Alterra needs transparency
I have been fortunate to attend Winter Park Recreational Association (WPRA) board of directors meetings at the prestigious Brownstein Hyatt Farber Schreck law firm in downtown Denver.
Reorganization and consolidating in the U.S. ski industry vis-a-vis Alterra Mountain Company (Alterra) definitely influence the City and County of Denver, Winter Park and the State of Colorado.
WPRA is an entity under the control and ownership of Denver. It is in charge of overseeing the Winter Park Resort at Winter Park.
When Alterra, a joint venture of KSL Capital Partners and Henry Crown & Company, bought Intrawest Resorts Holdings (Intrawest), it took over the ski resort operator lease agreement of Intrawest for Denver’s beneficial financial, revenue, and government interests.
At this very moment the Denver public is led to, perhaps, believe through mass media reports and coverage that all is well for their best interests through the Alterra management team. However, nothing can be further from the truth for the Denver government’s imperative annual sound legal budgetary practices and considerations.
Remember when General Motors used to say, “What’s good General Motors is good for America”?
Well, in 21st Century America what’s good and honorable for Denver is good for Winter Park and the Colorado ski industry.
The WPRA asked and expected Alterra to hand in three years of future capital budget reports. Long overdue to do such, Alterra finally presented only one capital budget for the coming fiscal year.
Furthermore, Alterra was asked to deliver a revenue audit by the end of September so money can be given on time to Denver for its yearly budget and accounting practices. Alterra told the City it cannot do it.
Something else to consider is how Alterra fails to straighten out its inherited California corporate affairs by untangling and cancelling the Intrawest business filings in Sacramento, California for the benefit of WPRA and Denver.
If Denver’s revenue, budget and governing operations remain threatened and negatively influenced by such Alterra thinking and behavior, surely there will be bad fallout for Winter Park and the Colorado ski industry which also can become detrimental for the U.S. ski industry at-large.
Emzy Veazy III
Aspen and Burbank, California