Belknap County Saddled with Half Million Dollar Loss at Gunstock
Skier visits were down 11% as compared to last winter.
Sunday, April 29, 2018, NewEnglandSkiIndustry.com
Gunstock, April 26, 2018
Already dealing with an unhappy Belknap County Delegation, Gunstock management disclosed a half million dollar loss to the Gunstock Area Commission on Wednesday.
According to the Laconia Daily Sun, Gunstock lost $470,931 during the 2017-18 fiscal year, with skier visits dropping 11% to 150,320. The area has posted losses in two of the last three years, for a total operating deficit of $287,965 during this period.
Gunstock is projecting a $890,000 profit on $12,200,000 in revenues next year.
Unlike Cannon Mountain, the other large government owned and operated ski area in New Hampshire, Gunstock reportedly recognizes all of its recent debt payments on its books, resulting in larger and more frequent losses in subpar seasons. At the Commission meeting on Wednesday, Gunstock announced plans to restructure its $2.6 million mountain coaster debt, due to cash flow concerns.
