
Storm News 9/10/2026: Ikon Adds Partners, Indy Pass’ Mogensen on Black, Smuggs, Midwest
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The Zoom transcript (click “transcript” above for the Substack transcript, which will zoom to any point in the video when you click on the associated text block; timestamps below DO NOT MATCH THE VIDEO)
Stuart Winchester: Welcome to The Storm! I’m your host, Stuart Winchester. It is September 10th, 2026, and we have some big, big news in Ski World today.
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Stuart Winchester: So one of the things that I focused on since launching the storm in 2019 is the rapid.
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Stuart Winchester: Exponential growth in US based multi mountain ski passes and one of the biggest icon pass today released five new partners for the 2026 to 27 season. So I’m gonna break those down for you.
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Stuart Winchester: I am going to talk a little bit more about IndyPass and some of their partner shuffles. Then we are going to be joined by IndyPass owner, Eric Mogenson, who will give us a breakdown on all things happening with Indy, Black Mountain, and Entebeni Systems.
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Stuart Winchester: reader reaction, but I want to jump right into Icon Pass. Icon hits us today with, as I said, 5 new ski areas, 3 are full partners, and those… which means 7 days on the Icon Pass.
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Stuart Winchester: 5 days on the Icon Base Pass. All 3 are in Asia.
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Stuart Winchester: The first is Matarau, Japan. That will be ICON’s 10th ski resort in Japan.
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Stuart Winchester: And then, Icon, last year, was the first U.S.-based pass to add a ski area in China, and Icon adds two more today, though they’re nowhere near the ski area that it added last year. They are sort of close.
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Stuart Winchester: to each other. So, we’re gonna break those down first, and then ICON added two mountains to its two-day tier, uh, which it calls Bonus Mountains, which ICON insists are not ICON Pass members, uh, but I insist they are, because you can access them with your ICON Pass. Therefore, they are on.
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Stuart Winchester: the Icon Pass, no matter what Altera tells us. So, let’s start with Montreal, Japan, and if you’re on…
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Stuart Winchester: The…
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Stuart Winchester: If you’re on the video, I’m going to share my screen here because we’re going to do a little visual helping.
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Stuart Winchester: All right, so let’s take this away. All right, so the first one I want to break down.
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Stuart Winchester: is…
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Stuart Winchester: Madarao, Japan, and I’ve actually written about this ski area before, because they were an IndiePass member, and this is the article that I wrote back in 2023, when Madarao joined IndiePass, and Indie’s been a big leader in.
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Stuart Winchester: Bye.
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Stuart Winchester: building out a network in Japan. So, the ski resorts in Japan are interesting. I’ve not skied there, but I’ve been there in the summer and ridden the lifts around.
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Stuart Winchester: And the skiing is very much like a mix of…
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Stuart Winchester: The Cottonwoods and New England. And what I mean by that is, if you’re looking at the screen here, you can see the stats on Mattarau. 512 inches of average annual snowfall.
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Stuart Winchester: Uh, but not a lot of vert, 1,444 feet, and as you can see from the trail map, if you’re looking here, it’s not a big trail footprint. So, what I mean when I say Cottonwoods is the snowfall, and when I say…
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Stuart Winchester: New England, I mean the size. They tend to be not huge vert, sort of compact. If they do have a lot of vert, like the Jacuba Valley ski resorts that are on Vail, they tend to go, uh, kind of straight up and be side by side. You don’t have a lot of the mega resorts as you would have.
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Stuart Winchester: in North America, or especially in Europe. So, it’s good that the passes are all building density in Japan, because the ski areas are not…
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Stuart Winchester: This is not a place that you would go to necessarily.
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Stuart Winchester: like Vail Mountain and spend a week, or like Whistler. Another thing I want to note about Japan, you can see here that Matarau has some glade zones marked. In a lot of cases, skiing off-piste or in the trees, even though that’s what Japan is known for, in a lot of cases, my understanding is that that’s pretty heavily policed and forbidden.
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Stuart Winchester: So you really have to research your ski areas before you go over to figure out which ones will actually allow you to go off-piste, which is what most of us want to do, right? If we’re coming from North America, we’re going there for the big powder. Japan is a little more of an on-piste tradition.
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Stuart Winchester: a little bit more like Europe. So, I…
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Stuart Winchester: there’s… to underscore the scope of what we have now available to us in Japan as U.S.-based pass holders. So, with the addition of Madarao today.
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Stuart Winchester: Now, 53 ski areas in Japan have joined the Epic, Icon, Indy, or Mountain Collective Passes. And I actually, I want to show you something I have that’s really cool. So, I have this gigantic chart, and it’s kind of…
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Stuart Winchester: it’s kind of hard to navigate, but I’m slowly making it a little bit better. And so this is a chart that’s variously called a bunch of different things. Right now, I’m calling it the Encyclopedia Britannica. Sometimes it’s been the Passmaster.
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Stuart Winchester: 5,000. And I just kind of change the name whenever I want, but the link is always the same. And what I’ve… it’s a really slow Google Sheet, and I definitely need a better platform, but if you go, there’s all these tabs.
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Stuart Winchester: Down at the bottom, and again, this is where it’s nice to have the video, so you can see what I’m showing you here. So I have all these tabs. One of the tabs is all MegaPass ski areas. So I have this divided up, and these are just little tables that pivot off the main table, so all the stats are up to date.
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Stuart Winchester: So first, I have this…
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Stuart Winchester: chart here with all ski areas that are on any U.S.-based pass, and we’ll talk about that a little bit more in a second.
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Stuart Winchester: Then I have…
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Stuart Winchester: all U.S. ski areas, then I have New England, I have Japan, so let’s pause on Japan for a moment. 53 ski areas, 11 Epic, 10 Icon, 32 Indy, 1 Mountain Collective. You can see all the stats down here. Again, not big.
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Stuart Winchester: skiable acre footprints, and really, Japan measures things differently than North America. They tend to measure snowpack rather than inches of snowfall. I did find a good average annual snowfall chart on Powderhounds, which is a great site that I’ll talk more about.
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Stuart Winchester: for international research of ski areas. But if you see these acreage totals, you know, there’s really nothing much.
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Stuart Winchester: Here’s Niseko United, it’s 2,100 acres, that’s 5 ski resorts combined, right next to each other. Rasutsu is, uh, is 2,000, but most of these are under…
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Stuart Winchester: 500, so you really prepare yourself for that. It’s one place, I think, Japan, where it would help to get a guide. Everything tends to be pretty cheap once you get on the ground. In Japan, the lift tickets are nothing, so having someone to show you around and show you where you can go under the ropes.
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Stuart Winchester: is a good idea. And, you know, I want to jump ahead to reader feedback for a moment. So I had…
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Stuart Winchester: this comment from Allison Wood. She said, I look forward to seeing your future efforts. I know there’s enough in American skiing to discuss, but I’d be curious if you would further discuss European Alps destinations. It seems to be growing in popularity due to competitive pricing versus U.S.
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Stuart Winchester: Western resorts. A week at Big Sky appears to be the same price as a week in Switzerland for those in the Eastern USA. The answer is absolutely yes. I do want to cover the Alps and Japan and all of these international destinations more.
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Stuart Winchester: I don’t have the personal on-the-ground knowledge base with those ski areas that I do with the U.S. ski areas, so I’m reaching out to my contacts in Europe, in Japan, who know these resorts intimately, and I’m gonna bring them on the show to try to help us make sense, because if you go back.
