Snowboarding Forum - Snowboard Enthusiast Forums banner

1 - 20 of 21 Posts

·
Registered
Joined
·
736 Posts
OMG!! Hopefully I get to see it before I am too old to snowboard. Year round resort is like Christmas everyday of the year!
 

·
Registered
Joined
·
1,129 Posts
hmmm, 55km past Invermere isn't to far but its not to close either (calgary), seems like a small population base like was mentioned earlier.
 

·
Premium Member
Joined
·
4,499 Posts
another place to take the alberta dollars away from revy!

rcr buys out both revy and jumbo, moves to gondola to jumbo for a couple years then pulls the plug completely


might as well push through the Cheam pipe dream while we're at it, yeah lets have a north facing resort with south facing slopes people will eat that shit up


what a load of fuck
 

·
Registered
Joined
·
876 Posts
It's really big news that it's going through. I've been following the story for the past 15 years or so and it seemed at one point like it wouldn't (which I would have preferred).
23 lifts to service max 3000 people per day?!? Someones math seems a little off.
Have you seen the build plan? Looks like it's pretty much going to be a resort for rich beginner-intermediate tourists who are more concerned with the scenery and apres ski than the actual skiing... bland boring flat glacier runs. At least the snow will be excellent and skiing in mid-summer once or twice would be neat. Might be some great lift accessed backcountry.

Actually the more I think about this, this could be a good thing... attracting all those punters to Jumbo leaving the good hills to the shredders. :thumbsup:
 

·
Registered
Joined
·
37 Posts
For what my opinion is worth, it ain't a gonna happen anytime soon.

Given the collapse in the economy (the recreation sector in particular) I can't see any investors being foolish enough to buy into this for the foreseeable future. None of the ski hills in B.C. did particularly well this year and memories of the fiasco at Revelstoke are still fairly fresh.
 

·
Registered
Joined
·
876 Posts
For what my opinion is worth, it ain't a gonna happen anytime soon.

Given the collapse in the economy (the recreation sector in particular) I can't see any investors being foolish enough to buy into this for the foreseeable future. None of the ski hills in B.C. did particularly well this year and memories of the fiasco at Revelstoke are still fairly fresh.
You could be right, but that's the same thing that was said about Kicking Horse and a few years later about Revelstoke... and both are slowly becoming successful. The econmy may have 'collpased' but don't tell that to anyone in Alberta or Saskatchewan, where no recession was felt at all (infact, stronger growth happened). Albertans being a large percentage of the skier visits to many BC hills.
I'm not sure what you're referring to by the hills in BC failing to do particularly well this year... skier visits generally go hand-in-hand with snowfall amounts and the preliminary reports this year suggest around normal numbers (although once again, much higher this year in Revelstoke compared to last, over doubling the number from two years ago)
Not trying to rip on you, but I just think your a little off on this one.
 

·
Registered
Joined
·
1,129 Posts
neither revy nor khmr have ever turned a profit
Excluding or including the real estate side of things?

Generally speaking, resort ski operations exist solely to inflate the surrounding real estate value. Losing money on operations is treated like a marketing expense. Neither KHMR or Revy have been very successful to date on the real estate development side.

The Jumbo Glacier project is, in a word, ambitious. IMO, it's predicated on a hell of a lot of high-end real estate sales in the middle of nowhere amid a lot of push-back from the first nations people of the area. The timing of the announcement is interesting in that it divides the focus of those opposing between it and the Northern Gateway pipeline, so score one for the developers. Maybe they'll even get all their permits, environmental assessments signed off before another 20 years passes.

That said, the bottom line is whether or not they can get XX number of units pre-sold before a shovel goes in the ground. These things don't get built on spec. Western oil money is looking for a place to
settle, but even this is pushing the weekend commute distance from Calgary, let alone anywhere else.
 

·
Banned
Joined
·
1,314 Posts
For what my opinion is worth, it ain't a gonna happen anytime soon.

