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Resort Sale

Discussion in 'Falls Creek' started by hair-raiser, Dec 15, 2011.

  1. hair-raiser

    hair-raiser Hard Yards

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    Buyer inspections underway at the moment.
     
  2. snowduck

    snowduck One of Us

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    I can't afford it. Sorry
     
  3. TOFF

    TOFF Im kind of a big deal Ski Pass: Gold

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    Think Id rather buy a ski resort.
     
  4. Triangle42

    Triangle42 Hard Yards

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    Is this actually happening?
     
  5. teckel

    teckel Pool Room Ski Pass: Gold

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    #5 teckel, Dec 15, 2011
    Last edited by a moderator: Nov 14, 2013
  6. CarveMan

    CarveMan Pool Room Ski Pass: Gold

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    I heard the same. My source didn't know any details beyond that there was some 'action' on the sale front.
     
  7. hair-raiser

    hair-raiser Hard Yards

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  8. teckel

    teckel Pool Room Ski Pass: Gold

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    Looks like your OP was spot on!
     
  9. snowgum

    snowgum One of Us Ski Pass: Gold

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    A Sale may not be such a bad thing. There's quite a lot of stuff listed on the resort Plan inc Lift replacements in the bowl but based on recent years little will happen under LLA rule. I'd say Hotham would've be similar but not sure if it's up for sale.
     
  10. CarveMan

    CarveMan Pool Room Ski Pass: Gold

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    Re: Who is the company that owns the Hotham & Falls lift companies?

    The takeover bid has been lodged and recommended by the LLA board. Company is called Merlin.

    And I do not think Doonks is a wizard.
     
  11. skiflat

    skiflat Old n' Crusty

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    #11 skiflat, Dec 19, 2011
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  12. teckel

    teckel Pool Room Ski Pass: Gold

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    Re: Who is the company that owns the Hotham & Falls lift companies?

    Henceforth, Falls Creek is to be known as Legoland [​IMG]
     
    #12 teckel, Dec 19, 2011
    Last edited by a moderator: Nov 12, 2013
  13. teckel

    teckel Pool Room Ski Pass: Gold

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    #13 teckel, Dec 19, 2011
    Last edited by a moderator: Nov 14, 2013
  14. hair-raiser

    hair-raiser Hard Yards

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  15. PolePlant

    PolePlant Guest

    Re: Who is the company that owns the Hotham & Falls lift companies?

    Cheap passes would have pumped up the balance sheet prior to sale of the business.
     
  16. CarveMan

    CarveMan Pool Room Ski Pass: Gold

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    I've heard that the next cab off the rank for Hotham lifts are on the east facing terrain which opposite the top of Heavenly - ie the stuff on skier's left as you are heading from Heavenly to Gotcha (sorry don't know the exact name). There is also the possibility for another skier bridge from Summit to this area.

    I've also heard that Av Gully is a pipe dream.
     
    #16 CarveMan, Dec 19, 2011
    Last edited by a moderator: Nov 18, 2013
  17. CarveMan

    CarveMan Pool Room Ski Pass: Gold

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    Oh and there's also talk of a cafeteria/restaurant at the top of Heavenly.
     
  18. skiflat

    skiflat Old n' Crusty

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    Should have been done years ago!

    I think this year or last they put in some toilets there, and that was it ?

    Nice views
    Good location
    Saves the effort to head back to the Village when skiing the Orchard and surrounds!

    The hut at the bottom of Slalom Gully is worse than a take-away food van! [​IMG]
     
    #18 skiflat, Dec 19, 2011
    Last edited by a moderator: Nov 18, 2013
  19. Snorkler

    Snorkler Part of the Furniture

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    Re: Who is the company that owns the Hotham & Falls lift companies?

    Distinctly different type of company compared to all the RE developers the places have had as of late.
     
  20. CarveMan

    CarveMan Pool Room Ski Pass: Gold

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    Re: Who is the company that owns the Hotham & Falls lift companies?

    Yeah a theme park operator is interesting, I'm sure there's a lot of parallels with ski resorts.

    (Insert 'ski resorts are a circus' joke here)
     
  21. Doonks

    Doonks Let's cook! Moderator Ski Pass: Gold

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    Re: Who is the company that owns the Hotham & Falls lift companies?

    I had Merlin V's. Tough ski.
     
    #21 Doonks, Dec 19, 2011
    Last edited by a moderator: Nov 18, 2013
  22. CarveMan

    CarveMan Pool Room Ski Pass: Gold

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    Re: Who is the company that owns the Hotham & Falls lift companies?