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Stuart Winchester: We go back to the Encyclopedia Britannica for a second.
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Stuart Winchester: You’ll see that…
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Stuart Winchester: The, uh… if I can get to it…
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Stuart Winchester: Okay, so Japan has 53 ski areas, Canada has another 55, and most of us can sort those out easily enough. The harder ones is Europe. I mean, Europe, there’s 61 ski areas, and sometimes a ski area in Europe is, you know.
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Stuart Winchester: 10 ski areas that put together are as big as all the ski areas in Utah. So I really need some help to break those down. But that’s the great thing about this new format is that it will allow me to bring in more voices more frequently since there’s more frequent shows. All right.
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Stuart Winchester: Icon also today added two ski areas in China, and the best site to just get the basics of any ski area in the world is, I’ve found, skiresort.com. They have a profile of every ski area. They tend to keep it up to date. I don’t know who runs the site.
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Stuart Winchester: I would like to connect with them at some point, but this is really my go-to for… so this is Betahu, I’m sure I’m pronouncing that wrong, one of the ski areas that ICON added in China, and they have all the basic information, the elevation, which is not high, it’s all in meters, obviously, out of the U.S.
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Stuart Winchester: Uh, what I really like is the lift breakdown and the trail map. So, the… the thing about the ski areas in China.
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Stuart Winchester: is just like everything else in China, they’re pretty much brand new. I read this really interesting.
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Stuart Winchester: quote in the New York Times several years ago, and the notion.
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Stuart Winchester: was basically China…
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Stuart Winchester: stayed pretty much in the 19th century for all of the 20th century, and then it got to the 21st century in about 10 years. So, you go there, there’s high-speed rail, everything’s new, there’s new buildings. The ski resorts are new as well, and you can see this in their lift fleet. I mean, this…
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Stuart Winchester: You know, they have a…
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Stuart Winchester: six eight-person gondolas, one six-person gondola, two high-speed six-packs, three high-speed detached quads, no fixed grip lifts at all, and then you take a look at the trail map, and again, this is probably a little more like Japan, where these are.
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Stuart Winchester: a little bit smaller ski areas than what we’re used to, uh, as far as the Mountain West. But, you know, it’s all very well interconnected. I would expect a lot of on-piste skiing. You know, with a… with a immature ski culture, I wouldn’t expect a lot of glade stuff.
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Stuart Winchester: to be developed. Kind of talking on my rear end, to be honest, because I’ve not skied in China or even been to China, but these are my perceptions with the different ski cultures I know. I’ll try to track down someone who knows better. Here’s the other Icon Pass resort, Lake Songwa Resort, and I want to make…
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Stuart Winchester: that we kind of have an Aspen-Crested Butte situation going on here, so Sangua and, uh, this other one they added, uh…
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Stuart Winchester: Beidou, there, as you can see on this Google map, they’re 24 miles apart in the mountains, but it looks like about a 4-hour drive, so there’s not really a road through the city. It’s the same kind of deal with Aspen and Crested Butte, where they’re pretty close, but it’s a long drive around. These are seasonal roads that Google doesn’t know about, so it’s about a 5-hour drive in the winter.
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Stuart Winchester: I believe. So…
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Stuart Winchester: We have these, and then, if you want to go to China to experience skiing, Icon gives you the means to do so. And then, Icon added…
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Stuart Winchester: to their 2-day tier, which again, they’re saying is not IconPass. I want to talk about the 2-day tier a little bit in general. So, Icon started this 2-day tier.
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Stuart Winchester: last year, and I think what they were trying to do is mirror what Vail did.
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Stuart Winchester: with its feeder ski areas and all these little places that are bought all over the country, Mount Brighton in Michigan, and Afton Alps in Minnesota, and Wilmot in Wisconsin, and all the resorts around Cleveland.
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Stuart Winchester: and you know, Alpine Valley. And then there’s the names escaping me. Boston Mills, Brandywine. I just skied there and did a write-up on it. So so yeah, they’re.
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Stuart Winchester: Vail bought up all these ski areas. Well, Icon, instead of doing that and buying, has added two days only on the full Icon Pass, which is currently $1,449, uh, two days to 11 different ski areas around the country.
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Stuart Winchester: It’s been growing that list. Silver Star was one last year, and it converted to full Icon, but right now, if you’re on the screen share, you can see the 11 that are currently on the Icon Pass two-day roster. So we…
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Stuart Winchester: had today the additions of Cabarfay Peaks in Michigan.
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Stuart Winchester: And…
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Stuart Winchester: In Wyoming, we had snowy range. So Caberfay Peaks is actually, it’s an awesome ski area. It’s one of my favorite ski areas. I grew up about an hour and 15 minutes from there.
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Stuart Winchester: And with Cabot Fay, it…
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Stuart Winchester: It’s a really fun place. They’re constantly building it up. And what the cabaret you see today is very different than the cabaret that existed a long time ago. It basically used to be a two mile sprawl of rope tows and starting in the 1980s.
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Stuart Winchester: Uh, the families that owned it dug up from the bottom here.
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Stuart Winchester: and added to the top. So they went from a couple hundred vertical feet to 485 vertical feet, and it continued to…
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Stuart Winchester: expand, and they have another expansion in the works over here on Green Mountain. Should be coming 27-28, and I’m gonna have Tim and Pete Meyer from Calgary Fay Peaks on next week to talk about that a little more.
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Stuart Winchester: And then we have…
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Stuart Winchester: Uh, it’s Snowy Range, Wyoming, and Snowy Range might seem like a little bit of a weird one, but Snowy Range is actually very logical. They’ve had a long-standing relationship that’s in southern Wyoming. It’s not, it’s only a couple hours from Steamboat. They have a long-standing relationship with Steamboat.
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Stuart Winchester: to a snowy range season pass for 300 and some dollars this year. They changed that to half off in a 3 day icon session pass, which is good at Steamboat and several other mountains. And now, if you have a full icon, you would also get 2 more days at Steamboat.
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Stuart Winchester: Uh, or you would actually get 2 days at Snowy Range.
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Stuart Winchester: if you were, you know, wanted to escape the crowds at Steamboat one day. So, we are gonna…
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Stuart Winchester: Come back to…
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Stuart Winchester: IndyPass in a moment. Actually, I have one more IndyPass update, then I’m gonna go to Eric. So, Mission Ridge and Blacktail in Washington have left IndyPass.
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Stuart Winchester: And…
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Stuart Winchester: Hold on, let me just…
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Stuart Winchester: So Eric, I’ll be right there.
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Stuart Winchester: We’ll get to Mission to Blacktail in a minute. I’m gonna bring Eric in.
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Stuart Winchester: And I’m going to stop my screen share.
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Stuart Winchester: Uh, Eric?
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Erik Mogensen: What’s up, man?
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Stuart Winchester: How you doing? Joining us now is the director of IndyPass, the founder of Entebeni Systems, and the operator of Black Mountain, New Hampshire. Eric Mogenson is a good friend of the storm, and he joins us now from where? Where are you, Eric?
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Erik Mogensen: I am, uh, calling in from Black Mountain, New Hampshire, our new home, and I’m up at the Alpine Cabin.
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Stuart Winchester: I want to start on the Alpine Cabin. Tell us what the Alpine Cabin was when you arrived at Black Mountain and what it has turned into from what it is and from a revenue standpoint.
