Saddleback Resort, ME

[Lifty@50]

I was looking into buying a place at this new resort project last year but am not completely sold on this idea yet. Does anybody know anything about the current state of this project, or the layout of the mountain?

One major drawback for me is the inaccessability of the resort by plane. Also, I am not spending a dime on real estate until the bottom drops out of the market completely, most likely around March 2009.

 

[icelanticskier]

waiting for bottom drop? march 2009? are you reading my mind? saddleback is a kick ass mountain with the advanced terrain off of the partially above treeline summit ridge which has a great pitch for 1000 vert and incredible tree skiing, separated from the lesser advanced lower mountain stuff that gives the mountain over 2000 vert with more vert available with more expansion. there is great terrain on the mid/lower mountain as well. they cut at least 5 new trails/glades for this season on top of many new in the last 2 with a new summit quad. the owners have deep pockets, bottomless practically as skier visits are way less than say, a burke mountain. the quality of skiing on a pow day is competition free, i showed up on a pow day 2 years ago mid week and maybe 10 skiers were there and we had to beg them to run the lifts and the manager stepped in and man, all day untracked 60 trails for 10 skiers, OK! and when it's raining in many spots it's snowing there. i don't mind divulging this info as 99% of the folks reading this won't ever go cuz it ain't jay and it's too far. i was talking to joanne in sales as i was securing free skiing for my staff today there for the winter and it sounds like all plans are a big GO! for all of the expansion. when all is developed, the terrain could easily dwarf killington as they own like 8000 acres. good stuff.
rog

 

[pavelski]

Saddleback is one of those "uncut diamonds"! Few skiers know about it. Projects are on go,,however with USA proplems it would be wise to wait and see how deep and extended the issues will last!
Some persons project a long 2 year slump,,,, Wise to wait!

As far as plane access, forget it for many many years!

Pavel

 

[skiharmony]

waiting for bottom drop? march 2009? are you reading my mind? saddleback is a kick ass mountain with the advanced terrain off of the partially above treeline summit ridge which has a great pitch for 1000 vert and incredible tree skiing, separated from the lesser advanced lower mountain stuff that gives the mountain over 2000 vert with more vert available with more expansion. there is great terrain on the mid/lower mountain as well. they cut at least 5 new trails/glades for this season on top of many new in the last 2 with a new summit quad. the owners have deep pockets, bottomless practically as skier visits are way less than say, a burke mountain. the quality of skiing on a pow day is competition free, i showed up on a pow day 2 years ago mid week and maybe 10 skiers were there and we had to beg them to run the lifts and the manager stepped in and man, all day untracked 60 trails for 10 skiers, OK! and when it's raining in many spots it's snowing there. i don't mind divulging this info as 99% of the folks reading this won't ever go cuz it ain't jay and it's too far. i was talking to joanne in sales as i was securing free skiing for my staff today there for the winter and it sounds like all plans are a big GO! for all of the expansion. when all is developed, the terrain could easily dwarf killington as they own like 8000 acres. good stuff.
rog

icelantickier nailed his assessment of the mountain in my opinion. This mountain has so much potential it's ridiculous. As he mentioned, in terms of raw credentials, it stacks up to anything in the East. More vertical to come (on top of over 2000 currently) and almost unlimited terrain growth. Warren Cook (former CEO and Owner of Sugaloaf) has stepped in and is now running the show as of September. I assume their development plans may become more expensive under his direction. It already has the best tree skiing in the region IMO, and they haven't even scratched the surface. And as pointed out there's supposedly more for this season, along with 3 new top-bottom advanced/expert trails. They plan to "clean up" the snow fields to make it easier for skier's to drop into the headwalls along the ridgeline from the summit as trail expansion has continued. The mountain has incredible terrain and it's amazing to think that it's only about 1/2 of what they plan to have, a lot of which will be for experts. In terms of real-estate development planning, they plan to brake ground on a 60-80 room inn next summer. If you have any concerns about the quality of the real-estate being developed, have you seen the base lodge? It's the best I've seen. To put things in perspective, Ski Magazine (take it for what it's worth) rated the Top 20 resorts in the East last month. Saddleback was no where to be found. There was no other mountain NOT on that list that touches what Saddleback provides for elements (4210 elevation, terrain variety..) for one simple reason--No ammenities. You have to consider the state of the economy of course, but we're close to bottoming out. After that Inn goes up, this place will explode onto the national scene and "value" will decrease. From a skier's perspective, this could very well be King of the East, and I have no doubt that the real-estate planning will be top-notch going off it's brief history. I say "skier's perspective" because there's certain things it will never be. It will never be a Killington. But it doesn't want to be a Killington. If you ask me, the time to buy is NOW. I don't think you'll get more bang from your buck than you would within the next few months.