    Was that the one with the 'brain' in front of the toepiece? Or the piezo LED?
     
  23. Doonks

    Doonks Let's cook! Moderator Ski Pass: Gold

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    Re: Who is the company that owns the Hotham & Falls lift companies?

    LED, for better vibration control. Was military technology, so obviously it worked!
     
  24. Bogong

    Bogong Part of the Furniture Ski Pass: Gold

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    Re: Who is the company that owns the Hotham & Falls lift companies?

    It's not surprising that LLA has been bought by a theme park / tourist attraction company.

    When LLA initially went bust a few years ago, Village Roadshow was sniffing around the vicinity. Village Roadshow own most of the Gold Coast them parks, as well as aquariums and tree top walks, so ski resorts would be a natural fit into a portfolio like that.
     
  25. Bogong

    Bogong Part of the Furniture Ski Pass: Gold

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    Re: Who is the company that owns the Hotham & Falls lift companies?

    A little further investigation reveals that Merlin bought a bucket load of attractions from Village Roadshow in March this year.

    Sydney Aquarium, Sydney Wildlife World and the Sydney Tower Observatory and Skywalk, as well as Manly Oceanworld in Sydney, the Hamilton Island Wildlife Park in Queensland and Kelly Tarlton’s Antarctic Encounter and Underwater World in Auckland.
    http://www.merlinentertainments.biz/en/p...es03032011.aspx

    They're also rolling out new theme parks across the world. It's hard to raise loans or capital in the current economic climate, so Merlin must be a seriously cashed up outfit. [​IMG]

    [​IMG]
     
    #25 Bogong, Dec 19, 2011
    Last edited by a moderator: Nov 14, 2013
  26. DJC

    DJC Hard Yards

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    Re: Who is the company that owns the Hotham & Falls lift companies?

    Well, as an owner at Mt Hotham, I hope this sparks some activity in Mt Hotham and PLEASE make it less expensive to ski to attract people back to the mountain to improve my occupancy rate which has fallen over the last few years from 90% to 30%!

    BTW my brother just bought a 13 day lift pass in Aspen for $580AUD - can't even compare Mt Hotham to Aspen and Mt Hotham is almost 3 times the price!

    AND $39.50 per day to be on the mountain - you are kidding!

    FINGERS CROSSED!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
     
  27. currawong

    currawong Old but not so Crusty Ski Pass: Gold

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    Re: Who is the company that owns the Hotham & Falls lift companies?

    or have they bought lla for the aquariums and treetop walks and will they only hold the ski resorts till they can on-sell them?

    let's hope they are serious about ski resorts. but even then i think they would probably be chasing families/beginners rather than experienced skiers. hope i'm wrong
     
  28. CarveMan

    CarveMan Pool Room Ski Pass: Gold

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    Re: Who is the company that owns the Hotham & Falls lift companies?

    Have you considered dropping your rate to meet the market? Hotham has with the season pass.
     
    #28 CarveMan, Dec 20, 2011
    Last edited by a moderator: Nov 18, 2013
  29. cqen2l

    cqen2l Part of the Furniture Ski Pass: Gold

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    Re: Who is the company that owns the Hotham & Falls lift companies?

    That's what I was thinking as well.
     
  30. davidr

    davidr Hard Yards

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    Re: Who is the company that owns the Hotham & Falls lift companies?

    the company is said to be successful in growing business when it makes a purchase - if this is true then they will need to invest to make it happen or lower prices - we will see where they spend their $$ and what their marketing will look like in due course
     
  31. Richard

    Richard Maintenance Dept Administrator

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    Re: Who is the company that owns the Hotham & Falls lift companies?

    Not a single ski resort in the Merlin portfolio elsewhere. It's likely the deal was a job lot or none - not bundling AAE in the deal would have left LLA with only one egg in its basket and consequently near worthless as a listed entity.

    Whilst ski resorts are not exactly themed attractions - there is probably more than enough crossover of management skills for it to be a reasonable match for Merlin.

    If one was going to dabble in ski resorts you would think they would pick a resort with more consistent snowfall seasons than Australia for a first buy - so it suggests to me that Merlin had to take the ski resorts with the Aquariums and Otway Fly.

    So it will be interesting is if Merlin dig in and give running ski resorts a go - or try to hive off AAE to another investor asap.
     