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Erik Mogensen: Yep.
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Erik Mogensen: Yeah, so, um, I spend the first 8 to 10 hours of my day working with our engineering and product teams, and most of it is in front of a computer or on the phone, but by 5 PM I try to be up here on the mountain every.
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Erik Mogensen: night. Like, doing trail work, on the excavator, snowmaking, lift work. But I keep a desk up here in the summer. Couldn’t keep a desk here in the winter. Um, but I do keep a desk up here so that when I have an idea, or I want to come write something down, or I want to watch a YouTube video, or do something, this place is super productive for me.
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Erik Mogensen: It’s like my peaceful, happy place in the summer. In the winter, there is nothing peaceful about this place. This, this place rages, uh, European style. So, when we took over Black Mountain, the Alpine cabin, the credit card receipts from the Alpine cabin the year before.
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Erik Mogensen: were $38,000, uh, for the season in sales. Um, and the year after, our first year that we took it over, it was over $300,000.
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Erik Mogensen: Um, and then our second year, it was over $600,000, and most of that comes down to champagne.
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Erik Mogensen: But don’t look at champagne as something you drink. Champagne is something that you use to celebrate. And so I think.
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Erik Mogensen: The long-winded answer to your question is, is the Alpine cabin is truly a place to celebrate the sport and culture of skiing, and people are definitely holding on to that.
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Stuart Winchester: It’s an amazing space, and if folks aren’t familiar with Black Mountain, that’s the main double chair to the summit right behind you, and it goes right over the alpine cabin. It’s a party scene, and it’s a lot of fun.
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Erik Mogensen: Oh, yeah.
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Stuart Winchester: Going from $38,000 to $600,000, 20X in revenue, I mean, Eric, that’s the kind of revenue stream that could change the path of a lot of small ski areas. Is that replicable, do you think, at some of these smaller family-owned ski areas around the country that.
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Stuart Winchester: are really tied to old revenue models and just need a little spark.
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Erik Mogensen: Yeah, I don’t know if you can scale the champagne necessarily, but you can definitely scale.
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Erik Mogensen: the focus on the culture of skiing. And I think that’s really what the independents do so well, is that, you know, the wood fireplaces smell authentic, the people are very authentic, the ski trails are authentic, they’re weird, they’re quirky, the lifts are slow, right?
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Erik Mogensen: Those a lot of people look at those things. We’ve been programed as skiers to see those things as liabilities. They’re actually our biggest assets. And so, yeah, the Alpine, you know, the Alpine cabin was a little 200 square foot patrol shack.
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Erik Mogensen: that sold some, you know, beer and hot dogs.
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Erik Mogensen: But we never looked at that as a liability. We never looked at that as, hey, we need to go build a 20,000 square foot mid-mountain lodge, take on a ton of debt.
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Erik Mogensen: Um, we really looked at it as an opportunity, and I think every single small ski area has that exact same opportunity to focus on the authenticity of the product that they deliver.
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Stuart Winchester: There’s been a ripple effect, too. I mean, what can you tell us about skier visits before and after you purchased it? Because Black, for background, for people who are not familiar with Black, the reason you own Black is because they announced they were closing on Facebook. They said, we’re done. The skier has been open since 1930, whatever.
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Stuart Winchester: said, we’re done, this was 3 years ago, and you said, no. And you tried to find a buyer, looked for a year, uh, and decided to buy it yourself. So, so…
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Stuart Winchester: You took a dying skier, what did the skier visits revenue look like when you got it, and what do they look like today?
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Erik Mogensen: It was about $700,000, $750,000 in top line revenue when we bought the whole ski area. Yeah, including the $32,000 in hot dogs and beer at this cabin.
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Stuart Winchester: That’s the whole ski area.
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Stuart Winchester: Okay.
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Stuart Winchester: Mmhm.
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Erik Mogensen: Um, so it was the entire ski area. I don’t quite know what the skier visits were. Um, we know what the ticketed visits were, but I would guesstimate that the skier visits were somewhere between, you know, 10 and 15,000.
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Stuart Winchester: Mm-hmm.
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Erik Mogensen: Um, in our second year, we took it to $2.5 million in top line revenue. Um, we’ve surpassed $5 million, uh, here in our 25th or 26th month. And skier visits, you know, all in, including employees and the whole thing, right about 55,000.
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Erik Mogensen: So it’s been a big turnaround. It’s been interesting, learned a lot.
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Erik Mogensen: And.
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Erik Mogensen: I think this is 100% doable by most of the smallest areas on the planet.
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Erik Mogensen: You just have to realize that if you want a different and better result, you have to take different and better action.
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Stuart Winchester: Yeah, I mean, you proved me wrong, because I, you know…
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Stuart Winchester: I thought Black had maybe just had its time, because it’s surrounded by two Vail Own Mountains and Cranmore, which is a high-speed lift. Sunday River is right down the road. Uh, you have intense competition from Epic.
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Stuart Winchester: and… and Black Mountain is not an especially snowy mountain, like, say, Smuggler’s Notch, we’ll talk about in a minute. I… I didn’t know if… if it had enough aura.
00:26:26.000 --> 00:26:38.000
Stuart Winchester: But it seems like you’ve either tapped the aura or created it, and really turned it around, and really given me a lot of hope that a lot of the ski areas that we see around the country, that…
00:26:38.000 --> 00:26:45.000
Stuart Winchester: Seem to be up against this modernization curve, they can’t quite get ahead, might be able to take other routes to get there.
00:26:45.000 --> 00:27:00.000
Erik Mogensen: Yeah, and I think, too, Stu, it’s worth noting, like, yeah, I’m proud of what we’ve done here, but there’s a lot of really good operators out there that have done this, too. You know, having grown up in Buffalo, which I’ll call, like, the Eastern Midwest of the Midwest.
00:26:59.000 --> 00:27:00.000
Stuart Winchester: Yeah.
00:27:00.000 --> 00:27:10.000
Erik Mogensen: Right? There’s really well-managed ski areas that focus on the food and beverage, that focus on the authenticity, um, that drive a ton of other revenue.
00:27:10.000 --> 00:27:23.000
Erik Mogensen: Um, that are creative, uh, in that way, and I think we just have to be accepting of those things. We have to be accepting of them, we have to share what works, uh, share what doesn’t work, and collaborate, um.
00:27:23.000 --> 00:27:29.000
Erik Mogensen: And and then we’ll be fine. We’ll be fine. These little skier is have a huge advantage.
00:27:29.000 --> 00:27:39.000
Erik Mogensen: in the fact that they are… they are run by authentic and passionate people. That… they… they are… they are run…
00:27:39.000 --> 00:27:46.000
Erik Mogensen: not as a profit center. Um, and yes, they need to be profitable to be sustainable and have reinvestment, right? But…
00:27:46.000 --> 00:27:51.000
Erik Mogensen: These little ski areas have such a remarkable advantage over some of the big areas.
00:27:51.000 --> 00:27:57.000
Erik Mogensen: and and how they’re managed and what their direction looks like. We just have to take advantage of it and talk about it more.
00:27:57.000 --> 00:28:06.000
Stuart Winchester: this is just the beginning of the story, too. All right, let’s switch over to Andy Pass, and, you know, my questions around Black, when you were initially taking it over, were…
00:28:06.000 --> 00:28:24.000
Stuart Winchester: how many retro ski areas does New England have room for in a market? Like, Mad River Glen has crafted its whole image around being this retro ski area. You know, they groom, they make snow up to 2,000 whatever feet, the single chair is a 1940 whatever, but they rebuilt it in 2007, so…
00:28:24.000 --> 00:28:27.000
Stuart Winchester: It is a well-maintained place.
