Feb 28 2009
It was the first substantial new ski resort development built in the United States in 23 years. There may have been reasons no one else tried to do what Tamarack Resort tried to do. Certainly, though word now of its impeding closure stands to be buried in the avalanche of rotten economic news, the resort’s troubles came well in advance of the nation’s economic troubles. The causes may be related, but the problems at Tamarack were specific, too, unto itself.
We should be clear here: The closure, slated to March 5, may or may not be permanent. But it seems the decision came not from the Douglas Wilson Company, which has run the operation for some months, but rather that of a judge. So no one knows what may happen next, other than that the results are likely to have a lot to do with however much debt is involved.
It always looked a little problematic; the concept seemed to revolve around Bogus Basin crowds paying Sun Valley rates, a formula that never seemed (here anyway) very promising, however pretty the landscape may be (and that it surely is). The Idaho Statesman reports, “As of mid-February, skier visits were at 27,000, leaving the resort with an operating deficit of $304,000 as of Jan. 23, more than the $133,555 deficit anticipated two months ago by Douglas Wilson.” Yeah, some of that is recession-based, but still. Once you sell off the real estate – that being the easy part, and even that not easy any more – how does it pencil out?
A lot of people will be puzzling over that for some time to come.Share on Facebook