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mogulone100 -

Well stated.. however, The aquisistion of Rock Resorts and other non-ski assets has diluted that synergy. Golf "at" a ski resort is a great way to fill otherwise empty ski beds, But.. A hotel in Vermont or on San Fransico Bay is not driving skiers to the mountains or the golf courses at these ski resorts. Take in to consideration that many of these Hospitality aquisitions are tired and need millions of dollars of renovations and now you have a drain on otherwise outstanding (and profitable) Ski Resorts. Fabulous revenues from Ski operations and real estate sales "at" the Ski Resorts has fueled these aquisitions but it may be time to cut bait.

Salim - thanks for the balanced speculation, this will be interesting.
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