00:28:27.000 --> 00:28:42.000
Stuart Winchester: as sort of like a museum. It’s… it’s… it’s… the facade is old school, and it skis that way, but really, it’s… it’s been well tended to. Smuggler’s Notch is another one of those that feels like 1960s, around 1960s haul lifts, including.
00:28:42.000 --> 00:28:57.000
Stuart Winchester: One of the longest in the country, the Madonna lift. Uh, and I saw black in that same mold and said, okay, how many of these do we have room for? But Smuggs is, at the end of the day, a awesome ski area, and you added it to IndyPass. I mean, how big of a victory is that for New England skiers?
00:28:57.000 --> 00:29:03.000
Stuart Winchester: to now have Smuggs, Jay, Waterville, all these ski areas on the one pass.
00:29:02.000 --> 00:29:11.000
Erik Mogensen: I mean, look, you’ve got… you’ve got Smogs, you’ve got Jay, you’ve got Bolton, you’ve got Cannon, you’ve got Waterville, um.
00:29:11.000 --> 00:29:28.000
Erik Mogensen: we’ve really leveled the playing field in the East, and it’s exactly what we intend to do in other places of the country, and also around the world. Uh, and I think what we’re proving here in New England, there’s been a lot of focus with IndyPass in New England over the last two years, and a lot of that has to do.
00:29:28.000 --> 00:29:44.000
Erik Mogensen: With Black Mountain and our move and our things there. But what we’re proving we can do here, we are going to replicate in other markets. There’s no question in my mind. And I think what we’re going to replicate is the fact that you don’t have to be epic. You don’t have to be iconic.
00:29:44.000 --> 00:29:50.000
Erik Mogensen: to be a really stable, well-earning business. You can be part of an independent group.
00:29:50.000 --> 00:30:09.000
Erik Mogensen: and still push and plow forward, and compete. So, you know, and I… look, I don’t judge a ski area by its vertical. Don’t judge a ski area by how many high-speed lifts it has. I think that’s the mistake that we keep getting pulled into in skiing. And our… it’s the mistake that we make as well as operators, and we…
00:29:53.000 --> 00:29:54.000
Stuart Winchester: Yeah. Okay.
00:30:09.000 --> 00:30:16.000
Erik Mogensen: we pass that mistake on to the consumers, right? Bigger is not better, it’s just bigger.
00:30:16.000 --> 00:30:33.000
Erik Mogensen: Faster is not better. It’s just faster, right? More lifts. Sure, that sounds great, but you have to pay for those lifts as well. And so that is going to there’s that money doesn’t just come from the sky that that money is going to be passed on to the consumer.
00:30:33.000 --> 00:30:41.000
Erik Mogensen: And the more and more we continue to do that, the more and more expensive and exclusive skiing’s gonna become. So, again, I’ll bring it back to…
00:30:42.000 --> 00:30:51.000
Erik Mogensen: One of the greatest advantages these places have are being small, are having slow lifts, are being independent, are being authentic. And that’s exactly what Smugs is.
00:30:51.000 --> 00:31:01.000
Stuart Winchester: However, SMUGS also has 2,600 feet of vertical, 1,000 acres of skiing, and 322 inches of average snowfall. The numbers do help.
00:31:01.000 --> 00:31:08.000
Erik Mogensen: They do, but I’ll leave the numbers to your spreadsheets that I can barely understand at this point.
00:31:01.000 --> 00:31:03.000
Stuart Winchester: The numbers do help, though, it’s offline.
00:31:06.000 --> 00:31:10.000
Stuart Winchester: Well, that makes two of us and probably everyone else.
00:31:08.000 --> 00:31:11.000
Erik Mogensen: Those will speak for themselves.
00:31:10.000 --> 00:31:16.000
Stuart Winchester: Yeah, so having Jay and Smugs on there is an awesome combo. You know, I think that…
00:31:16.000 --> 00:31:28.000
Stuart Winchester: Indy and Doug before you, when Doug… I know Doug’s still heavily involved, but the founder of the Indy Pass, Doug Fish. I think you have done a great job of building these little nodes of skiing.
00:31:28.000 --> 00:31:44.000
Stuart Winchester: around the country, and now around the world. So the… the donut hole has always kind of been Colorado, Utah, Tahoe, and that’s because that’s where Epic and Icon logically went. Those are the three biggest ski markets. But I want to talk a little bit first about the Midwest, where.
00:31:44.000 --> 00:31:59.000
Stuart Winchester: Indy built a really nice network, and you have a lot of ski areas in the Midwest. You have… 37. Uh, you’ve had some big departures this year. Lutzen, Granite Peak, and Snow River, run by Midwest Family Ski Resorts.
00:31:59.000 --> 00:32:16.000
Stuart Winchester: Went over to Icon, and Lutzen is, for the listeners, biggest ski area in Minnesota. It skis like a New England ski area. Granite Peak, you know, lots of high-speed lifts. Charles Skinner really turned that place from a dump into something nice. And the Snow River’s on the come up. It’s in a nice snow belt in Michigan.
00:32:16.000 --> 00:32:19.000
Stuart Winchester: Uh, you know, how much…
00:32:19.000 --> 00:32:27.000
Stuart Winchester: Did you see those as drivers of IndyPass sales in the Midwest? And how concerned, if at all, are you that they departed?
00:32:26.000 --> 00:32:41.000
Erik Mogensen: Well, look, let’s… let’s talk… I mean, the moose in the room here is that that… that loss sucks for us. Like, there’s no way around it. Um, it… it… it’s a bummer. It stings. Uh, I really like Charles Skinner. I really like Charlotte. I think they’re both.
00:32:32.000 --> 00:32:34.000
Stuart Winchester: Yeah. Okay.
00:32:41.000 --> 00:32:57.000
Erik Mogensen: really great operators. They’re very, very smart. They’re very, very sharp. We had a we had a great call around when we kind of showed them what the revenue was in their last season, and we talked through it, and very, very amicable. I’ve always relied. Have some great, you know, dinner conversations with Charles.
00:32:57.000 --> 00:33:12.000
Erik Mogensen: And and I think they’re great. They they have to make a move. They made a business decision to go to Icon and Icon makes that very, very, very attractive. You know whether or not that initial sales pitch.
00:33:12.000 --> 00:33:29.000
Erik Mogensen: translates into the long-term vision? I don’t know. I firmly believe that, you know, Midwest skiers are some of the most authentic and purposeful, you know, skiers on the continent, and they’ll figure it out. I think we have lots of options, there’s no question.
00:33:29.000 --> 00:33:38.000
Erik Mogensen: But none of them are going to be quite like those Midwest family resorts. And so we’ll have to see what happens. It stings, but I don’t.
00:33:38.000 --> 00:33:42.000
Erik Mogensen: What I’ve really learned about Indy is that.
00:33:42.000 --> 00:33:47.000
Erik Mogensen: Our our strength is in the diversity of of.
00:33:47.000 --> 00:33:56.000
Erik Mogensen: the resorts that we’ve put together. It’s not on a… it’s not on a single one resort, or a single resort operator. Um, so…
00:33:56.000 --> 00:34:01.000
Erik Mogensen: I hate losing resorts, but I’m never afraid to lose them and/or replace them if necessary.