  32. davidr

    davidr Hard Yards

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    Re: Who is the company that owns the Hotham & Falls lift companies?

    its a bit of a worry that these are the first ski resorts - maybe they will be offloaded as its definetly not their core business

    But the golden rule in running lesiure business is that you need to build/offer something new every few years to keep a lot of people coming back (not your regulars) - to me that means new or improved infrastructure.
     
  33. hair-raiser

    hair-raiser Hard Yards

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    Re: Who is the company that owns the Hotham & Falls lift companies?

    A look at some of Merlin's corporate statements reveals that they are keen that all their attractions are "not dependent on weather". Link that statement with the view they have expressed that Falls Creek is the "poor cousin" in the LLA purchase and make your own assessment.
     
  34. davidr

    davidr Hard Yards

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    Re: Who is the company that owns the Hotham & Falls lift companies?

    But they have the opportunity to develop the resorts into year round destinations offering other activites - this has been growing in Australia - thredbo, buller and falls creek are doing ok at this and i assume thredbo is way out in front - you need to have some reason for people to go and there is some great activites in great locations and its growing.

    I assume they will offload it within a few years if its not core business. If they only tinker around the edges with marketing and $$ spent on infrastructure then I would assume they wont do much with the resorts. If they announce major plans and actually spend significant $$ in the next 2 to 3 years then we may see something different.
     
  35. davidr

    davidr Hard Yards

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    Re: Who is the company that owns the Hotham & Falls lift companies?

    I think they made over $5 million last year but i dont not what the ROE is to see if its good or bad

    I would assume the following though for out of ski season

    if you increase visitor numbers and overnight stays over summer then you get a increase in retail and hospitality and so more things are open.
    The lodges/units/apartments have a higher occupancy rate which is good for owners and encourages upgrades plus you need more staff on mountain which means more $$ in the economy on the mountain and surrounds.

    i assume the costs are less as you are not running lifts/ski patrol etc

    its cheaper for the visitor to come - you can walk, ride bikes for almost free etc or do organised activites

    I know that our mountains dont compare with canada we dont have a train in the region and but they get many more tourists out side of ski season
    but our mountains are really good in and out of ski season - the "product" is available but it just needs to be marketed correctly and make sure that the experience is good for the cost
     
  36. currawong

    currawong Old but not so Crusty Ski Pass: Gold

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    Re: Who is the company that owns the Hotham & Falls lift companies?

    the (current management of ) lift co has seemed hostile to fcrm spending money on promoting summer activities. they do not see summer as a promising revenue source for themselves.

    i think falls has to increase summer visitation, but i don't expect the lift co to be a major force in driving this. unless they invest in stuff taht woud have significant summer returns, or can see a way to make it economically viable to run a chair (for mtb, sightseeing, walking) for more that a week or so of summer peak.
     
  37. Bogong

    Bogong Part of the Furniture Ski Pass: Gold

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    Re: Who is the company that owns the Hotham & Falls lift companies?

    Actually there is a spectacular train 10 km away. It's not running at the moment, but the tracks are kept in good condition and most bridges were repaired after the 2003 fires. The engines and trucks are on site and it would be cheap to get going again, if there is a market for train rides or some volunteer train fans want to take it over...

    My fantasy is using it as fairly easy access to Mt Bogong in winter, but I reckon the summer market would be reasonable, IF Falls Creek started seriously marketing itself in summer the way Thredbo has been for the past 50 years.
    [​IMG]
     
    #37 Bogong, Dec 21, 2011
    Last edited by a moderator: Nov 18, 2013
  38. davidr

    davidr Hard Yards

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    Re: Who is the company that owns the Hotham & Falls lift companies?

    do you have a map location for the train - this is exactly they type of thing that could work - there are quite a few tourist trains running around australia but it requires a dedicated group of volunteers - i dont think that they make much money as i heard that puffing billy is struggling


    thredbo do well because the have the chairlift running with access to some great walks
    you also have the golf course and sports centre etc
    but they have invested in these things - so it requires the vision and the investment
     
  39. teckel

    teckel Pool Room Ski Pass: Gold

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    Re: Who is the company that owns the Hotham & Falls lift companies?

    A theme park for Falls Creek! [​IMG]
     
    #39 teckel, Dec 22, 2011
    Last edited by a moderator: Nov 12, 2013
  40. ODNT

    ODNT Part of the Furniture

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    Re: Who is the company that owns the Hotham & Falls lift companies?

    hope they do something. gettin a bit tired falls. (around bowl area ) bottom village ok though. something to build from.
     
  41. Bogong

    Bogong Part of the Furniture Ski Pass: Gold

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    Re: Who is the company that owns the Hotham & Falls lift companies?

