Why should those of us interested in Killington real estate care so much about what the Killington Resort plans for 2007 and beyond? I think an editorial in the Rutland Herald was "right on" in terms of making the connection:
"Nyberg's [new Killington President and General Manager] comments suggest the company intends to invest in the deferred maintenance and basic upkeep of the ski areas before making big capital improvements. Killington and Pico face strong competition, and shabby facilities will prevent them from returning to the top rank of eastern ski areas.
A prosperous ski area is good for the region. It spills over into the restaurant, lodging, and real estate businesses, as well as the retail and cultural businesses of the entire region. If Powdr is able to achieve its ambitions, the benefits are likely to be far-reaching."
I fully agree that the tone of the resort sets the tone for all commerce in the town. If the mountain is successful, I see success for all neighboring businesses and property owners. For those who want to rent their properties, there should be more visitors to the area, needing a place to stay. For those who want to sell their property, a better image of the mountain and its prospects should translate into rising property values and more buyer interest.
Killington plans to invest $3 million in the resort this year and much will go toward polishing existing infrastructure and snowmaking improvements. New season pass rates are out that support a strategy to improve the customer experience and make money. Powdr says they will invest profits from Killington in Killington.
I like what they say. I think the future is bright. We just have to have some patience. Bottom line is that I think it's a great time to buy Killington Real Estate.