00:34:01.000 --> 00:34:12.000
Stuart Winchester: So, when they go to ICON, there’s a couple different tiers for ICON. So, Midwest family went to the traditional 7-5 tier of 7 on full ICON, 5 on ICON base. Today.
00:34:12.000 --> 00:34:19.000
Stuart Winchester: I kind of announced that Cabaret, a former IndyPass partner that actually just left Indy, was a founding member in 2019.
00:34:19.000 --> 00:34:32.000
Stuart Winchester: left for Icon. That news just broke. I don’t know if you have any thoughts on that. Buck Hill similarly left Indy for Icon today, a couple of years ago. Is that too new to process, or what are your thoughts on Cabra Fact?
00:34:31.000 --> 00:34:48.000
Erik Mogensen: Yeah, I think it’s exactly the same where, you know, we, we, you know, Cabrifay is a great ski area. Um, we’re sad to see them go. We, you know, look, they’re independent for a reason. They get to make their choice. They’ve made their choice. They’re going to go to Icon. The consumers can make their choice of where they go and where they want to.
00:34:48.000 --> 00:35:05.000
Erik Mogensen: they want to spend their time and money. You know, we’re going to fight as hard as we can to drive as much value for the operators and the consumers as possible. I can tell you, we had some people that had left for that icon two day product that now want to come back because of the payout.
00:35:02.000 --> 00:35:04.000
Stuart Winchester: Okay.
00:35:05.000 --> 00:35:22.000
Erik Mogensen: Or lack thereof. So, look, none of this is static. One thing I can absolutely guarantee everybody on the pass and everyone listening to this is, is this is going to happen every single year forever. You’re going to have people come, you’re going to have people go. And we’re all going to think it’s way more consequential.
00:35:10.000 --> 00:35:11.000
Stuart Winchester: Mmhm.
00:35:22.000 --> 00:35:33.000
Erik Mogensen: than it actually is. The reality is, is that indie sales for the last 7 seasons continue to go like this, and we’re directing more and more.
00:35:33.000 --> 00:35:39.000
Erik Mogensen: revenue, meaningful revenue to these independent resorts. And that’s not going to stop.
00:35:39.000 --> 00:35:43.000
Stuart Winchester: Yeah. The, uh… another place you have…
00:35:43.000 --> 00:35:45.000
Stuart Winchester: Good.
00:35:46.000 --> 00:35:55.000
Stuart Winchester: cluster is the Pacific Northwest. Mission Ridge and Blacktail, which are jointly owned, recently announced that they left, and I reached out.
00:35:55.000 --> 00:35:57.000
Stuart Winchester: to…
00:35:57.000 --> 00:35:59.000
Stuart Winchester: Mission Ridge.
00:35:59.000 --> 00:36:06.000
Stuart Winchester: COO and GM Matt Neubauer, and I just asked him, you know, what’s going on, and this was his email, this is a quote.
00:36:06.000 --> 00:36:15.000
Stuart Winchester: Mission Ridge’s agreement ran through the end of the 25-26 season, and we declined to seek a new one. Being independent means making the calls we think are right for the mountain long term.
00:36:15.000 --> 00:36:32.000
Stuart Winchester: So, that’s basically echoing what you just said, the mountains will make the right decision. Uh, Blacktail’s situation is different. This is a continuation of the email. Uh, they reached out to establish a new agreement before the old one ended and did not get engagement on it. Indy did reach out after passes, went back on sale September 1st, but by then, Blacktail had moved on.
00:36:32.000 --> 00:36:42.000
Stuart Winchester: and was preparing for the season ahead. So that was the rationale that I have for Matt. He didn’t want to talk about it further publicly, but that was his on-the-record statement.
00:36:43.000 --> 00:36:59.000
Erik Mogensen: Yeah, I, I, you know, look, Stu, I, I think as good as it is for your ratings, you know, I, we’re not gonna hang out every, every scary as, you know, laundry and every single conversation. Um, I would disagree with how that was had. I think, I think one of the greatest things about India is we have.
00:36:53.000 --> 00:36:55.000
Stuart Winchester: Mmhm.
00:36:59.000 --> 00:37:09.000
Erik Mogensen: 300-plus resorts around the world. One of the hard things about Indy is that we have 300-plus resorts around the world. It’s a lot of contracts to manage, it’s a lot of things.
00:37:06.000 --> 00:37:07.000
Stuart Winchester: Okay.
00:37:09.000 --> 00:37:19.000
Erik Mogensen: I could, like, tell you from the ski area operating, um, perspective, like, I feel everything’s nice and chill all summer, and we’re doing really good, and then all of a sudden it’s, you know.
00:37:19.000 --> 00:37:35.000
Erik Mogensen: September 1st, and it’s like, wow, we got a lot to do in the next 60 days before we make snow. And I think every single ski area operator runs through that. Uh, and there’s a lot going back. Stu, sometimes I have to go look at your spreadsheets to understand who’s on the pass.
00:37:35.000 --> 00:37:52.000
Erik Mogensen: That’s why we usually give everything to you ahead of time so that you can, like, count them up and do the math and do everything. So it’s hard. But I would say, that team at Blacktail is world class. Jesse is and is incredible. We’ve I’ve always had a great relationship with Jesse.
00:37:52.000 --> 00:38:08.000
Erik Mogensen: We’d welcome them on the pass. I don’t think that that’s changed. And I think that Blacktail and Mission Ridge are two very different ski areas. And I’m really fascinated and hopeful that they figure out a way.
00:38:08.000 --> 00:38:10.000
Erik Mogensen: how to make the whole thing work between the two of them.
00:38:10.000 --> 00:38:28.000
Stuart Winchester: Yeah, you still have a really nice set of resorts out there with White Pass, and 49 Degrees North, and Mount Hood Meadows, and Bluewood, and Brundage, and Tamarack. And Tamarack’s interesting, because so Tamarack, and I want to clarify this, I’ve actually gotten a lot of inquiries about this, people emailing me telling me my charts are wrong.
00:38:28.000 --> 00:38:43.000
Stuart Winchester: Uh, which… which happens, you know, they’re… they’re big and… and, uh, unwieldy, so I get things wrong, but that’s… they’re always a work in progress. But, uh, they’re telling me Tamarack’s not in the past because they joined Icon today, which… which obviously they did. Uh…
00:38:43.000 --> 00:38:46.000
Stuart Winchester: So what’s going on with Tamarack? Are they on Indy?
00:38:46.000 --> 00:38:59.000
Erik Mogensen: Tamarack’s on Indy, um, you know, we’re excited about Tamarack, we’ve always been excited about Tamarack. Again, Scott, really great operator, um, super smart guy, great ownership group.
00:38:59.000 --> 00:39:13.000
Erik Mogensen: You know, I think we could probably comment on that a little bit further. But you know my job is not to speak for these resorts, Stu. My my job is to support them, and there’s a difference between supporting them and speaking for them.
00:39:07.000 --> 00:39:08.000
Stuart Winchester: Yeah. Okay.
00:39:13.000 --> 00:39:20.000
Erik Mogensen: So, I’ll always support them, and what Tamarack decides to do and where they decide to sit is good, but.
00:39:20.000 --> 00:39:23.000
Erik Mogensen: I’m comfortable saying that Tamarack’s on Indy.