 

[skiharmony]

I was looking into buying a place at this new resort project last year but am not completely sold on this idea yet. Does anybody know anything about the current state of this project, or the layout of the mountain?

One major drawback for me is the inaccessability of the resort by plane. Also, I am not spending a dime on real estate until the bottom drops out of the market completely, most likely around March 2009.

Lifty,
I just was sent and advertisement from Saddleback and they're marketing the real estate pretty hard with a pre-season push. There are deals up to the start of ski season (12/13). I don't know the details but it may be worth looking into...

 

[Lifty@50]

Thanks for the Update.... I'm going to wait this one out and see if they survive, or go the way of the Yellowstone Club, Tammarrak and so many other startup projects in this deteriorating financial environment.

 

[icelanticskier]

as much as i love the place, people won't go. it's too far, it's maine, it's too cold, it snows a bunch, has great terrain, is pretty close to unmatched in the east for all day quality powder skiing, all reasons why i ski there. for how much is being put into the place, they'll never see the revenue to make it a long term go to be anywhere near break even like burke in vermont where all projects are on hold for the foreseable future.
rog

 

[skiharmony]

as much as i love the place, people won't go. it's too far, it's maine, it's too cold, it snows a bunch, has great terrain, is pretty close to unmatched in the east for all day quality powder skiing, all reasons why i ski there. for how much is being put into the place, they'll never see the revenue to make it a long term go to be anywhere near break even like burke in vermont where all projects are on hold for the foreseable future.
rog

as much as i love the place, people won't go. it's too far, it's maine, it's too cold, it snows a bunch, has great terrain, is pretty close to unmatched in the east for all day quality powder skiing, all reasons why i ski there. for how much is being put into the place, they'll never see the revenue to make it a long term go to be anywhere near break even like burke in vermont where all projects are on hold for the foreseable future.
rog

I would argue that they' can't break even. I'm sure they can break even and that's all they really intend to do. They're OK being in the Red initially too from what I can tell.

And that's why this place is going to be special. The owners have deep pockets, as you've referenced. They've also stated on record that they don't care about spinning a profit. They inherited a couple hundred million dollars and their mission is to provide superior alpine skiing at an affordable price. Instead of donating all the money to a charitable foundation, they decided to dump it in to an area and a hobby that they all share a strong passion for. It sounds too good to be true...But apparently these are the sort of benefits you get from a family-owned business that's willing to spend money (a huge mountain with ridiculous terrain doesn't hurt). From an owners perspective will this mountain ever achieve the financial success that some other resorts i.e. those with shareholders and/or those more convenient to metropolitan areas? No, and that's not their mission. The owners aren't having to answer to shareholders about where and where not to spend money and constantly worrying about the bottom line. But in many ways that's what is going to set this mountain apart. People can go ski at a mountain that enjoys a hugely successul customer experience.

If I'm a prospective home-buyer/condo buyer with the financial means at a place like this, I'm in. Who doesn't want to be a part of that? Why be overly concerned about the financial success of the mountain when the owners are willing to open up their wallets anyways?

People won't go? Fine. More for those that do go...

 

[icelanticskier]

amen. thank god it ain't in vermont, cuz if it were, they would come, come in droves.
rog