Suginohara may be closing - any bidders?

[myokoguy]

Got some info from a well-informed source that this ski area may be closing after this season. Certainly hope not. Anyone out there interested in being part of a buy-out consortium just let me know!

[brel]

That would be pretty disappointing for the Myoko area....I thought it was owned by one of the larger companies!

[myokoguy]

That's part of the problem Brel - it is by one of the larger companies (Prince/Seibu) and, like lots of other big Japanese corps, they have been bleeding red ink for years. Needs a new and tighter group with a local focus and a bit of entrepreneurial flair to take it on. I think it could do well with the right people running it and without the debt overhang it has now.

[tetkonjp]

That's part of the problem Brel - it is by one of the larger companies (Prince/Seibu) and, like lots of other big Japanese corps, they have been bleeding red ink for years. Needs a new and tighter group with a local focus and a bit of entrepreneurial flair to take it on. I think it could do well with the right people running it and without the debt overhang it has now.

I heard that they have wanted to pull out for some time, but the govt requires them, since the resort is on public/national park land, that it be restored to "original conditional". Since it is cheaper to continue to bleed a little than bleed alot, they keep opening.

I hope the keep on. It's only 15 minutes from my cabin in shinanomachi and I love the long wide runs.

scott

[myokoguy]

Didn't know that about restoration  Interesting. They just pulled out the last of the lifts from Tsubame Onsen last summer. They could however just walk away too and leave the city with the bill. Be a real blow to the local community. However, hopefully there might be a buyer in the wind. The resort has real name recognition and would turn a profit if run by a better entity with less debt.