00:39:23.000 --> 00:39:37.000
Stuart Winchester: Yeah, in general, you know, when Buck Hill joined the Icon 2 Day last year, you said adios. I think that’s what was my understanding from a distance, correct me if I’m wrong. What was different about the Tamarack situation? Why are you making the exception for Tamarack?
00:39:37.000 --> 00:39:52.000
Erik Mogensen: Look, I think, look, Icon’s aggressive. They’re aggressive. They’re trying to add as many people as they possibly can to that two-day pass. You know, I think that there’s a lot of promises on that, and I think they have a very aggressive sales team.
00:39:52.000 --> 00:40:08.000
Erik Mogensen: Which is which is good. They’re they’re, you know, trying to replicate what Indy has done. So we’ll just have to see what happens. But I would say that I would I would say that, you know, I have a I have a good relationship with a couple people over in that organization.
00:40:08.000 --> 00:40:15.000
Erik Mogensen: And I think they’re trying to figure out what they’re going to do. But there’s no question that we’re in, you know, pretty intense competition right now.
00:40:08.000 --> 00:40:09.000
Stuart Winchester: Mmhm.
00:40:16.000 --> 00:40:18.000
Stuart Winchester: All right, let’s…
00:40:18.000 --> 00:40:32.000
Stuart Winchester: wrap up on that. Let’s talk about Snow King, because the Indy Pass, you know, part of the reason the Indy Pass is able to grow so fast, from my point of view, was Doug had this great insight that the ski areas that Epic and Icon were overlooking.
00:40:32.000 --> 00:40:38.000
Stuart Winchester: Did have value collected onto a pass, and when you put them all together as a dynamite product.
00:40:38.000 --> 00:40:47.000
Stuart Winchester: and now I think, as you said, ICON’s going for that, and then you have the Snow Pass, and the Snow Pass, uh…
00:40:47.000 --> 00:41:02.000
Stuart Winchester: has signed Snow King as a partner, and that’s a long-time Indy Pass partner, and I can read these emails if you’d like, or you can just talk through it yourself on how you see the Snow King.
00:41:02.000 --> 00:41:03.000
Stuart Winchester: um…
00:41:03.000 --> 00:41:05.000
Stuart Winchester: conflict here.
00:41:05.000 --> 00:41:20.000
Erik Mogensen: Yeah, look, I wouldn’t really say that there is any controversy here. I think Snow King is staying on Indy. Um, you know, Ryan and I never discussed any sort of litigation, and I connected him directly with you so that he could, you know, explain the situation for himself.
00:41:21.000 --> 00:41:36.000
Erik Mogensen: Look, again, it’s not my job to get out in front and speak for these resorts. These are really great resorts with phenomenal and sophisticated operators, and they can speak for themselves. So, what I can do, Stu, is, you know, say, hey, Ryan.
00:41:36.000 --> 00:41:43.000
Erik Mogensen: you know, you’re on Indy, and you’re not on the snow pass, copy you on that email, and then you can read the email to the group.
00:41:43.000 --> 00:41:46.000
Stuart Winchester: Yeah, the email…
00:41:47.000 --> 00:41:50.000
Stuart Winchester: from Ryan said.
00:41:51.000 --> 00:42:06.000
Stuart Winchester: Stuart, hi Stuart, this is Ryan Stanley, General Manager of Snow King. That is correct, we’re going to remain on the Indy Pass this upcoming season and also offer two free tickets to the Snow Pass holders without receiving compensation, meaning Snow King will not receive compensation.
00:42:06.000 --> 00:42:16.000
Stuart Winchester: We are fairly desperate for some skier visits and are working on an offer for free and or $20 tickets to other pass holders as well. You know, I…
00:42:16.000 --> 00:42:18.000
Stuart Winchester: Ran this…
00:42:18.000 --> 00:42:20.000
Stuart Winchester: Bye.
00:42:20.000 --> 00:42:22.000
Stuart Winchester: Snow pass and.
00:42:22.000 --> 00:42:26.000
Stuart Winchester: I can read this email from Joe Heschen that he sent me today.
00:42:26.000 --> 00:42:33.000
Stuart Winchester: Uh, he said, Hi Stuart, I’m a bit confused by how this has become so complex. As stated, we have signed a signed agreement with Snow King.
00:42:33.000 --> 00:42:43.000
Stuart Winchester: While I would like to keep their details confidential, you are welcome to share ours. Our goal with this is not to profit, but rather to gather a group to work together for the betterment of the industry.
00:42:43.000 --> 00:42:56.000
Stuart Winchester: And then, it sounds like Snow King will be working with Indy and Snow Pass this season, which is great news for them. Thank you. Go Hessian. So, from Snow Pass’s point of view, Snow King is still on both passes.
00:42:57.000 --> 00:43:16.000
Erik Mogensen: I don’t know, Stu’s starting to sound like a big old, you know, fun high school group text message here. I don’t, I, you know, I don’t know what to tell you. Um, again, I think Ryan’s email’s pretty clear. I’m not gonna speak for Ryan, not gonna speak for Joe. Um, they’re definitely, you know, Snow King is definitely on the Indy Pass. We’re definitely gonna pay them, just like we have.
00:43:16.000 --> 00:43:21.000
Erik Mogensen: every year. We’re definitely gonna push a lot of visits to them. Um, you know, I’m not…
00:43:21.000 --> 00:43:33.000
Erik Mogensen: entirely sure, uh, beyond that. Uh, and, and, you know, Ryan, again, Ryan’s a really smart guy. I’ve enjoyed talking to him. Um, I’ve spent a…
00:43:33.000 --> 00:43:49.000
Erik Mogensen: few, you know, longer phone calls, and he is desperate for skier visits, and I get that. He’s a small skier area in the shadow of Jackson Hole, and doesn’t have a ton of population to pull from. Most of the population that’s coming through is destination visits.
00:43:49.000 --> 00:43:57.000
Erik Mogensen: And he needs more skier visits. We… we want Snow King to get skier visits. We… we… and if Ryan wants to comp…
00:43:57.000 --> 00:44:07.000
Erik Mogensen: you know, snow pass holders, or icon pass holders, or epic pass holders, then that’s fine. I think that’s great. But just because Ryan is going to comp.
00:44:03.000 --> 00:44:04.000
Stuart Winchester: Mmhm.
00:44:07.000 --> 00:44:18.000
Erik Mogensen: the Snow Pass doesn’t mean that he’s on the Snow Pass, and just because Ryan is going to comp Icon Pass holders, that doesn’t mean that he’s joined the Icon Pass. Um, all I can come down to, again.
00:44:18.000 --> 00:44:27.000
Erik Mogensen: is that Snow King’s on the Indy Pass, um, and from our perspective, they’re giving some free tickets to some of the other passes.
00:44:27.000 --> 00:44:35.000
Erik Mogensen: Hopefully, that checks everyone’s box for early September ski area drama.
00:44:35.000 --> 00:44:43.000
Stuart Winchester: All right, it is an ongoing story. I just have a lot of conflicting information from…
00:44:42.000 --> 00:44:56.000
Erik Mogensen: What we should do is just, you know, get Uncle Joe on the call, and get Ryan on the call, and you on the call, and we all talk about it, right? Like, I think it’s… I don’t think it’s that complicated, and frankly, it’s not that big of a deal.
00:44:56.000 --> 00:45:12.000
Erik Mogensen: And I question the intentions behind making it a big deal. I think that, you know, Snowpass is definitely looking for us to bite into a controversy, and we’re just not going to.