    Davidr. The train leaves the High Plains Road 1½ km north of Bogong Village and heads north east towards Mt Bogong for 8 km. The line used to extend 2 km further, almost to Bogong Creek Saddle but a landslide took out a bridge over a small creek and that section was never rebuilt, although the unused track and sleepers on that last section are mostly still in place.

    The feeling is similar to the restored Walhalla Goldfields Railway, but with stunning close up views of Mt Bogong. These pictures are typical of the line.

    [​IMG] [​IMG]

    and this is a picture of the line's snowplough. [​IMG]

    [​IMG]

    There is a photo gallery with 92 pics of the line taken in 2011 here: http://pics.steamfreak.com/thumbnails.php?album=247
    http://www.bing.com/maps/?FORM=Z9LH3#JnE...S43Njg0MTczNTc1
    No one has put a map of it on the internet BUT it is shown as a blue line on Bing Maps: http://www.bing.com/maps/?FORM=Z9LH3#JnE...S43Njg0MTczNTc1
     
    #41 Bogong, Dec 22, 2011
    Last edited by a moderator: Nov 14, 2013
  42. davidr

    davidr Hard Yards

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    Re: Who is the company that owns the Hotham & Falls lift companies?

    teckel - probably be a legoland and aquarium etc etc

    thanks for the pics bogong - i went into a section of the hydro scheme in the early 70s which was above the snowline - we just turned up I think - i doubt that you can do it now
     
  43. currawong

    currawong Old but not so Crusty Ski Pass: Gold

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    Re: Who is the company that owns the Hotham & Falls lift companies?

    the structure of ownership /management at falls is very different to thredbo.

    AIUI at thredbo one company has a head lease and everything is run by them or sub-let by them. this means that the holder of the head lease can invest in all manner of things to improve overall visitation and improve returns.

    in vic the resorts, including falls, are run by gov appointed boards of management. the board runs the resort but individual lease-holders run businesses independently. the biggest of these is the lift co. the lift co owns a bit of accommodation but not much. they own some food & bev outlets but have outsourced them. they do run the ski school and many of the shops selling & hiring gear & clothes. the lift co is not well positioned to make money from investment in the village overall. the resort mgt board makes money from entry fees and from fees from lease holders. they are under pressure to keep these fees down. they don't have much in the way of fee for service products where they can generate revenue. (they currently have the oversnow service but that is to be outsourced too.)
     
  44. ODNT

    ODNT Part of the Furniture

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    Re: Who is the company that owns the Hotham & Falls lift companies?

    would be fair to say that falls & hotham be behind the 8 ball in this set up. Like someone already said, the sale may be to free up funds for the development of perisher. And the other thing is there may be more competition with perishers ties cut from the vic resorts.
     
  45. davidr

    davidr Hard Yards

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    Re: Who is the company that owns the Hotham & Falls lift companies?

    i forgot that there was this split in the arrangement which is a problem
     
  46. Charlie

    Charlie Still the most depraved poster here Ski Pass: Gold

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    Re: Who is the company that owns the Hotham & Falls lift companies?

    Totally different again at Baw Baw, where the ARMB own accommodation and food outlets, and are in direct competition with clubs and the one remaining private food and accom provider..............me!
     
  47. hair-raiser

    hair-raiser Hard Yards

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    Re: Who is the company that owns the Hotham & Falls lift companies?

    I always enjoy hearing the advice of non, or very small, business owners opining on how "best to do it"'.
     
  48. teckel

    teckel Pool Room Ski Pass: Gold

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    Re: Who is the company that owns the Hotham & Falls lift companies?

    Lake Mountain have a complete monopoly. Everything is controlled by the rmb.
     
    #48 teckel, Dec 22, 2011
    Last edited by a moderator: Nov 18, 2013
  49. teckel

    teckel Pool Room Ski Pass: Gold

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    Re: Who is the company that owns the Hotham & Falls lift companies?

    Merlin are pretty imaginative. Q Who can make an English castle financially viable these days? A Merlin

    Warwick Castle was bought by Madame Tussauds, and then Madame Tussauds was bought by Merlin

    [​IMG]
     
    #49 teckel, Dec 23, 2011
    Last edited by a moderator: Nov 12, 2013
  50. Charlie

    Charlie Still the most depraved poster here Ski Pass: Gold

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    Re: Who is the company that owns the Hotham & Falls lift companies?

    of course Merlin would make an English castle viable
    Think Camelot!