Sunday, October 15, 2017

Buying a Home? 4 Signs It’s Time to Call An Agent

#Colorado
Michael Yearout Photography


Buying a property?  Four signs it's time to call an agent.


RE/MAX Blog Link


While house hunting TV shows tour the neighborhood, close the deal and throw a housewarming party in 30 minutes, real life is not as streamlined. 

If you're in the process of buying a home, here are signs it's time to call a realtor.

1. You believe everything on the internet

While you can view tons of listings online, not all of the information is accurate or up-to-date. You'll see outdated comps, conflicting forecasts and different ratings. 

With access to the MLS and insight on properties about to hit the market, a Realtor will make sure you're considering all of the homes in your market that fit your criteria.

2. You're juggling a hectic schedule

You don't need to spend time sorting through listings and contacting sellers. An agent will do the browsing so you only visit the homes that best fit your needs and price range.

3. The biggest thing you've negotiated lately was your kids' bedtime (and you lost)

As professional negotiators with years of experience, Realtors know how to create, present and negotiate the best offer. Remember, you'll be going up against another professional negotiator: the seller's agent.

4. You don't know if a neighborhood is on the way up or down

An agent who knows the neighborhood can give you the scoop about local developments and changes that don't always pop up in a Google search. He or she will also put them in context of larger market forces that could impact the future value of a home.

If you're looking for an experienced professional to guide you through the home buying process, contact me, I can help you.

Saturday, October 14, 2017

City Council passes on Steamboat Ski Area’s offer to serve as consultant at Howelsen Hill

#Steamboat Springs #Colorado
Howelsen Hill shines under the lights beside downtown
Steamboat Springs | Steamboat Today

Summit Daily News Link


STEAMBOAT SPRINGS — Executives from Steamboat Springs’ big ski hill will not help the city of Steamboat Springs manage its little ski hill this winter.
Steamboat Springs City Council on Tuesday said "thanks but no thanks" to a $225,000 proposal from Steamboat Ski and Resort Corp. that would have had the bigger ski area trying to help the city find a way to make Howelsen Hill more profitable.
Some council members questioned the value of the contract, while others said the city had simply run out of time to get something together before the ski season kicked off.
Councilwoman Lisel Petis said she heard from community members who were initially excited about the ski area’s offer to help but then found themselves angry after hearing the resort wanted more than $200,000 for it.
Petis didn’t think the city should pursue the contract.
“For us to pay the ski resort to try out the hill for a year” to see if they want to take it over in the future doesn’t make sense, Petis said.
Petis said the city had put out a request for a new operator of the ski hill, not a consultant.
Ski Corp. President Rob Perlman said it would take a lot of time, energy and resources to turn Howelsen from a subsidized ski hill to one that made a profit.
“We thought it was a fair proposal,” he said.
He also expressed skepticism about an idea to charge only $1 for lift tickets at Howelsen that was floated by Council President Walter Magill.
“We aren’t successful at $20 lift tickets today,” Perlman said. “I think you could give it away and still have our problem.”
The ski resort had offered to install a general manager and an assistant general manager to oversee Howelsen operations. The resort would also have generated a report at the end of the consulting contract.
Council members had different opinions about whether to pursue a consulting contract with the ski area next year.
Councilwoman Robin Crossan wanted the city to keep the dialogue with the resort open with the intention of possibly coming to an agreement in time for next winter.
Other council members said there were still too many unknowns on the ski hill, including whether a chair lift will be replaced, to pursue an agreement at this time.

Friday, October 13, 2017

New Highway 9 Iron Springs traffic alignment set for Monday night, Oct. 16

#Breckenridge #Colorado

Summit Daily News Link


The Colorado Department of Transportation and SEMA Construction plan to implement a traffic alignment to utilize the new northbound lanes between the light at the medical campus in Frisco and Summit High School on Monday evening, Oct. 16.
Northbound traffic will shift over to the new northbound side and southbound traffic will remain in its current location. Both directions will, for now, remain a single lane to allow crews to complete the next phase of the work in the median.
If weather impedes the alignment shift on Monday, it will instead occur on Tuesday evening, Oct. 17. Hours of operation for traffic switch are scheduled from 7 p.m. to 5 a.m. and motorists should anticipate flaggers on the roadway as well as temporary delays of up to 20 minutes.
Overall construction completion — two lanes each direction — is scheduled for late-December.