00:45:12.000 --> 00:45:22.000
Erik Mogensen: We’re just not going to. We… our job is to focus on the independent resorts and make sure that we drive more visits to more independent resorts.
00:45:22.000 --> 00:45:23.000
Erik Mogensen: more often.
00:45:23.000 --> 00:45:31.000
Erik Mogensen: It’s really simple, you know, and I think, I think in general too, Stu, like, you know.
00:45:24.000 --> 00:45:26.000
Stuart Winchester: Do you? Yeah.
00:45:31.000 --> 00:45:46.000
Erik Mogensen: What I’ve gotten from a lot of our operators and partners and people in skiing is they’re just very confused by this. And again, it might be good for ratings or listeners, but there is no litigation here.
00:45:46.000 --> 00:45:56.000
Erik Mogensen: there is no problem with Snow King. They’re a great, valued partner. You know, this comment, you know, an idea around democratizing skiing, right? Like.
00:45:56.000 --> 00:46:08.000
Erik Mogensen: you know, let’s let every resort build their own reciprocal deal with, you know, Jersey Joe’s commission-based software pitch, right? That’s cute, that sounds nice, but in practice, IndiePass exists for a reason.
00:46:08.000 --> 00:46:12.000
Erik Mogensen: It’s a lot more work for skier is and most importantly.
00:46:12.000 --> 00:46:20.000
Erik Mogensen: It’s much more fragmented and a confusing product for the consumer. A single pass with a single price point.
00:46:20.000 --> 00:46:22.000
Erik Mogensen: And a lot of partners.
00:46:22.000 --> 00:46:28.000
Erik Mogensen: you know, mitigates the patchwork of one-off deals, and that’s the whole reason IndyPass exists.
00:46:28.000 --> 00:46:37.000
Erik Mogensen: More people skiing more often at independent resorts, right? Like, we redirect tens of millions of dollars a year to independent operators.
00:46:38.000 --> 00:46:48.000
Erik Mogensen: Arguing that somehow the absence of the IndyPass is better for the industry is nonsensical at best. It would just give Icon and Epic a more…
00:46:48.000 --> 00:46:51.000
Erik Mogensen: More opportunity to eat our lunch. So…
00:46:51.000 --> 00:47:02.000
Erik Mogensen: you know, we can… we can dive into all the muddy details all day long, but I don’t see any controversy here. We’re super excited to have snowpack… I mean…
00:47:02.000 --> 00:47:04.000
Erik Mogensen: Snow King.
00:47:04.000 --> 00:47:15.000
Erik Mogensen: on the Indy Pass. Um, and, you know, maybe you just have to come up with a different color for it on your spreadsheet, like some sort of gradient between the two. Whatever you want to do, we trust you.
00:47:15.000 --> 00:47:32.000
Stuart Winchester: Let me zoom out a little and make this a little more conceptual, because you’ve told me before that IndyPass doesn’t make money, and I believe you’re still sticking to Doug’s original ratio of 15% for admin, which I doubt covers admin. So 85% traditionally was paid out to the resorts, correct?
00:47:33.000 --> 00:47:49.000
Erik Mogensen: Correct. Oh, yeah. Still the case. Yeah. No, I mean, look, we, we, you know, 85% of every passport just goes back to the independents. And remember, look, we, we take 100% of our money in on credit cards. We pay the ski resorts in check cash. Right. So we’re also eating that credit card fee.
00:47:33.000 --> 00:47:36.000
Stuart Winchester: Is that still it? Okay.
00:47:40.000 --> 00:47:41.000
Stuart Winchester: Mmhm.
00:47:49.000 --> 00:47:59.000
Erik Mogensen: So now you’re down to, you know, 12% in change. Running a pass like this, it’s not profitable. We never looked at this as being profitable.
00:47:52.000 --> 00:47:53.000
Stuart Winchester: Right.
00:47:59.000 --> 00:48:10.000
Erik Mogensen: I really bought IndyPass because I knew that Doug was going to exit and needed to exit, and I thought some of the other people that would buy the pass.
00:48:10.000 --> 00:48:21.000
Erik Mogensen: would view it more as a media company or a marketing opportunity, and less of something that I think is very important for the independents. So…
00:48:21.000 --> 00:48:39.000
Erik Mogensen: Uh, you know, Snowpass has committed to giving 80% back, um, to the resorts in their first year, and then something else beyond that, right? And the difference between 80% and 5%, right? You know, it sounds like 5%, but if you actually do the math, that’s a 25% difference.
00:48:39.000 --> 00:48:49.000
Erik Mogensen: Uh, and so we pay every resort the same percentage back of their, you know, top ticket price. We’ve always done that, um, so…
00:48:50.000 --> 00:48:55.000
Erik Mogensen: That’s what we do, that’s what we’ve done, that’s what worked, and that’s what we.
00:48:54.000 --> 00:48:59.000
Stuart Winchester: So to zoom out to the conceptual level a little bit here, I want to look at…
00:48:59.000 --> 00:49:09.000
Stuart Winchester: Snow King’s neighbor, Jackson Hole. Okay, so Jackson Hole is on Icon. They’re also on Mountain Collective. You’ve taken a pretty firm stand that Indy.
00:49:09.000 --> 00:49:16.000
Stuart Winchester: partners should be exclusive with Indy. If you’re looking at a ski area like Snow King that is desperate for.
00:49:16.000 --> 00:49:18.000
Stuart Winchester: for visits.
00:49:18.000 --> 00:49:24.000
Stuart Winchester: why cut that pathway off? Why is it important to make indie exclusive and not say, okay.
00:49:24.000 --> 00:49:39.000
Stuart Winchester: case by case, if you’re, uh, you know, certain resorts, if we don’t have an exclusivity agreement with you, like, maybe you want to give, you know, Brundage a higher payout because they’re a destination and… and to be exclusive, but maybe some of these other ones, you give them all the tools in the toolbox. What…
00:49:39.000 --> 00:49:42.000
Stuart Winchester: Why is that not an option? Or is it an option?
00:49:40.000 --> 00:49:48.000
Erik Mogensen: Yeah, I just, I think it complicates things, number one. Number two, I just don’t find it very equitable. The great thing about IndyPass, look, I get…
00:49:48.000 --> 00:49:58.000
Erik Mogensen: There’s a lot of conversations all the time when we have a larger resort wanting to join, or has joined, or wants to renew about getting a bigger payout.
00:49:58.000 --> 00:50:08.000
Erik Mogensen: What I can tell you for as long as I own and run IndyPass, I’m going to treat every single resort the same. I’m not going to make special side deals.
00:50:08.000 --> 00:50:14.000
Erik Mogensen: That’s just what we’re going to do. I think it’s a mistake to do that.
00:50:14.000 --> 00:50:20.000
Erik Mogensen: Everyone’s going to get the same. Everyone’s going to be the same. Everyone’s going to get the same percentage payout.
00:50:14.000 --> 00:50:15.000
Stuart Winchester: It.
00:50:15.000 --> 00:50:17.000
Stuart Winchester: Mmhm.
00:50:20.000 --> 00:50:23.000
Erik Mogensen: No special deals.
00:50:23.000 --> 00:50:37.000
Stuart Winchester: So let me wrap on that point. So you added Smugs, your New England network is lights out. You know, like I said, Jay, Smugs, Cannon, Waterville, Saddleback, and a bunch of smaller places, including Black Mountain. Doug was concerned when he started the pass.
