High school sweethearts Tim and Diane Mueller began their joint business careers in 1975 when they built and operated Point Pleasant in the Virgin Islands.
But they added the ski business to their portfolio in 1982 when they bought a controlling interest in Okemo Mountain in Ludlow, Vt., a then-struggling and under-developed “sweetheart†of a ski area.
By working their hearts out, and by reinvesting Okemo’s income each year, the Muellers have increased business more than twentyfold in the past two decades.
And in 1998, Tim and Diane entered into a leasehold agreement with the state of New Hampshire to operate its low-key Mount Sunapee Ski Resort. After spending more than $12 million in improvements, they saw business more than triple in the first three winters.
Now they are in Colorado, ready to sign an agreement for the purchase of historic Steamboat Springs for a reported $91.4 million. This time they have some 20 investors and have formed Triple Peaks LCC to own all three areas.
In the 20 years they have been in the ski business, they have made Okemo the second busiest snowsports center in Vermont, with nearly 600,000 skier visits last winter. They have also turned sleepy Mount Sunapee into the second busiest resort in New Hampshire, with some 290,000 visits last winter.
And in Steamboat, they will have a resort boasting a million skier visits each winter, as well as being the home for 47 present or former Olympians.
American Skiing Company, owner of Steamboat Springs and seven other ski resorts from Maine to California, including Mount Snow/Haystack and Killington/Pico in Vermont, has been fighting bankruptcy with debts of more than $400 million.
ASC was established by Les Otten, who had turned Sunday River in Maine into one of the Northeast’s most profitable resorts. In quick succession, Otten bought Killington and Mount Snow from Preston Leete Smith of SKI Ltd., and then Sugarbush in Vermont, Attitash in New Hampshire and Sugarloaf in Maine, before heading west to purchase Heavenly Valley in California, Steamboat in Colorado and The Canyons in Utah (home base for NBC during the just finished Salt Lake Winter Olympics).
But Otten spent millions in the first two or three years and bad skiing conditions at many of his resorts forced him to borrow more than $150 from investors who gradually assumed control of ASC. Otten stepped down last summer and is now a “second tier†owner of the Boston Red Sox, although he was able to keep some income producing elements at several of his former resorts.
ASC’s new president and CEO, B.J. Fair, with experience in Disney type operations, sold Sugarbush last November to several investors at the adjacent Mad River Glen. The purchase price was never made public, but is reportedly far less than the $91.4M ASC should receive for Steamboat.
Fair stated recently that “the sale is a fundamental component of the restructuring plan for ASC.â€
“It is a milestone and will significantly reduce ASC’s debt and allow us to focus of our core business,†Fair continued.
Business analysts feel that ASC must sell more of its remaining resorts before escaping bankruptcy.
While other resort chains, such as Intrawest of Vancouver, British Columbia (owner of Stratton), have been successful at operating multiple snowsports centers, the Muellers have been on the job almost daily since acquiring Okemo, and Sunapee is only an hour away. Will adding Steamboat bring Otten-like problems?
The Muellers don’t think so!
“We took the three best and will make them even better. We are not looking to become the biggest ski resort in America. The qualitative aspect is, and has always been, the priority. We have key criteria to what we see in any resort that we acquire. We feel that Okemo, Mount Sunapee and Steamboat complement each other,†the Muellers stated. “They are the best in their individual markets and each resort will build upon its own strengths and respond to their own markets. We know what our guests want in each market that differentiates each resort from one another.â€
The Muellers are no longer involved the Virgin Islands’ resort business and have spent some $100 million at Okemo, adding new lifts, more snowmaking and trails, and additional overnight accommodations each year.
They are currently seeking final approval for an entirely new addition to Okemo, the adjacent and connected Jackson Gore, with new lifts, new trails, a new golf course and a 117-unit condo hotel, plus other condos.
But a group of Okemo residents opposes additional facilities at Okemo and the residents of Ludlow will vote March 5 on a proposal for 40,000-square-foot minimum lot sizes.
That would severely impact the sale of housing units at Jackson Gore, or anyplace in Ludlow, and the Muellers are urging voters to reject the proposal.
Some Sunapee residents are also against the Muellers’ plans to expand housing at that long-quiet resort, which was a money loser when operated by the state for more than 30 years.
The Muellers are also aware of the reluctance of many Colorado residents to expanded operations, after their plans to build a new ski area called Catamount only seven miles from Steamboat were abandoned. They had purchased some 3,000 acres in the early ’90s with Lyman Orton, president of the Vermont Country Stores Inc. in Weston, Vt.
After dropping plans for a big-time resort, the Muellers and Orton have been partners in Catamount Ranch and Club, a golf and real estate development. Orton has split his time between Weston and Steamboat for the last 10 years.
As soon as the Steamboat deal is “done,†the Muellers and their associates will turn their attention to bringing the resort to its full potential. It is not known what role the current ASC General Manager Chris Diamond (former longtime GM at Mount Snow) will have, if any.
Tim Mueller said he does not plan a major overhaul, as Steamboat has complete and modern facilities.
Starting with their Virgin Islands resorts, the Mueller have stressed the finest in service and facilities and a desire to offer guests and visitors whatever they desire.
And in the process, they have become active in local and regional affairs, particularly in the environment and education areas.
Tim, an All-American in lacrosse at Franklin and Marshall College, immediately became involved in resort development at Powder Mill in Londonderry, Vt., just south of Ludlow.
Diane, a graduate of Chatham College on Long Island, concentrated on management and development, including human resources and training, as well as design and marketing.
She has been involved in educational projects at Okemo and Mount Sunapee and was made to the Vermont State Board of Education, where she is now vice chair. Earlier she had served 10 years on the Chester (Vt.) High School Board.
Diane was named Citizen of the Year in 2001 by the Vermont Chamber of Commerce.
With energy enough to run marathons, she fills in whenever needed at the ski resorts and drives to the state capitol in Montpelier frequently, between flights to Colorado.
Her husband has served as president of the Vermont Ski Areas Association and is a present member of the Vermont Electric Consumers Coalition and the National Ski Areas Association.
Their son Ethan is very involved in mountain operations and is the parks & pipe director at Okemo, while also assisting with terrain parks at Sunapee. Daughter Erica attends college in Colorado and is a nationally-ranked snowboard racer.
Throughout their business careers, the Muellers have been very much involved in day-to-day projects as well as long-range planning and civic commitment, but they also maintain contact with their financial supporters: the skiers and snowboarders who have made Okemo and Sunapee tops in their respective regions.
And both are expected to bring their energy, interest and community zeal to Colorado.
John Hitchcock of Williamstown writes frequently about the area sports scene.
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Winter Storm Warning Issued for Berkshires
Another snowstorm is expected to move through the region overnight on Friday, bringing 5 to 8 inches of snow. This is updated from Thursday's winter weather advisory.
The National Weather Service in Albany, N.Y., has posted a winter storm warning for all of Berkshire County and parts of eastern New York State beginning Friday at 4 p.m. through Saturday at 1 p.m.
The region could see heavy to moderate snowfall rates of 1 to 2 inches per hour overnight, tapering off Saturday morning to flurries.
Drivers should exercise caution on Friday night and Saturday morning, as travel conditions may be hazardous.
Saturday night should be clear and calm, but warming temperatures means freezing rain Sunday night and rain through Monday with highs in the 40s. The forecast isn't much better through the week as temperatures dip back into the teens with New Year's Eve looking cloudy and frigid.
Many homeowners are showing their holiday spirit by decorating their houses. We asked for submissions so those in the community can check out these fanciful lights and decor when they're out.
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