Thursday, October 12, 2017

The RE/MAX Balloon - Then and Now

#Colorado

RE/MAX Blog Link


Today it's one of the most recognized corporate symbols in the world. But the first time a drawing of a red, white and blue hot air balloon was proposed as the RE/MAX logo by two franchisees in 1977, it was rejected. They were allowed, however, to buy a balloon for special events.

The next year, the franchisees made their case again at a regional meeting – this time with footage of the balloon flying in the Albuquerque International Balloon Fiesta.

The response was unanimous: "No."

It wasn't until the balloon starred in an 8-week TV commercial campaign (with footage shot by RE/MAX founder Dave Liniger, who is also a Cessna pilot) that the company embraced the balloon as the visual representation of the RE/MAX network's "Above the Crowd" commitment to quality.
Since then, the company's fleet of balloons has grown to 120 aircraft that fly over 26 countries around the world. 

Agents and brokers use the balloons at fundraisers, open houses, grand opening and community events. Some RE/MAX balloon pilots conduct educational events for schools and other community gatherings where they teach people about hot air ballooning and give rides. In logo form, the balloon has graced millions of business cards, advertisements and "SOLD" signs.

This past August, RE/MAX debuted a refreshed brand for the first time in over 40 years. The balloon, of course, is still the star. The brand evolution took two years and included input from more than 20,000 consumers. The new look is brighter, more modern and more in line with today's real estate trends which include younger consumers. After all, at 34%, Millennials made up the largest group of homebuyers for the fourth straight year.

The first balloon with the new RE/MAX logo will debuted at this year's Albuquerque International Balloon Fiesta. Eventually, the entire fleet will carry the new art, though the change won't occur overnight. The RE/MAX fleet is the largest fleet of hot air balloons in the world. Each holds about 90,000 cubic feet of air, weighs 750 pounds and can reach an altitude of 12,500 feet without oxygen.

Wednesday, October 11, 2017

Arapahoe Basin Ski Area will open for 2017-18 season on Friday, Oct. 13

#Arapahoe Basin #Colorado
Summit Daily News


Summit Daily News Link

Arapahoe Basin Ski Area announced today it will open for the 2017-18 ski and snowboard season on Friday, Oct. 13. The Black Mountain Express lift will start turning at 9 a.m., giving skiers and snowboarders access to the intermediate High Noon trail. Arapahoe Basin is often one of the first ski areas to open in North America. Mountain operations will continue to make snow as weather permits with the goal of opening additional terrain.
 "Mother Nature has been kind to the Basin," said Alan Henceroth, Arapahoe Basin chief operating officer, in a statement. "It's exciting to kick off the ski season earlier than usual, and welcome winter back to Colorado."
Early season lift tickets can be purchased online, in advance at tickets.arapahoebasin.com. Tickets can also be purchased at the mountain. Current lift ticket window pricing will run through Dec. 15, with adult (ages 19-69) full-day tickets priced at $79, youth (ages 15-18) window tickets priced at $67 and child (ages 6-14) window tickets priced at $39. Children age 5 and under ski free every day of the season. Information about season passes and multi-day tickets can be found at ArapahoeBasin.com.
 Skier services available starting opening day include ski and board rentals (8 a.m. to 4:30 p.m.) at the Kids Center (for both kids and adults) and retail sales at Arapahoe Sports (8 a.m. to 5 p.m.). Snowsports value season private lessons are available starting opening day. Dining options at the mountain will include: breakfast at Legends Café from 7:30 a.m. to 10:30 a.m.; full lunch and après service in the 6th Alley Bar & Grill starting at 10:30 a.m.; lunch service at Black Mountain Lodge (mid-mountain) starting at 10:30 a.m. A-Basin Mug Club sales start opening day at 8 a.m. in Marnie's Bar on the 2nd floor of the A-Frame; mugs are $45 and entitle the owner to beverage discounts in the 6th Alley Bar & Grill and a free beer to kick off the season. Mugs are sold on a first-come, first-served basis; limit one mug per customer and purchasers must be 21 years of age.

Tuesday, October 10, 2017

October market trends report

#Summit County #Colorado


October Market Trends:


Properties of the Summit



October 2017


Our local market is still "steaming hot" as you will see in the following September 30th YTD Market Update. The average sale price has continued to increase which has been great news for Sellers. For you buyers out there that have been contemplating a Breckenridge or other area of Summit County investment it is time to buy now and enjoy those price increases yourself in the upcoming years. It is also a great time to make your move considering that interest rates haven't yet been effected by the Fed rate increases, so they are still super low. Will rates feel the "pinch" with expected future Fed rate increases? Why wait to find out? 
​I am here to help you succeed in your real estate interests and goals on your timeline. Contact me today. 

