Big Mtn. hotel-conference center on drawing board
A hotel-conference center that's been a key piece of Big Mountain's master plan for 15 years is on the front burner, Winter Sports Chief Executive Officer Fred Jones told shareholders at the corporation's annual meeting Tuesday.
Plans for the Great Bear Inn are moving forward, and the project goes before the Whitefish City-County Planning Board on Sept. 15. It's slated to be built where the popular Bierstube bar now operates.
"It's a key site that works well with the existing facilities," Jones said.
Although the 1990 master plan called for a 100-unit hotel, the Bierstube site isn't big enough for that many units. It would support a hotel with about 80 units, and conference space for groups of as many as 200 people would be designed within the facility.
Because year-round occupancy is a concern, the plan is to market the ownership benefits of condominium living with the amenities of a full-service hotel, similar to the way Alpinglow Inn was marketed many years ago. Rooms are "still in the conceptual design process," but likely would include a mix of standard hotel rooms equipped with fireplaces and wet bars, and more spacious suites.
A marketing team has been hired, and a development sales office is set up in Kintla Lodge, but cost estimates still are being determined, Jones added.
"The intention is to be under construction next summer," he said.
During the comment segment of the annual meeting, shareholder Curt McIntyre said that a hotel-conference center would be the "impetus to get over a hill we've tried to get over for decades."
SHAREHOLDERS ELECTED a slate of nine directors that, for the first time in the resort's 58-year history, had a majority of out-of-state nominees. New directors include William P. Foley II, Winter Sports' largest shareholder with 44 percent of the corporation's stock. Foley, who is CEO of Fidelity National Financial, is joined on the board by two of his colleagues at Fidelity - Alan Stinson, chief financial officer, and Frank Willey, vice chairman.
Other new directors are James Taylor of American Capital Group, Paul Coe of Imperial Capital and John Kuelbs of World Factory Inc. Three local directors, Mike Jenson, Mike Muldown and Dennis Green, were re-elected.
Going off the board were Charlie Abell, Jerome Broussard, Charlie Grenier and Jerry James. Darrel "Bill" Martin retired from the board May 31, after serving continuously since 1957.
Michael Finegold of Advest Inc., who had nominated himself for a board position, withdrew his nomination.
At the request of shareholders, Foley shared information about how he got involved with Big Mountain.
When the block of stock owned by convicted sex offender Dick Dasen became available, it piqued Foley's interest because he was interested in Big Mountain real estate.
"Frankly, I didn't buy it until I talked to Fred [Jones]," Foley told shareholders. "This company was about to go bankrupt if something wasn't done. The company needed more capital."
Foley initially put up $5.5 million for stock.
"This is not a real-estate play in our mind, it's a long-term investment," he said, explaining that, like the wines made from grapes grown in his own vineyards, by the 10th year he hopes to see a return on his investment.
"I don't intend to be an active manager. That's Fred's job," Foley said. "If we're not happy with Fred, then we need a new Fred. Right now, we're happy with Fred."
Foley said he believes his business experience can be an asset for Winter Sports, and assured shareholders that Winter Sports will be "run for the benefit of the shareholders.
"You should be happy," he added.
Winter Sports raised $12.5 million through a private placement of common stock, a bright spot after last year's $1.5-million operating loss that largely was because of a warm, dry winter throughout the Pacific Northwest.
Features editor Lynnette Hintze may be reached at 758-4421 or by e-mail at lhintze@dailyinterlake.com.