*By Jamie Anderson
August 16, 2016 Londonderry, VT— SKI MAGIC LLC announced today it had concluded a signed purchase and sale agreement with current title holder Magic Mountain Management, LLC. The newly formed Ski Magic LLC, will purchase all the property and assets of the 709-acre Magic Mountain Ski Area in Londonderry, VT for an undisclosed amount.
Unofficial Magic History
Magic Mountain is a throwback Vermont ski area best known to for its amazing terrain and radical uphill policy. That uphill policy actually allows volunteers to cut their own glades and make their own runs. Originally founded by Swiss ski instructor Hans Thorner, the ski area was based on a Swiss Village and prospered in the 1960s and 1970s.
Related: Rent This Entire Ski Resort For Just $2,500 | Only 3 Hours From NYC
However, Magic hit hard times in the late 1980s and was eventually shut down for a number of years in the early 1990s. Magic re-emerged in the 1997-98 season but the ski area was often under-funded and struggled to gain traction.
In recent years, Magic has developed a dedicated following of local skiers looking to escape the crowds, high end condos, and shopping villages that define nearby resorts. Despite the mountain’s growing popularity, the need for additional capital to jumpstart the ski area quickly became apparent in recent years.
“Season passes will go on sale as soon as the ownership transfer legally takes place in early October.” – Magic Mountain Ski Area Facebook Page
Lifts struggled to pass inspection, snowmaking continued to decrease, and the lodge began falling into disrepair as a complex ownership structure crippled the resort’s lending capabilities. Eventually a co-op concept was adopted but failed due to legal and administrative issues. The ability to open became less and less certain each season but thankfully, SKI MAGIC was formed to solve these problems.
Who are the New Owners?
According to SKI MAGIC’s President, Geoff Hatheway, the investor group is comprised of Magic’s long-term skiers and riders who share a desire to make the mountain viable while maintaining what makes Magic… well… magic. In addition, they have also received support from other New Englanders– primarily Dartmouth Alumni who share a desire to make an East Coast classic thrive.
“This is an exciting opportunity for long-time fans of Magic, including myself, who want a better, stable and enduring future for such a special ski area and community… That means an operational focus on lifts and more snow-making” – Geoff Hatheway, Ski Magic President
Bottomline, these folks aren’t real estate developers or private equity investors. Rather they are a group of successful business people who are looking to carve out a niche and turn a mountain they love into a financially sustainable business.
Future Plans…
According to Mr. Hatheway the next step is to move from a signed deal to a closed deal. However, the agreement contains provisions that allow the new entity to begin preparations for the 16/17 season. These preparations are expected to include the lift and snowmaking repairs necessary for a successful opening. Over the long-term SKI MAGIC hopes to deliver improved reliability, expanded beginner lifts, and various terrain enhancements.
Mountain Stats
- Annual Snowfall – 150″
- Vertical Drop – 1700′
- Skiable Terrain – 195 acres
- Lifts – 4
- Trails – 43
- Snowmaking – 70%
Find more information and the official press release here: Magicmtn.com