Click here for the latest market trends report

Monday, October 09, 2017

Colorado ski industry adds teeth to climate change talk

#Colorado
Summit Daily Photo

Summit Daily News Link


Last week in Keystone, a modern-day prophet on climate change addressed a room of several hundred High Country residents as they chomped away at their breakfasts, daring each of them to accept a simple challenge.
"I'm asking you to save civilization," he said unabashedly. "You're being asked to do a major thing and your response should be, 'Oooh, I don't know if I'm your person, I can barely wake up in the morning.' But the truth is history is replete with people of no power at all who have done incredible things."
The directive seemed straightforward enough to Auden Schendler, who is regarded by many as an oracle on the future of outdoor-centric life and sustaining human existence as we know it, but it was perhaps not the lesson attendees might have expected over their buffet bacon and eggs. However, if maintaining the mountain lifestyles they've come to enjoy is important, he said, the time to act is now.
"There's risk in not taking action vocally on climate," said Aspen Skiing Co.'s vice president of sustainability. "There's opportunity in moving (on it), and we can solve this problem."
Schendler, also the chair of the activist group Protect Our Winters, was the keynote for the annual winter season kickoff and he took the opportunity to present a grim yet optimistic portrayal of the ski industry's prospects if they don't collectively work to combat the warming of our globe. Efficiency-minded activities like swapping out light bulbs, no matter the scope, aren't going to do it alone.
"He's absolutely right, these are business decisions," said Gary Rodgers, president and CEO of Copper Mountain Resort. "These aren't really necessarily things that are going to change the world, but they're certainly the right decisions for our business."
Copper's other sustainability initiatives like its Green Team and its decade-old employee-driven Copper Environmental Fund help to balance environmental stewardship and fiscal responsibility, as well as educate the next generation of conservation custodians. Those efforts only continue to ramp up by the season given concerns over declines in annual snowpacks.
The pledge of Vail Resorts, Inc., owner of Breckenridge Ski Resort and Keystone Resort in Summit County, this past summer to a net-zero footprint on the environment by 2030through renewable energy sources, carbon offsets in addition to improved recycling and composting programs should be applauded, said Schendler. The willingness to openly advocate for national and international policies that prevent the planet from reaching catastrophic temperature increases — no matter the negative public relations or financial impacts — is much more significant, and the true path to success.
"It is important, our commitment to better results within our environment," said John Buhler, COO of Breckenridge Ski Resort. "This community is so incredible, almost every single town and the county are working toward these goals. We're very proud to join everyone on this journey."
The willingness to install more solar panels and reduce overall emissions by staying up on state-of-the-art snowmaking and grooming technologies are steps in the right direction, agreed Alan Henceroth, COO of Arapahoe Basin Ski Area. It's doubling down and making decisions that may be unpopular with some patrons or facing criticism that is really putting money where your mouth is.
"Climate change is real and we really need to act to do something about it," Henceroth said to a room full of applause. "We really have to try and find meaningful measures, because this is going to have to change. So don't be afraid to do the right thing."
The benefit of many of these prescribed choices, of course, is that they're also economically advantageous. Not to mention that prolonging the viability of the ski industry is in both owner and operator's best interests just the same as the powder hounds who frequent the resorts.
"Most of the things we care about we agree on, help business and protect the environment," said Schendler. "This is bold, but it's business, too."
And, he concluded, you don't have to be the chief of a ski area to do your part. In fact, just the opposite, and it's really a civic duty as people try to come up with solutions for perpetuating a livable, playable planet.
"There's nothing more American, more citizen-like you could do than calling your congressperson," he said. "We think that the actions that will help solve climate change are driving a Prius, changing our light bulbs, insulating our house. But the scale of the problem is too big, and you have to wield whatever power you have. We have to put bigger policy in place."

