The premise that these resorts will be focused exclusively on the upper class is completely clueless with regard to the Cali4nia Pass resorts. Mammoth has hosted two NASJA annual meetings during which Rusty Gregory addressed the journalists and took questions for over an hour. In 1999, just after Intrawest invested in Mammoth, the message was all about how Mammoth was going to become the next great destination resort with the airport and Village development. We all know how that worked out. In 2013 Rusty said Mammoth is focusing on its SoCal customer base, striving to get skier visits back up to the near 1.5 million of 2005 and 2006. I'm sure Rusty told the Starwood private equity owners in 2014 (who were looking for an exit, not to put more money in) that they HAD TO BUY Big Bear when it was up for sale to keep it away from Vail potentially siphoning off Mammoth's future customers.
There's no way Aspen/KSL bought Mammoth with intent to sell Big Bear. Big Bear does 800K visits in its own right vs. maybe 1.3 million at Mammoth, so it's far from chump change. The bottom line is that Mammoth is and always will be a 80+% weekend regional resort because it's just too much of a PITA to reach from points east. That specifically means that most customers drive up, which allows them to be sensitive to both price and current ski conditions. Any property that does 2 million skier vists per season has lots of value. But the Intrawest/Starwood years demonstrate that it's a fool's errand to try to transform Mammoth's underlying culture/customer base. And Aspen at least is giving lip service to preserving the local culture of the recently purchased ski areas.
It is also worth mentioning that according to someone in the know, the Big Bear Resorts serve close to 40% minorities, including about 15% Asian. The Big Bear Resorts are excellent feeder hills for Mammoth Mountain.