WINTERGREEN, VA (WTVR) – Extended periods of warm weather this winter is not being kind to local ski resorts.
In a statement released to affiliate WCAV, the ownership of Wintergreen reports that the resort has lost $2.5 million through the end of January and could lose another $1.5 million if the weather remains as is for the rest of the winter.
The statement indicates that the warm weather losses contributed to a $3 million line of credit to be terminated last week. That leaves Wintergreen without the ability to borrow short-term money.
Wintergreen is asking its investors to approve a new $6 million debt deal, and is asking members to pay next year’s dues early. The resort is also moving to reducing its operating costs by $1.5 million a year beginning in July.
As for the skiing, some slopes are open (view the current ski report here), and this week’s lows are allowing for some snowmaking.
