The Hermitage Club having a postive effect
The Hermitage Club is bringing new members from outside the Deerfield Valley.
Factually, The Hermitage Club at Haystack Mountain is probably more of a benefactor than a competitor to Mount Snow.
Our data shows that roughly one-third (33 percent) of our members are coming from outside the Deerfield Valley and that percentage is growing. They are coming to the area for the first time prompted by our extensive advertising, but more importantly and significant, our existing Members are bringing up friends and family to check out and experience the club at an astonishing rate. Most of these prospects have young families and have gone the seasonal rental route the last two to three years at Stratton, Bromley and Okemo including mountains farther north in Vermont as well as New Hampshire and Massachusetts.
Several have also visited the ultra-expensive option of Yellowstone Club in Montana but have decided on a 2 to 4 hour car ride versus a long flight. One thing that they all have in common is they have all lamented the status quo and are excited to have the option to ski great terrain without a lift line. This isn't an inexpensive option at $35,000 to join plus $4,900 per year for dues, however they are clearly finding the value in this offering. This dynamic carries true in real estate sales as well. These same new members are wanting to be on site close to the amenities and without the need to drive their car to go skiing.
As it relates to Mount Snow, were seeing that at least a third of these new families in the valley will also want to ski at Mount Snow and some are considering season passes. The Hermitage Club is hardly a competitive threat once the facts are on the table. Once one understands the true and accurate effect this new increase in local spending has on the overall economy, the more one understands it's all new found money ... to everyone.
Bringing new spending and increased tax base to The Deerfield Valley can only be a good thing for all business owners who support the second home vacation market not to mention budget challenged town and state governments. It's a true win-win when all ships, not just some, rise with the rising tide.
The Hermitage Club at Haystack Mountain