Sunday, October 08, 2017

6 Things Buyers Should Know About Home Warranties

#Colorado

RE/MAX Blog Link


Unless you've purchased a brand-new home that includes warranties on the newly installed systems and appliances, there's no guarantee you're covered for repair or replacement if something stops working in your new place. One way for buyers of pre-owned homes to protect themselves against the risk of costly repairs is to consider purchasing a home warranty.
A few things you should know about home warranties:

1. They’re NOT homeowner’s insurance.
Homeowner's insurance generally protects the structure of your home and your possessions inside your home, while warranties cover appliances and systems. For example, some things covered by a warranty would be repairs to your furnace, hot water heater or electrical system. Homeowner’s insurance, on the other hand, typically covers repairs of damage to the home from theft, fire and some weather-related incidents; it also covers injuries that are caused by these types of incidents.

2. They’re not all-inclusive.
Although warranties usually include HVAC, plumbing and electrical, they do not include everything you might personally consider a “system” or “appliance.” It depends on the specific policy. For example, some basic policies cover septic systems; others don’t. Talk with your warranty issuer to make sure you're getting the coverage you want and need.

3. They cover the unknown.
Any existing issues with your systems and appliances should have been found during your home inspection and addressed prior to you taking ownership of the home, if you negotiated repairs and replacements. Warranty companies consider problems identified during a home inspection as “known conditions,” and often don’t cover them. Home warranties generally cover “unknown conditions,” issues that would not have been revealed through a normal home inspection or ones that develop after you move in.

4. They won’t break the bank.
Generally, home warranties range from about $350 to $500 per year. Often, it’s up to you to purchase a policy. Other times, sellers may include a policy as added incentive during negotiation of the home sale. Some real estate agents give homebuyers a home warranty as a gift after the home purchase is settled.

5. They come with fine print.
There are a number of companies that offer home warranties. Ask your agent for guidance on where to turn. And be sure to read the entire policy to confirm exactly what’s covered, to what extent and the steps you’ll take if you ever need to file a claim.

6. They’re great for first-timers.
Home warranties can be especially helpful in providing peace of mind for first-time homebuyers who are unfamiliar with home maintenance and repairs – as well as buyers of high-mileage homes – especially during the first year.
For guidance on home warranties and all facets of the homebuying process, contact me.

Saturday, October 07, 2017

4-star hotel for Breckenridge?

#Breckenridge #Colorado
Summit Daily News

Summit Daily News Link


Breckenridge Grand Vacations hopes to soon break ground on a new four-star hotel that the company's co-owner and CEO Mike Dudick says could be one of the biggest developments in town history.
BGV is a real estate development company formed in Breckenridge in 1984. It currently manages four resorts in town — the Gold Point Condominiums, Grand Timber Lodge, the Grand Lodge on Peak 7 and its newest asset, the Grand Colorado on Peak 8.
This project, however, is an entirely new venture for BGV, and if it comes to fruition, will feature a 150-room luxury hotel that, to the best of Dudick's knowledge, would be the first four-star hotel of its kind in Breckenridge.
"I'm looking forward to helping steer that process to completion," he said, adding that he believes "a majority of the town" would also enjoy having "something where people can say, 'Let's make a reservation and go to this place.'"
“I know in my heart what matters to the town of Breckenridge is that we get a four-star hotel, and I hope to make that happen.”Mike DudickCo-owner and CEO BGV, Breckenridge Town Councilman
For the hotel, Breckenridge Grand Vacations is working with the Miami-based real estate development firm Lionheart Capital, which currently has other high-end resort projects in the works in Miami and Palm Beach, Florida, and the Emerald Coast in Nicaragua, according to the firm.
Dudick said the land on which Lionheart and BGV hope to build the new hotel is under contract with Vail Resorts. The property is next door to One Ski Hill Place and houses Vail Resorts' administration building. The building overlooks Ski Hill Road with parking lot access from Four O'Clock Run Road, and the structure would be demolished to make room for the new luxury hotel.
Dudick declined to disclose specifics of the contract with Vail Resorts, which is not yet finalized, but he did talk about possible motives for the move.
"Vail Resorts is committed to providing great ski experiences," he said. "And they want to have a diversity of lodging and choices. … Now there's going to be a four-star hotel at the base of the ski mountain, and it's going to be great for Breckenridge."
Before any work can begin on what could eventually become Breckenridge's flagship hotel, the partners will have to get town council's approval to add residential density to the property.
Elected for the second time in April 2016 after serving one term from 2010-14, Dudick currently holds a seat on council. He said the request for additional density will likely come up sometime in the next month but was adamant he will not be involved in the council's decision-making process in any way.
"I will 100 percent recuse myself and have no participation in any decision about this," he said. "I hope that the merits of the idea prevail, but I will have zero input on what goes down. Zero."
Four-star hotels are known for upscale décor, plush amenities and high-end services, such as a dedicated concierge, valet parking and 24-hour room service. Many also have upgraded pools and Jacuzzis, full-service spas, on-site child care and access to nearby entertainment and recreation venues, though it's a loose rating system with significant differences from one hotel to the next.
"I know in my heart what matters to the town of Breckenridge is that we get a four-star hotel, and I hope to make that happen," Dudick said. "I know we don't have anything like this in Breckenridge today, and I'm all-in on doing things the right way."

