Photos courtesy RED Mountain
Earlier this fall, news broke about a number of ski resorts being sold, including a package deal of more than a dozen acquired by New York-based hedge-fund manager Och-Ziff that included Washington’s Summit at Snoqualmie and Stevens Pass and Colorado’s Crested Butte. As part of the multi-layer deal, Missouri-based EPR also acquired a number of resorts including Northstar in California.
In what seemed simultaneous, North America’s most prolific ski resort, Whistler Blackcomb, was purchased by Vail Resorts for more than a billion dollars. While Whistler has already become the largest ski resort in North America, the acquisition was still met with some opposition from the local community, as a change in ownership meant uncertainty for residents who have built their livelihood around the current operation.
In the midst of all this, RED Mountain, a small privately-owned ski and snowboard resort located in the British Columbia interior, in the snow-packed Monashee Range not far from the US-Canada border, also went up for sale.
However, RED wasn’t going up on the auction block to be sold off to the highest corporate bidder. No it was taking a different and unique path, opening itself up to crowdfunding with a unique twist. Not only would the crowdfunding be seen as a way to infuse capital into a small privately-owned resort, it would also make anyone who invested a partial owner.
Since I was a child I’ve dreamt of owning my own resort. It was a perpetual daydream, something I would fantasize about while any number of high school teachers droned on about whatever subject they were dispassionately teaching. I would sketch out jibs and jumps on the back of notebooks and picture myself slashing deep pillows of untouched powder with a handful of my best friends.
I know I wasn’t alone in these childhood fantasies and when I first watched Ken Block’s own version come to life in the DC Mountain Lab videos, I started to think that maybe it wasn’t impossible to achieve, although it did help if you had millions of dollars at your disposal.
As I grew older and found myself lacking the necessary funding to have my own shred paradise, my dreams started to dissipate, owning a resort seemed like something that only happened in movies. And while I would often think of weird schemes and ploys to somehow shift the absurd into reality, I mostly just found contentment wetting my beak at wonderful resorts like Mt. Baker and Stevens Pass.
Speaking of my beloved Stevens Pass, it was one of the resorts purchased. Stevens, while being owned by a corporate entity every season I spent there, never felt corporate. Development was minimal, there was no onsite lodging and the cafeteria wasn’t serving caviar and Moet. Steven’s somehow always maintained a small resort feeling, regardless of its ownership, so while groups like Vail Resorts are known for their aggressive development, not all corporations are trying to turn ski areas into the mega family fun zones that we have seen pop up in Colorado and Utah.
The jury is still out on how the acquisition of Whistler Blackcomb by Vail Resorts will really affect the already-mega resort, which had existing plans for $345 million dollars in development when it was purchased. The Vancouver Sun recently reported that Vail Resorts will cut the price of a season pass in half, as they have had success in the past with offering less expensive season passes at other areas. However, like most mergers of this scale it also came with some layoffs, as Vail Resorts recently laid off an estimated 60 Whistler Blackcomb employees because their positions were already filled by employees in Colorado.
In the past when Whistler Blackcomb has been owned by large corporate companies, (which it has), the corporate interest has struggled to make decisions that took into consideration the local community as well as the bottom line. Vail Resorts is a publicly held company and the recent layoffs are surely reminiscent of bygone eras for Whistler residents.
“I think it’s too early to really tell how Vail is going to operate Whistler Blackcomb,” Leanne Pelosi, a Whistler-based professional snowboarder told me. “But I do know that our local community is on edge about it.”
“I have faith in our opinionated and powerful community though, and if anything goes sideways, we will speak up,” Pelosi continued. “I just hope that they do cater to the community of Whistler and they don’t just look at the bottom line.”
When RED Mountain announced plans to open ownership of the resort to the public I was initially intrigued, but I wasn’t sure I had the resources or desire to be involved. As I learned more about the project I realized my dream of resort ownership might actually become a reality, and while claiming to be a resort owner certainly wouldn’t hurt my dating life, it’s actually a great investment and also represents my personal ethos.
I don’t think that corporations are necessarily going to ruin the resort industry or greatly impact the consumer, as the price of entry for becoming a skier or snowboarder is already absurdly high. But I do think that the corporatization of resorts has a profound impact on the local community and culture. I like the idea that there are scrappy, privately-owned resorts fighting to preserve the roots and culture of the mountain lifestyle, and I’m honored to have a chance to play a part in that preservation.
RED Mountain’s public funding initiative has raised over $5.5 million thus far, leaving them 57 percent funded. While 10 million dollars may seem like an ambitious goal, given that it has reached the halfway point—only a small fraction of the billion-plus dollars that Whistler sold for—the 10 million suddenly feels feasible.
Most of us got into snowboarding and skiing because we’re drawn to outdoor adventure and the free-spirited lifestyle that accompanies our favorite activity. Owning a piece of a mountain not only satisfies one of my lifelong ambitions, it helps protect and harness the true spirit of riding snow, and what I love most about the pursuit.
While my humble investment in RED isn’t going to make me rich or save the mountain, it makes me a part of a large community of outdoor enthusiasts and entrepreneurs that are more invested in the spirit of community than the bottom line. And while RED’s future is still very much up in the air, I’m proud to be a part of this bigger movement, one that shows very plainly, that as lovers of snow, we value that lifestyle much more than any possible corporate development.
Visit RED Mountain’s crowdfunding page, here.
