Go tell it on a mountain.
Home
NEW TIMBERLINE NEWS
20 posts from 13 users
Updated 12 days ago
5,384 views
Jump to Newest Post
2 months ago

Timberline is now officially for sale, o’clock-stoc ad barrel,  as per an announcement by the owners, all assets included, everything!!!!  FRED HERZ BIDS FAREWELL.  From Ski Area Management magazine:

SAM Magazine—Davis, W.Va., July 24, 2019 —”Timberline Four Seasons Resort is initiating the sale process for substantially all of the resort’s assets. Timberline commenced voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the Eastern District of Pennsylvania on April 30, 2019, and expects to sell the company’s assets pursuant to Section 363 of the Bankruptcy Code.
See SAM’s recent report for background on what led to Timberline Four Seasons’ status.

Fred Herz, Timberline president, said: “We are incredibly grateful to have had the opportunity to purchase a raw mountain in Tucker County, West Virginia, over 30 years ago and grow it into the premier destination for mid-Atlantic and southeast skiers.”He continued, “After some challenging seasons, our family has chosen to exit its investment in West Virginia in cooperation and consultation with Griffin Financial Group,” which is serving as investment banker for the sale. “We believe it is the right time to pass Timberline on to new ownership.”

Assets included in the sale process and available to potential buyers include:

- the full ski resort operations
- all equipment and facilities associated with the ski resort—lifts, snowmaking equipment, 24,000-square-foot lodge, 20-room hotel, rental inventory, etc.
- real estate assets of more than 430 acres, including ski terrain, the base area and hotel, approximately 222 acres of development land adjacent to the mountain, and ski-in/-out residential property plots.

Ciardi Ciardi & Astin and Bielli & Klauder are serving as legal counsel.Interested buyers should contact Griffin Financial Group at zlc@griffinfingroup.com.”

Interesting…

MorganB aka The Colonel

2 months ago

Well.  OK.   It’s way past tiem for this to happen.

Sure hope this will work out well for the mountain, the valley, those who live in the area, and for all of us who would enjoy a modern, well-run ski area on this great WV mountain.

Thanks, Colonel, for the update.

Woody

2 months ago

I know it would take a massive miracle to open the resort this year for skiing (in any fashion), but is there any hope of someone coming in to buy the whole operation, invest some much needed money into improvements and open next year or the year after?   As has been discussed so often on this forum (and many others) it is has the potential to be a great ski resort with great terrain, a beautiful location, lots of reasonable housing options (esp for larger groups/families), easy access, etc..   Had so many great times with our kids on family trips and trips with their church youth groups that I hope we can have similar ones with our grandchildren at Timberline.  

2 months ago

I predict…..that the current owner is asking WAY too much money for a rundown ski resort. No one buys it, the creditors get tired of waiting for their money, and the place gets auctioned off. Someone with cash swoops in and gets the whole mess for a song. Just a matter of time.

2 months ago

Your prediction is correct as the currect asking price for Timber…try to line my pockets…line Ski Resort is $32,000,000.00…that’s right folks, thirty-two million doll hairs.  I am going out on a limb and predicting that there is some room for negotiation on the asking price.  Hope everyone is having a great summer and looking forward to an even better winter sports season.

2 months ago

Your prediction is correct as the currect asking price for Timber…try to line my pockets…line Ski Resort is $32,000,000.00…that’s right folks, thirty-two million doll hairs.  I am going out on a limb and predicting that there is some room for negotiation on the asking price.  Hope everyone is having a great summer and looking forward to an even better winter sports season.

2 months ago

It doesn’t matter about them listing it for sale.  Too late.  The chapter 11 bankrupcy was just converted to chapter 7 on friday by the bankrupcy court due to the owners inability to file timely reports and pay the required fees.  It will now go to the highest bidder on the courthouse steps in Parsons.  I understand that there are several, with deep pockets,  interested in getting it as a ski area.   

one month ago

I heard last night it was bought by a company that starts with the letter “V”     

one month ago

and ends with “acant”?

one month ago

chaga wrote:

I heard last night it was bought by a company that starts with the letter “V”     

One can hope!

one month ago

Any more details on the sale of the resort. I recently looked at the area on Zillow and noticed a huge number of homes for sale. 

one month ago

chaga wrote:

I heard last night it was bought by a company that starts with the letter “V”     

Val-d’Isère???

 

I bet it’ll serve the absolute best french fries, too.

one month ago

bob wrote:

chaga wrote:

I heard last night it was bought by a company that starts with the letter “V”     

Val-d’Isère???

 

I bet it’ll serve the absolute best french fries, too.

Non. Val Gardena. Let them eat pasta.

one month ago

johnfmh wrote:

bob wrote:

chaga wrote:

I heard last night it was bought by a company that starts with the letter “V”     

Val-d’Isère???

 

I bet it’ll serve the absolute best french fries, too.

Non. Val Gardena. Let them eat pasta.

Oooooh, I hope they install some camel humps. Absent that, a clone of the dantercepis chair would be nice.

one month ago

One of the four finalists will end up with the place for a really good price.  Should know something by the end of October if not sooner.  

 

one month ago

Thanks for the update kwillg6 - any details on the four?  Is there a news release?

one month ago

kwillg6 wrote:

One of the four finalists will end up with the place for a really good price.  Should know something by the end of October if not sooner.  

 

I am one of the surprise finalists.  I just bougth a Mega Millions ticket and have 192$million.  #bucketlist

https://www.megamillions.com

23 days ago

kwillg6 - I have the same dream!!! 

13 days ago

Everybody is wanting to know who, what, when, where… but the why is the major question. There are big names inthe background of this move and it would be enough to capitolize the best mountain in the mid-atlantic.  Just hold your britches and be patient.   

12 days ago

Wondering - IDKS -   To bring Timberline up to standards what is the ball park? Lifts alone and snowmaking are expensive. Then a new lodge. Canaan put in 2 new pumps and 10 new fans. I do not see how  late in fall if any real improvments can be ready for new season. Permits, funding, logistics. You can bring in rental fans and compressors. Can do lift maint and paint but hard to do anything for this season. A good 5 year plan is needed.  Over the 20+ years some resorts have been and will be under capatilized. I know of 2. 

Ad: Massanutten Resort

Sharpen your edges. And pencils.
If you'd like to share your own comments, please log in to DCSki.
Don't have a profile? Create one here.
Page load time: 0.21 seconds