Given the collapse in the economy (the recreation sector in particular) I can't see any investors being foolish enough to buy into this for the foreseeable future. None of the ski hills in B.C. did particularly well this year and memories of the fiasco at Revelstoke are still fairly fresh.
You give the Canadian politician far too much credit for logical thinking ( no offense "normal" Canadians, lol).

Raping/destroying the environment to build more condos to eat expensive food is the American/Canadian way. Revy, Vail, and when the snow stops for a few years, things will get hot.
 

·
Registered
Joined
·
1,169 Posts
Discussion Starter #14
KH and Revi are doing ok considering the economy. I think when things turn around they will be well placed to boom. RCR picking up KH was a great move as they now have a good hold on the flush Calgary market.

As for the environment Canadians like most first world countries don't give a shit. Everyone is green until it comes to their wallets!
 

·
Premium Member
Joined
·
4,499 Posts
Excluding or including the real estate side of things?

Generally speaking, resort ski operations exist solely to inflate the surrounding real estate value. Losing money on operations is treated like a marketing expense. Neither KHMR or Revy have been very successful to date on the real estate development side.
the main problem with real estate financing a recreation area is that nothing is selling right now

revy is a good example of a real estate pump and dump scam

revys a cool mountain, it just wasnt built to be a ski area first and real estate second

(its also on the wrong side of the valley but thats a different issue)
 

·
Registered
Joined
·
37 Posts
You could be right, but that's the same thing that was said about Kicking Horse and a few years later about Revelstoke... and both are slowly becoming successful. The econmy may have 'collpased' but don't tell that to anyone in Alberta or Saskatchewan, where no recession was felt at all (infact, stronger growth happened). Albertans being a large percentage of the skier visits to many BC hills.
I'm not sure what you're referring to by the hills in BC failing to do particularly well this year... skier visits generally go hand-in-hand with snowfall amounts and the preliminary reports this year suggest around normal numbers (although once again, much higher this year in Revelstoke compared to last, over doubling the number from two years ago)
Not trying to rip on you, but I just think your a little off on this one.
Good to have all perspectives. What I will say is that the Alberta and Saskatchewan economies are not the big story here - day skiers and a few condo buyers aside that's not where the money is coming from for a development of this size. It's the big investors, individual and institutional, who will have to be convinced if this is to get up and running.

There are just too many resorts scrambling for the same dollars right now. Lots of local skiers at the southern interior hills this year but not as many Americans who used to make up a significant number of the visitors. As was said previously, recreational property sales at Canadian ski resorts are flat (the people who have money seem to be buying houses in Phoenix at fire sale prices). Why would anyone think that building a bunch more right now would be a good investment?
 

·
Registered
Joined
·
1,129 Posts
Someone told me that the canadian ski team trains in that area in the summer. maybe that is how they are expecting it to work?
 

·
Registered
Joined
·
1,129 Posts
the main problem with real estate financing a recreation area is that nothing is selling right now
That's what I see as the problem with Jumbo Glacier. You really need the big money investment firms to get involved. And they are looking for investment opportunities, be it condos, retirement homes, new subdivisions, office towers, etc. It's one thing to convince Hong Kong or Swiss money to invest in Whistler resort real estate: it's well known, near a major population centre, fairly easy to access thru a significant international airport, is four season and is a fairly safe bet to appreciate well over the medium to long term. But still, it's resort real estate and therefore much riskier than commercial or residential real estate. More like buying houses in a one-mine town.

It's quite another thing to convince them to invest in a relatively unknown area, without a major population centre nearby, without easy air access, but with tremendous potential. If I'm the Hong Kong money, I'm investing in Pheonix or Victoria retirement communities right now and checking back on Jumbo Glacier in a few years. If Jumbo Glacier was an hour outside Vancouver, then maybe I'll take the risk today.

My real point is that with a project on the scale of Jumbo Glacier, it's the institutional investors who will decide things. Having several monied individuals who'll buy a unit or 2 or 3 isn't good enough, you'll need to pre-sell 1000 units to put a shovel in the ground, not 100 units. It's at the go big or go home scale.
 
1 - 20 of 21 Posts
Top