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SAM Magazine-Londonderry, Vt., June 29, 2009-Magic Mountain is selling shares of the mountain, offering ownership opportunities to the resort's skiers, snowboarders and enthusiasts. Modeled after the Mad River Glen ski area co-op, the move aims to increase customer loyalty and fund significant upgrades to the resort.

The resort is establishing an LLC and issuing 1,000 shares priced at $3,000 per share. The new shareholders will own 60 percent of the mountain and receive season pass discounts, reduced ticket prices, and voting rights in operational decisions as a result of their equity position.

"After reviewing the success of Mad River Glen, we realized that we had a tremendous opportunity to allow loyal fans of Magic Mountain to invest in something special and participate in saving and reviving a classic Vermont ski area," said Jim Sullivan, president of Magic Mountain. "In addition, this offering makes perfect business sense from a capital growth perspective in this current economy where it is difficult to garner support from large investors."

Magic hopes the offering will raise $3 million over the next few years and fund upgrades of its snowmaking, lifts, grooming equipment and the main lodge. Sullivan told SAM he would like to sell about a third of the shares within 60 to 90 days, and half within the first year. Initial interest, he said, has come primarily from local property owners and season passholders.

Magic Mountain is hosting an open meeting about the offering on July 5 at the Magic base lodge. Potential shareholders will meet owners and managers face to face and have the chance to ask any questions they might have. Details of the meeting are available at magicmtn.com/alpineupdates.php.