Is it a harbinger of doom when the most glamorous ski club in the US files for bankruptcy?
It was reported today that the Yellowstone Club, an ultra-glam private mountain club in Montana was seeking protection from creditors as it scrambles to secure enough money to run its operations. The club is as high-end as it gets, with members like Bill Gates, a $250,000 membership fee and the requirement that you build a house on site when you join.
But I don’t think it’s that bad of a sign. First of all, it’s more likely a sign of the current business climate than people taking away their skiing dollars. But if if membership is down this year, the pool of people that kind of club draws is very small anyway and by no means representative of the general population.
My feeling is that the wee resorts near big cities, like Dagmar or Lakeridge near Toronto, are going to see increased ticket traffic this year as people reduce their destination trips and opt for a day out closer to home. But that doesn’t mean we’re losing people from the sports, it just means they are altering their spending habits. Yes, it will hurt the big dogs until this passes, but they have enjoyed boom years for most of this decade and if there’s anything about the economy that’s dependable, it’s its cyclical nature.
-KB
