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FANCY BEING A SKI RESORT OWNER? - Katie Bamber, PlanetSKI
Thursday August 25, 2016 - Email this article to a friend

Red Mountain in Canada has launched a crowdfunding campaign offering skiers and boarders the chance to own part of the mountain.


'Fight the Man. Own the Mountain,'
is the slogan of this move.

Skiers and snowboarders can own part of the resort - the mountain, chairlifts, the lodge, the snowmaking.

It comes as MegaResort mergers and acquisitions are taking place across the North American snowsports industry.

Red Mountain claims this is a campaign for the people, to take back control of their ski hill.

You don't need an impossible credit rating or large bank balance to invest.

Investments of $1,000 to $25,000 are asked for with a view to raising $10 million.

In exchange people get to own part of the resorts and there are benefits including lift passes and overnight stays in on-mountain cabins.

The campaign has named it 'Shred Equity'.

Red Mountain, British Columbia, CanadaRed Mountain, British Columbia, Canada

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Red Mountain is located in Rossland in British Columbia  with 2,877 acres of skiing and 7.6 metres of annual snowfall, and it is on the famous Powder Highway.

It underwent a huge expansion back in 2013 when it opened up a whole new mountain area - we reported on it at the time.

PlanetSKI visited on our motorhome tour round British Columbia last winter and its was one of the best resorts we skied - see here for our report from the time.

Check out our content editor, James Cove, and his colleague Alf Alderson in the powder.

Red powderRed powder

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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"RED started as a ski club that was owned by the community. You can feel it in the spirit of the place, the camaraderie, the spark," said the Red Mountain CEO, Howard Katkov.

He describes Red Mountain as an "endangered species" that needs saving during the current consolidation of the resort industry.

 "We're 'ReBooting' the Red Mountain Ski Club Community Ownership Model from 1947 - only this time the clubhouse will have wireless!" Katkov added.

The ownership of ski resorts in North America is very different to how it was to even 10 years ago.

Many independent resorts have been swallowed up by larger ones - others have tried to adapt and lose their original values.

Some think they have lost their 'soul' in the process - Red Mountain is trying to avoid this.

In just a few years Vail Resorts has taken over Park City in Utah, Perisher in Australia and tiny Wilmot Mountain, Wisconsin. And just this month Whistler joined its ranks as we reported on PlanetSKI.

"We have the snowfall, vert and world-class terrain to go boot-to-boot with the Big Guys, but have consciously maintained our mom 'n' pop/weird uncle feel for over 100 years," Katkov says about Red Mountain.

"Think of this as a family investment. We do..." Katkov adds, as he encourages people to buy into the mountain and turn the corporate tide.

Round 1 of this campaign, 'Test the Waters', went live on 23rd August.

This is where parties can express interest in the investment without yet having to hand anything over.

If and when 'Test the Waters' gains sufficient traction, Red Mountain will file an offering statement with the SEC in the United States and prepare a Canadian offering memorandum to launch with real dollars, actual equity, and unique perks.

The minimum offering is set at $1,000 to entice hardcore skiers and snowboarders who might not have much spare cash.

"We aren't just keeping it real for us," adds Katkov. "We're keeping it real for everyone."

"We believe that keeping a place like Red Mountain thriving betters the sport for everyone in a time where families that love this mountain lifestyle are feeling disrespected and dejected," Katkov added.

"So we hope you'll join us - in any way you can - to 'Fight the Man. Own the Mountain'."

For more details then see here.

See here for the main PlanetSKI news page with all the latest stories from the world of snowsports.

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