The receiver is currently funded "to preserve the equipment from deterioration," putting the 2018-19 ski season in jeopardy.
This decision tells us a lot about the state of things. The receiver has access to a lot more information than the press, the public and membership. The receiver also has millions of dollars at stake. They are limiting their funding to preservation rather than operation for the upcoming ski season.
If the club isn't open for skiing this season, the value of everything drops precipitously. Members will flee. Property values will drop. Reputations will suffer even more than they already have. It would be very hard to see them getting the thing up and running again. Yet, the receiver sees this as a BETTER outcome than opening for skiing this season. This tells you a lot about their view of the numbers and the plan that has been put forth by the new management.
This is further evidence that the club has not developed a plan that shows the club can be run in a sustainable way. Some have stated in comments here that it is impossible to run it sustainably. I still don't know if that's the case but it's looking more and more like it is. The founder was obsessed with growth, acquisitions and new development projects. Perhaps this was necessary to make the club sustainable but, to me, this reflected a form of ADD where the club was always focused on the next thing. Of course, the new management team studied the situation and came up with a similar plan, looking to double down on the idea of building a new hotel. This had to be discouraging to the receiver. This club needs a management team that needs to be honest with the receiver and with membership. Can this thing operate with a budget funded by X members paying Y dollars? If this can't be articulated, they might as well call the whole thing off.