Friday, October 06, 2017

Town of Breckenridge updates logo after 16-year run; reaction is mixed

#Breckenridge #Colorado
Summit Daily News

Summit Daily News Link


The town of Breckenridge has rolled out a new logo, updating a 16-year-old design in favor of something town officials feel is cleaner, modern, more easily identified and different from any other emblems around the county.
"We wanted to come up with a design that could pivot in all directions," said Haley Littleton, the town's communications and marketing coordinator. "We were looking to develop something that looks official on documents but also contains elements of our character and history."
Explaining the need for a new logo, Littleton said the old one was outdated and hard to read, especially on town vehicles. After 16 years, she continued, it was time for an update, and the goal was to create a new logo in line with current trends while honoring the town's rich past.
To produce the logo, the town hired Breckenridge resident David Rossi as the graphic designer. Overall, town council allotted $8,600 in last year's budget for the effort, and Littleton said the new logo did not run over.
She also complimented Rossi for "taking all the opinions involved in the project and developing a logo that is both modern and exciting and received unanimous approval" from town council after the months-long design process, which incorporated direction from council members and town staff alike.
Rossi developed the new logo with a reference to the roofline design that's seen throughout Breckenridge, and he included an allusion to the mountains. The blue and the gold colors reflect Breckenridge's heritage as a mining town and its alpine environment, according to Rossi.
Comments on the town's Facebook page, where the new logo was revealed Tuesday, ranged from the highly complimentary to a number of people who weren't nearly so supportive.
"We understand that design is always going to be somewhat subjective," Littleton said, acknowledging the mixed reviews on social media. Still, with more than 80 likes and a large number of positive comments on the post, the new logo was fairly well-received, especially for Facebook, where opinions often can be raw and brutal.
Many of the comments came from people like Timothy Faust, Mikayla Springer and Juli Rathke, who all echoed language used by town staff in applauding the new design, calling it "clean" and "fresh."
Breckenridge councilman Jeffrey Bergeron noted he can't wait to see the new emblem on a hoodie: "Light blue size med."
Perhaps the most supportive of the bunch came from Lucy Beth Greene: "As someone who wants to put down roots here in Summit County, I think this is a great move for the future of Breckenridge. Love it!"
Others thought the new logo looks too much like the banner on a sailboat's spinnaker, or they thought it "boring."
"Some things don't need to be changed and are better off left alone," noted Kevin Wood, adding later: "Don't hate it, but I'm entirely underwhelmed."
Littleton said she believes the new logo will grow on people as the town puts it into use and people see it pop up around Breckenridge.
The push for a new town insignia began in February, when town council proposed a "refresh" of the old logo that was created in 2001 and features another rooftop design over the words "Town of Breckenridge" in a light, artsy font.
Council approved the initial design for the new logo Sept. 26, and town staff is working on a new media kit and brand standards. Subsequent designs of the new logo will be released in stages, according to the town.

Wednesday, October 04, 2017

How Cold War-era dreams of weather modification are coming true in Colorado’s ski country

