bend. If compelling reason for public disclosure of the Purchase Contract does not exist at the time of purchase then it should be established in advance by City of Bend on behalf of its citizens.

[@avandurion]

"community owned", "IPO", "accredited investors".

[@URKlewless]

Everybody is for it…until they see the cost

[@lawrencecole6527]

Go get em tiger!

[@Beaverfoam]

Keep vail off mt bachelor,

[@schaeferbd10]

B-corp is the wrong way. Just taking it away from one corporate owner group and creating a new one where initial investors are paid. 501c3 would the the proper community owned "Anti establishment" model.

[@brentdavidson1]

Not entirely true, b corp does shield you a bit from shareholder lawsuits alleging you are actively avoiding higher ROI activities/investments/etc. but I’m not sure skiing counts as a protected effort of a b corp vs say patagonias environmental efforts

[@OfficerMcNastty]

Please do not let vail buy this resort! THEY WILL RUIN IT ALL

[@orionashdown4828]

They should give it to the community

[@Weathernerd27]

Crystal is unusable only people with season passes are allowed to ski there and the crystal season pass costs double what most other season passes cost. Even if you have their expensive season pass parking is a nightmare and you have to make reservations ahead of time before you even know what the weather will be which is a big problem because the northwest gets alot of terrible weather. I have lived in Seattle since 2014 yet I have never been able to ski Crystal. As bad as Mt Bachelor ticket prices are they are still alot better than alot of these big company owned ski areas.

[@Nic_No_K]

Vail will buy it. Vail will make it worse….

[@heatherkaye8653]

Bachelor was almost way too crowded in the late 90s. Long lift lines and lots of wind shutting down lifts lots of lifts are pretty sketch too.I hope the community can buy it, but it's gonna be crazy expensive to update things. It'd be terrible for foreign investors to snatch it up. None of Hoods resorts are thankfully.

[@pbourdon231]

If they can pull this off it would be amazing! Screw corpo skiing and riding!

[@johndeaton7968]

That build back better program did everybody in😂 And if they would've just incorporated with the other mountains with ski passes they probably would've done better.

[@Weathernerd27]

​@SteveThompson-li2fc this is why i stopped supporting alot of enviormental groups they go too far. Oregon has hundreds of miles of forest another ski resort or two is not going to destroy the enviorment. There was another famous case where a California town was having a water crisis and the stupid enviormentalists would not let them build a small resivor in a ugly part of the central valley without much life.

[@valenaizik2753]

As a snowboarder it would probably help with funding if you didn’t explicitly say ski so much all while not mentioning snowboarders at all.

[@keim3548]

Just admit defeat. The recreation activity in general will continued to be called skiing, no matter your equipment. It has a centuries-old head start.

[@well_letters]

get over it, what a stupid thing to get hung up on.

[@skysteppes]

A snowboard is just a giant mono ski you stand sideways on.

[@piknick111]

Saying that Central oregon is local is a laugh. All the locals LEFT!

[@weridebikes1000]

So by that logic they are no longer local- THEY LEFT. 😂