Confused about what?I think you and others are a little confused - KSL Resorts operates/owns Camelback, which is nothing new, while KLS Capital Partners is the co-owner of Alterra along with Henry Crown & Co.
Confused about what?I think you and others are a little confused - KSL Resorts operates/owns Camelback, which is nothing new, while KLS Capital Partners is the co-owner of Alterra along with Henry Crown & Co.
On a slight tangent, anyone know something about Montage?
I have been waiting for the mid Atlantic onslaught by KSL and or Vail. IMHO this is the first of many to get assimilated. Stay tuned.
Timberline and Greek Peak please. Elk optional.
So, here is what I found out about Camelback:
KSL purchased everything, except for 2 restaurants, for $248 million.
They plan to stay on the Camelback pass for this year.
Oh, but wait...there is more. Camelback was losing money on payroll, so KSL did a lot of consolidation (marketing, etc). They also required all Camelback employees to take a drug test - and 400 of them failed - so there were firings.
I think you and others are a little confused - KSL Resorts operates/owns Camelback, which is nothing new, while KLS Capital Partners is the co-owner of Alterra along with Henry Crown & Co.
Accidentally, lol! I honestly didn't look past the letters KSL.THIS.
They are two different companies. Look up the websites. I don’t know how I originally missed this. Sorry, @LKLA !
So, while my post about Camelback’s purchase and firing of 400 employees is correct, what is NOT correct is that the purchaser is KSL Capital Investments. It is KSL Resorts, which owns a bunch of beachfront properties in Honolulu, etc. which is why @Jenny ‘s post about the purchase on Macinack Island makes sense.
So, here is what I found out about Camelback:
KSL purchased everything, except for 2 restaurants, for $248 million.
They plan to stay on the Camelback pass for this year.
$248 million can't possibly be right, can it? Camelback was sold for about $70 million in 2013. I doubt it's appreciated that much.
Even accounting for properties, waterpark, lodging, etc. that sounds like a very high number for a small, though busy, resort. Given that Whistler was $1B (or less than 4 times as much) just a couple of years ago. And that Jay Peak is looking at getting something like 1/4 to 1/2 of that (though there are other issues there).
I find the whole thing confusing. Are KSL Resorts and KSL Capital Investments related, or not?
I would like to know.I know some things about Montage, but I don’t know if they are the things you want to know.
So, here is what I found out about Camelback:
KSL purchased everything, except for 2 restaurants, for $248 million.
They plan to stay on the Camelback pass for this year.
I would like to know.
Bummer, if true, that Camelback won't be on the Ikon pass. That would have been a reasonable break point for a partial day of skiing heading out and returning for a VT/NH road trip from Maryland.