#Colorado
Summit Daily Photo

Summit Daily News Link


Larry Hjermstad is a pioneer of cloud seeding, so naturally he has some frontier tales.
Back in the 1970s, farmers in the San Luis Valley stalled his efforts to set up the area's first seeding operation, which aimed to increase precipitation by spraying dust into the skies.
Wary of what he was up to, they blew up his radar dishes and shot at airplanes, Hjermstad recalled.
"They said, 'We're not sure you know what you're doing,'" he said. "So I set up a committee, and told them, 'Before each seeding, I'll tell you exactly what I'm going to do.' After the third one they said, 'You don't have to call us anymore.'"
Hjermstad and his company, Western Weather Consultants, now run cloud seeding programs across the state, including in Summit County.
For decades, local ski areas have paid him to send plumes of silver iodide up to their slopes when opportune storms approach, squeezing out a couple of extra inches of snow each time.
In recent years, however, water managers on the Front Range and even states further down the Colorado River have started to pitch in some of the $250,000 to $300,000 it costs to run the program in the Summit County area, hoping the extra snow will flow into their water system when it melts.
Here, in the Central Colorado Mountains River Basin, the company operates about 36 cloud seeding generators. They're small, almost homebrew-looking devices that burn a solution of inert silver iodide and send it into the atmosphere.
Some of the generators are on private land, and when Western Weather Consultants detects an optimal storm coming, it sends instructions to the landowners to fire them up. It varies, but Hjermstad says the process can boost snowfall by as much as 25 percent.
"If we were able to do this over the entire state with all of the mountain ranges, we could add the (water) equivalent of one entire river," he said.
So why aren't they?
"Because there are still people that are skeptical."
SNAKE OIL OR SCIENCE?
The concept of cloud seeding has been around since the 1940s, when Bernard Vonnegut (brother of author Kurt) discovered that silver iodide could produce ice crystals when introduced into cloud chambers.
In those heady days, cloud seeding was heralded as a way to produce rain where there was none, boosting crop yields and filling reservoirs to the brim.
That was a wild overstatement, and cloud seeding's reputation suffered for it.
"Back in the early days there were a lot of snake oil people who were claiming like 100 percent increases in snowfall, so I think the problem is that it was oversold for a long time," said Frank McDonough, an atmospheric scientist at the Desert Research Institute in Nevada.
Studies in Australia and Israel have debunked the idea that airplanes spewing silver iodide willy-nilly will do much of anything. But a targeted approach that hits the right clouds at the right time high in the mountains has gained scientific currency in recent years.
"Most of the research programs have estimated that you can get around 10 percent (increases)," McDonough said. "Some storms you can get 25 percent and other storms you get zero."
The increases can be modest — an extra inch during a ten-inch storm — but over the course of a season that adds up to several extra feet.
One cloud seeding operation in the Tahoe area provides the annual water needs of about 10,000 homes, a several million-dollar value produced for pennies on the dollar, McDonough said.
RESORTS TO RESERVOIRS
Not every cloud can be seeded, and the process is as much art as science. The ideal targets are warm clouds where there's plenty of liquid water floating around at freezing temperatures that doesn't have any particles to latch onto.
On a cold day on the ski slopes when a cloud is hovering on the mountain, you can see evidence of this in the ice that forms on objects.
"If you go up to the top of A-Basin after a storm, you should see white ice that has grown on the lift towers and in the trees," McDonough explained. "What's happening there is the water drops are floating around in the cloud and as soon as they hit a structure, that structure serves as a spot for a freezing event. With cloud seeding, what you're doing is throwing some dust up in the cloud and creating the freezing in the cloud."
In other words, if you see ice forming on towers while skiing this season, it means there could've been a missed opportunity to turn that into some extra powder.
Vail Mountain, which has contracted with Hjermstad for more than 40 years, hasn't missed any of those chances for extra snow, he said.
"Some storms they would get 18 inches and everybody else would get 12," he said.
Breckenridge Ski Resort, Keystone Resort and Winter Park Resort are all sponsors of the Summit-area program. But snow that's good for skiing is good for drinking later down the line, and Front Range water managers have taken notice.
"Over time, there has been a lot more interest in weather modification programs in the state of Colorado," said Maria Pastore of the Colorado River District. "We're really excited to get into the sixth season (of cloud seeding) … the primary objective for the sponsors is to increase the water supply in the Upper Colorado River Basin."
Western Weather Consultants claims that its two seeding operations in the High Country generate between 180,00 and 300,000 added acre-feet of water per year, and that has been backed up by independent studies.
An outside evaluation of the Vail operation from 1977 to 2005 found statistically significant snowfall increases ranging from 6.3 to nearly 29 percent.
"With time, people have become more comfortable that the process is actually doing what it says it does," Hjermstad said. "Why would Vail keep us on for 45 years straight unless they didn't see something?"

