In Mammoth, the one thing I watch is the Ski Area, the economic driver of the community. The Town (government) can bumble and fumble down the road and have all of its calamities and bad press, but as long as it keeps the roads plowed (which they are stellar at) and keep the barbarians from running amok, then everything seems to pretty much even out.
But the Ski Area is something quite different. I often laugh at people, who don’t ski or ride the Mountain and think they are in touch with what’s going on in town. They’re not. A perspective going back at least a few decades helps to the As part of my job, I consume as much information about real estate as my brain can process. Obviously, some of the information is about economics and general trends in the market, or what is happening in the state or nationally that will impact the market. And I certainly don’t rely on the National Association of Realtors to guide my thought process.
We all know the MVP keeps increasing in price, but the demand appears fairly consistent. Across the board, these season pass programs look like the life-blood of ski resorts today. Are the increased revenues coming from MVPs just spending more on beer, demos and lessons? I have a hunch that one of the values of re-opening the MVP program to new members is that the newer MVPers are the ones spending the most highly profitable discretionary dollars on the Mountain.
Many people forget that the Ski Area is also a large “front desk” hotel operator/property manager in Mammoth. They can thank the Intrawest model for that. The rental numbers generated out of the Village and Juniper (Eagle) condo hotel units and the Mammoth Mountain Inn have to be impressive. It has taken awhile, but it sure seems they are getting it figured out, and I’m in the condo hotel properties all the time on business.
But is this where all these increased revenues are coming from? Is it more of the discretionary dollars being spent by real tourists who come on packaged deals? Or maybe the Black Pass holders really are big spenders? Or maybe it is the table service at Hyde Lounge generating this extra revenue
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