"If more ski areas were owned by their user group, instead of private equity firms, publicly traded companies and wealthy individuals whose main priority is turning a profit, that would greatly help breathe some soul back into our spot."
There are over 400 ski areas in the US today. That means there are plenty of resorts - the vast majority - that can have "a membership type of ownership" as you propose. As to why that is not the case, I am not sure, but it seems to have little to do with private equity firms.
There are sayings like charge what the market will bare, or that supply and demand dictates pricing, or the market will tell you the price. Everyone has a right to make a profit on their investments, be it a PE firm, a publicly listed company or a private individual.
Ski resorts are selling for millions and millions requiring very deep pockets. In many cases the capital expenditures and maintenance (including real estate taxes) are astronomical and make owning a ski resort even more challenging. That is before dealing with increasingly unpredictable weather conditions. Skiers across just about every demographic, ability level, price point...want bigger and better and more abundant amenities / comforts / features.
So it comes as no surprise that publicly traded companies like Vail Resorts and Peak Resorts or wealthy families like the Crown family or investment firms like private equity company Och-Ziff and real estate investments trust KSL Capital are some of the more common players in the recent consolidation taking place around the industry. They have the financial means and operational leverage to acquire the resorts, invest in them and make a profit.
I appreciate your comments around the 'soul' of a resort and I guess the lack of personality/character that often comes with a resort being owned by "large owner". I too tend to prefer resorts with "personality".
Ski resorts remind me of the situation we are facing with colleges/universities. Everyone seems to want D-1 sports teams, campus-wide wifi, organic food offerings, dual-climate zones in dorm rooms, renowned professors, spin and yoga studios, Segways to get around campus...so tuition fees are now regularly surpassing $50,000 and in many cases well over $60,000.
Interesting window into the business side. Thank you. A little out of my paradigm but I can only hope that there is an attempt to reach out to local ski clubs and incorporate their ideas to address #2 (Grow Participation). Also possibly reaching out to the NBS (