Win Smith, president of Sugarbush Resort was the first speaker for Champlain College’s BYOBiz Spring 2008 Event Series on January 22^nd at the campus’ Alumni Auditorium. Win told the crowd that “you gotta do what you love” and for Win, that means being on the mountain. Last season, Smith clocked 106 ski days, and he already has 51 under his belt this year.

Win explained the story of Sugarbush as a mountain that had lost its way, its brand and its momentum from the mid 1990s through to the 2002-2003 ski season, but he believes that under its new ownership, Sugarbush is beginning to hit its stride once again. Noting that owners of Bolton Valley and Smuggler’s Notch were in attendance, Win joked about not giving up too many trade secrets, but he did give a nod to Smuggler’s Notch’s successful strategy of turning the mountain into a 4 season destination, and developing its real estate wisely to drive a profit for the resort.

Smith noted that when he and his investor group took ownership of the mountain there were years of deferred maintenance that had accrued on much of its equipment, and there were a number of non-strategic assets that needed to be divested. While his market research showed that the mountain compared favorably on many competitive metrics, it still lagged behind in terms of restaurants and facilities. Win saw this as an opportunity, and one of the factors that he could control as manager, which led to some recent developments at Sugarbush. As a result, the new Gate House base lodge, Timbers Restaurant and Clay Brook Residences were designed and built to emanate a Vermont Village feel, with architecture that is reminiscent of large red barns yet offer high-end amenities including a heated outdoor pool.

Win pointed to Vermont Ski Areas Association statistics that suggest Sugarbush statistics have rebounded in recent past, including a market share boost from 6.7% in 2003 to 7.3% in 2005, and $3MM in season’s pass sales in 2006, up from $1.8MM in 2004. Win indicated that he has future development plans for the mountain, noting that Sugarbush owns 4000 acres, with 200 of those targeted for real estate development. Win suggested that Sugarbush might sell off some of those 200 acres to other developers, while keeping the premium slopeside opportunities for Win's own company, Summit Ventures, with an estimate of 650 units being developed on both Lincoln Peak and Mt. Ellen perhaps over the next 8 years.

The BYOBiz event was well attended and the Q&A session proved lively. There are 4 additional events scheduled for the series this Spring including a BYOBiz Young Entrepreneurs Panel that will feature Andy Rossmeissl, founder of FreshTracks portfolio company Brighter Planet on March 11. To view the full schedule, please click here: Champlain College’s BYOBiz Program Events.