Tuesday, October 03, 2017

Colorado ski resort executives talk climate, year-round models at annual kickoff event

#Summit County #Colorado
Courtesy Copper Mountain

Summit Daily News Link


As if on cue, the approaching winter could wait no longer and made itself the guest of honor for the annual ski executive breakfast, delivering almost a foot of fresh snow overnight in parts of Summit County.
It was a welcome sight at the public powwow hosted by the Summit Chamber of Commerce, even if it kept a number of chairs vacant at the Keystone Conference Center Monday morning. For more than two decades, the event has doubled as the unofficial kickoff for the upcoming ski season, and local resort leadership optimistically took the weather as a nice omen for what could be in store for the 2017-18 season.
Following a keynote address by Auden Schendler, a climate change activist and Aspen Skiing Co.'s vice president of sustainability, that challenged attendees to seek solutions to our heating earth, the principals of the five area resorts took center stage. Themes included individual capital improvements for this season, continued development of less weather-dependent, year-round business models, as well as the consolidation of the industry as the new Aspen Ski Co.-KSL Capital Partners venture makes a run at Vail Resorts, Inc.
First up and making his debut on the scene was Geoff Buchheister, Keystone Resort's new vice president and general manager as of about two months ago. The industry veteran highlighted the benefits of the upgrade of the Montezuma Express lift to a six-chair on top of the expansion of Labonte's Smokehouse BBQ at the base of the ski area's North Peak to five times it previous size. He said that capturing the family business remains the resort's primary thrust.
"It wouldn't be Keystone if it wasn't for kids and families," said the 42-year-old Winter Park native. "We want to get people and their families out and into our environment on our mountain to create memories. If that passion is created when you're young, you have a great opportunity to care about these mountains and care about our winters going forward."
Buchheister's Vail Resorts teammate, John Buhler, COO of Breckenridge Ski Resort since 2015, meanwhile emphasized upgrades across the nation's most popular ski area, from the brand new, 490-seat Pioneer Crossing restaurant plus crepe station on Peak 7, increased six-chair capacity of Peak 9's Falcon SuperChair and other snowmaking and guest facility enhancements. The return of the Dew Tour Dec. 14-17 for its 10th anniversary and as a 2018 Winter Olympic qualifier and the ongoing summer amenities through the Epic Discover program were other items spotlighted as Breckenridge presses on with year-round activities to draw visitors.
The latter is the plan at Arapahoe Basin Ski Area as well. COO Alan Henceroth explained to the audience that's why his resort has stressed summer supplements like its burgeoning wedding enterprise and recent disc golf course which are pieces of the overall puzzle and "weather-proof" the operation.
"We're trying to diversify our business," said Henceroth. "Skiing and riding is going to be the heart and soul of it — we're going to try and do as many other different things as we can — but we're going to continue to focus on keeping the culture and the vibe of A-Basin an extraordinary place."
Roughly 20 years in the making, the soft opening of 468 acres of terrain with the Beavers and The Steep Gullies this season is a major part of that strategy, too. About three-quarters of the black double-diamond area is ready to go for those willing to hike in and out, with lift service subsequently arriving in 2018-19. For now, a rope tow from the Lenawee Mountain Lift to Montezuma Bowl will have to act as a consolation prize.
The reintroduction of an International Ski Federation NorAm women's slalom event in mid-November was most of what Rob Goodell, Loveland Ski Area's director of business operations, had to offer. The resort's chief overseer joked that in Loveland's 80th season, the Clear Creek County resort was proud to remain independently owned in the midst of the arms race between Vail and Aspen-KSL to acquire and conquer.
Gary Rodgers, president and COO of Copper Mountain Resort, joined in on poking fun at the state of the industry's mass consolidation, suggesting the two 800-pound gorillas are going to battle it out while the rest of the smaller outfits sit on the sidelines, watching while munching popcorn. Still, improvements at the Powdr Corp.-owned resort this year entail four new or reimagined restaurants, a mountain coaster that operates in summer and winter, a replacement of the Kokomo Express green lift at Union Creek and guest RFID technology to track stats on season passes.
The snow guns are already spitting flakes at Loveland and A-Basin and, per tradition, the two will once again race to be the state's first ski area to start spinning chairs. The other three — Copper, Breckenridge and Keystone — each plan to follow and are working toward Friday, Nov. 10, as the target. In the face of questions surrounding the industry's long-term prospects due to global warming, all were happy to take Mother Nature's boost Monday as the foundation for the next season.
"The climate is certainly what's happening around us in the future, but we certainly can't predict what's going to happen," said Rodgers. "But, today was a great start."

