Most of the customers stated that they were thinking of pairing back their season for financial reasons. Destination resorts seemed to be big losers, with the following reasons:
1. Cost of airline tickets has gone up significantly
2. Cost of flying with gear has gone up
3. Most resorts have pushed their pass prices up again
4. Their stock portfolios have sunk radically
Which brought a renewed interest in the local resorts. Several folks were asking if it was worth buying a season pass, and just driving up. How long the snow stays fresh, etc. It’s been interesting. Could this year see the rise/return of the local resort vs the destination resort?
I’m conflicted on this one. On one hand, having a larger money flow in for classes would be a nice change (I currently just brake even for teaching, which is why I have two jobs). On the other hand, it will mean larger crowds, and less fresh snow for me. Tough call.
As an aside, most of those mentioning #4 as their primary reason for skipping their trip(s) were shocked to hear our responses. Several of us have been playing the stock market for awhile and have invested heavily. Two of the guys in the shop are working there because they’ve already made their millions and now want to do something fun and rewarding. It’s was fun to break people’s perceptions of 20/30 somethings with a ski job not knowing anything about stocks.
I won’t get too political but more than one person at Brian Head has mentioned that Barack Obama will be horrible for the ski industry. It is evident that prices are so high that only the affluent can afford to ski. Certainly only the rich can afford condos and second homes at ski resorts.
Barack talks about raising taxes on the “rich” making more than $250k per year. That is going to cause them to cut back on the ski resort homes and on their vacations. We have to keep in mind that skiing is a luxury item and it is the kind of thing that can be eliminated in bad economic times or when taxes/gas prices/airfare/etc. go up.
I am selfish. I own a second home that will not sell at Brian Head. The housing market is in the tank. Stocks are down. The economy is slowing. I am scared that I will not be able to sell my condo after Obama is elected. And he will be elected based on everything we now know.