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On Mon, 9 Apr 2007 11:23:17 -0400, Stewart Kriss <[log in to unmask]>
wrote:

>It's strange but at stratton I overheard a similar conversation between an
>instructor and a skiier.the instructor was saying that he had taken a
>behind the scenes tour of the physical plant and was amazed at how 'run
>down'  it seemed...there was a purchase of intrawest properties by a
>private group called fortress. the implication I got was the purchase was
>made to take advantage of the olympics at whistler/bcomb and that perhaps
>there was a group made up of club members(the private club there?) who may
>try to purchase stratton w/o the realestate(would it go private?).


This doesn't seem to make sense to me. I don't think a hedge fund which is
essentially what Fortress was until they dressed themselves up by going
public would lay out billions just over the olympics. 

I also find it hard to believe that "people in the club" would want to
purchase just the ski area. The model of the last few decades has been to
fund the snowmaking and lifts arms race with real estate money. Areas can
operate at a loss because they are essentially an amenity for condo and home
owners. 

The Stratton club can't even operate without business from outside riff raff
so even the prospect of turning Stratton private would not make a lot of
sense but it has been a consistent rumour for the past 10 years.

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