Sunday, October 01, 2017

Vail Resorts reports record revenue for 2017 fiscal year even as U.S. skier visits decline

#Colorado
Summit Daily


Summit Daily News Link

Vail Resorts announced another record-breaking year during a Thursday, Sept. 28, earnings report from company CEO Rob Katz and chief financial officer Michael Barkin.
The company reported record revenue for another fiscal year — Aug. 1 to July 31 — despite a drop in Colorado skier visits. That drop in Colorado was attributed to scant early-season snowfall, as well as a late-arriving Easter holiday.
Skier visits elsewhere increased, and strongly. According to the company's report of Katz's remarks, skier visits climbed to roughly 12 million for the 2016-17, season, a 20.1 percent increase. Much of that increase was attributed to what Katz described as a better-than-expected season at Whistler Blackcomb, which was integrated into companywide results for the 2017 fiscal year.
Katz said strong visitation numbers were also seen at the Park City/Canyons resorts, as well as the firm's Northern California resorts, which benefited from massive snowfall.
Near the top of the company's big news was the report of a substantial jump in season pass sales compared to the previous year. Katz said pass sales through Sunday, Sept. 24, were up 17 percent over the same period one year ago. That increase in pass sales also came with a 23 percent increase in revenue.
While proud of the increase, Katz said the company expects the full-year growth to be more modest, since many pass buyers were acting to beat early deadlines. The addition of Whistler and Stowe, Vermont, also helped fuel pass sales.
'GEOGRAPHIC DIVERSITY'
Katz said Vail Resorts' "geographic diversity" has helped pass sales, since the company now has resorts in the Pacific Northwest, the Northeastern United States, California and the Rockies.
Early pass sales also bring the company more financial certainty than walk-up lift ticket purchases, Katz said.
To that end, Katz said pass sales also allow the company to get guests into the firm's databases, allowing the company to directly target guests.
Responding to a question from Bank of America analyst Sean Kelly, Katz said he isn't particularly concerned about the expected slowdown in pass sales until ski season starts. Some of the expected growth in pass sales came sooner than later this year, he said. That means a number of people who would buy passes have already bought them.
In addition to increased visits, guests also spent more money across the resort's other businesses — many due to Whistler's appearance on the company's balance sheets. Ski school operations saw a 24.1 percent increase, and dining increased a similar amount. Retail and rental revenue also increased by more than 20 percent.
In lodging, revenue per available room increased, despite a 1.4 percent overall decline in occupancy.
Some of those declines have come from international guests. Katz said a strong U.S. dollar against the Canadian and Australian dollar, as well as Latin American currencies, has been a boon for Whistler.
But, he added, "It's critical for the U.S. to focus on inbound tourism," adding that he expects the strong U.S. dollar to continue to be a challenge for the firm.
INCREASING COMPETITION
While Vail Resorts' various season passes have set an industry standard, Felicia Hendrix, an analyst for Barclay's, asked Katz what effects from competition he expects.
The Aspen Skiing Co. and KSL Holdings have in the past year or so acquired several prominent resorts, including Deer Valley in Utah, Mammoth Mountain in California and all of Intrawest's ski resorts, a portfolio that includes the Steamboat ski area.
"We've been competing with many resorts for a long time," Katz said. That competition also includes multi-resort passes from the Mountain Collective and the Max Pass.
"It's good for the industry," he said. "Skiers and riders will get so many more options."
Despite the appearance of a new large player in the industry, Katz said he's confident in his company's marketing efforts.
Competitors "can absolutely go into that," he said. "But it takes a little bit of time. I feel good that it'll be our company … that's the determiner of our success."
Responding to another question from Hendrix — reporters aren't allowed to ask questions during the earnings calls — Katz said Vail Resorts is still looking for acquisitions.
"There are still some unique opportunities in North America," he said. "It's the matter of getting the right match."
Vail Resorts is also looking for opportunities in Europe and Japan, Katz said.
Chris Agnew, an analyst with MKM Partners, asked Katz about the performance of Epic Discovery, Vail Resorts' relative new summer programs.
Katz acknowledged that there were "operational downtime challenges" at Breckenridge and Heavenly over the summer. But, he added, the company has expected it will take five years for the summer programs to mature.
Despite another record fiscal year for the company, the firm posted a loss in its fourth quarter — which isn't unusual. That loss — $57.1 million — equates to $1.43 per share, a better performance than the $1.82 per share estimated by Zacks Investment Research.
The company announced a quarterly dividend of $1.0575 per share for shareholders as of Oct. 10 of this year.
The company's stock closed the Sept. 28 trading day at $221.79 per share, down $6.25 per share from the previous day.