00:50:37.000 --> 00:50:48.000
Stuart Winchester: About dilution in the marketplace, and if you put too many ski areas in a market, you would both cannibalize their season pass, and drive down their yield, or their eventual payout.
00:50:49.000 --> 00:51:04.000
Stuart Winchester: you have filled in a lot more density, and when I’ve asked you about it in the past, you said that’s a data-driven decision, so can you break that down for us, and what gives you confidence that adding smugs is not going to take away from.
00:51:04.000 --> 00:51:08.000
Stuart Winchester: Fulton Valley, or Jay Peak, or Cannon, or Titus.
00:51:08.000 --> 00:51:23.000
Erik Mogensen: Well, we know exactly how many pass holders we’re adding every single year, right? We, we have a unique control over how many passes we sell, right? So we have, we know the data that comes in on one lever and we 100% control the amount.
00:51:11.000 --> 00:51:12.000
Stuart Winchester: Yeah.
00:51:23.000 --> 00:51:43.000
Erik Mogensen: of passes in that lever that we sell. So it’s just simple math, right? It isn’t even that complex of a spreadsheet. Uh, you wouldn’t even have to have it in a spreadsheet. So we need to add enough customers to make sure that we don’t over dilute Bolton’s payout or those things. And what’s remarkable is the data shows us this is, I think now our fourth season.
00:51:43.000 --> 00:51:49.000
Erik Mogensen: of owning and operating the IndyPass is that we just keep going in the right direction.
00:51:49.000 --> 00:52:04.000
Erik Mogensen: And that’s the reality. Like, JPEAK and Bolton’s payout, the check that they get from IndyPass and take to the bank to pay their bills and buy more chairlifts and more snowmaking pipe and pay their employees, is only getting bigger and bigger.
00:52:04.000 --> 00:52:08.000
Erik Mogensen: With smugs on the pass. And again, I cannot.
00:52:08.000 --> 00:52:23.000
Erik Mogensen: reiterate enough how sophisticated of an operator these guys are. Like, the DeLauriers are smart. They see the numbers, you know? Christian Knapp at PGRI, he sees the numbers. Steve Wright, these are smart guys. John Schaefer, the…
00:52:23.000 --> 00:52:27.000
Erik Mogensen: Really smart. You know, if they figure it out.
00:52:27.000 --> 00:52:30.000
Erik Mogensen: I think that that itself.
00:52:29.000 --> 00:52:38.000
Stuart Winchester: Yeah, Jay has been, uh, has recommitted to Indy several times, uh, through one-year contracts. All right, Eric, IndyPass is still on sale?
00:52:38.000 --> 00:52:56.000
Erik Mogensen: Uh, 80 Pass is on sale right now, yes. I think what we’ve announced is we’ve said tomorrow’s the day. I think we could go into midday Saturday. Um, it’s… it’s hard to tell, right? We look at a couple numbers, we look at people that have put things in their cart, and what the potential conversion rate is, and where things go, and…
00:52:56.000 --> 00:53:01.000
Erik Mogensen: the geography around them. We definitely have a very firm ceiling on what we’re gonna sell.
00:53:02.000 --> 00:53:10.000
Erik Mogensen: When we’re going to sell that through, that’s the hard part. But yeah, we’ve identified that tomorrow’s the day.
00:53:08.000 --> 00:53:16.000
Stuart Winchester: And this will be the end of 26-27 IndyPass sales guaranteed, or is there a chance for a flash December sale or something?
00:53:15.000 --> 00:53:30.000
Erik Mogensen: There is never a guarantee of anything in this thing. We are talking to some pretty major additions as well that I think would be meaningful, and we’ll have to decide if that’s a this year thing or a next year thing with them.
00:53:19.000 --> 00:53:20.000
Stuart Winchester: Okay.
00:53:30.000 --> 00:53:46.000
Stuart Winchester: I mean, you’ve already added over 40 new partners. India has more partners than Epic, Icon, Mountain Collective, Snowpass, and Mountain Collective Capital’s Powerpass combined around the world. So you’re saying we should expect or could expect more partners?
00:53:31.000 --> 00:53:32.000
Erik Mogensen: Alright.
00:53:46.000 --> 00:53:49.000
Stuart Winchester: In advance of the 26-27 winter?
00:53:48.000 --> 00:54:02.000
Erik Mogensen: Yeah, for sure. I mean, I can tell you that there will definitely be some more. And I think, Stu, it’s actually about 60 new additions. And I know you don’t like to count the cross-country ski areas, but we should maybe find a separate tab for them on the spreadsheet.
00:54:02.000 --> 00:54:04.000
Stuart Winchester: Yeah.
00:54:02.000 --> 00:54:12.000
Erik Mogensen: Every ski area matters to us here, whether it’s cross country or downhill or big or small. I think that’s what makes us different.
00:54:11.000 --> 00:54:27.000
Stuart Winchester: Yeah, you know, I didn’t start stop counting them out of malice. I stopped because I couldn’t really understand them, and the maps kind of looked like a brain scan, and some would leave, and it was just a lot. I was already trying to track too much.
00:54:27.000 --> 00:54:44.000
Stuart Winchester: I will take that piece of advice, though, and I will see if I can find a place where they make sense. Eric, really appreciate everything today, appreciate everything you’re doing with Indy and Black Mountain, and look forward to catching up with you again really soon.
00:54:44.000 --> 00:54:49.000
Erik Mogensen: Yeah. Thanks so much, Stu. Keep those spreadsheets going, dude.
00:54:46.000 --> 00:54:47.000
Stuart Winchester: Alright.
00:54:48.000 --> 00:54:51.000
Stuart Winchester: That’s all I do.
00:54:49.000 --> 00:54:52.000
Erik Mogensen: Yeah, I know. See ya.
00:54:51.000 --> 00:54:53.000
Stuart Winchester: All right, take care.
00:54:52.000 --> 00:54:53.000
Erik Mogensen: Bye.
00:54:55.000 --> 00:55:05.000
Stuart Winchester: All right, that was Eric Mogensen, director of IndyPass, owner of Black Mountain, responding to some of the questions.
00:55:06.000 --> 00:55:21.000
Stuart Winchester: initial conversation I had with Joe Heschen the other day. So, uh, that’s great. We have no more clarity on Snow King, and this episode went a little off the rails, because I need to… there’s gonna be a lot of experimentation here, guys.
00:55:21.000 --> 00:55:35.000
Stuart Winchester: Uh, the… the opening take, I’m realizing, I don’t know if I should be recording that before the guest. I think maybe I need to start with the guest, because otherwise, I end up having to cut myself short. So…
00:55:35.000 --> 00:55:39.000
Stuart Winchester: I want to get to some reader reaction.
00:55:39.000 --> 00:55:42.000
Stuart Winchester: To close us out today.
00:55:42.000 --> 00:55:44.000
Stuart Winchester: And…
00:55:44.000 --> 00:55:47.000
Stuart Winchester: The first comes from…
00:55:47.000 --> 00:55:49.000
Stuart Winchester: Matt Hart.
00:55:49.000 --> 00:56:03.000
Stuart Winchester: He said, really, this is in reaction to Brian Norton’s interview yesterday about Loon Mountain’s expansion. Matt Hart, really good, loved Brian’s description of the expansion and how they will make it work from an operations point of view.
00:56:03.000 --> 00:56:06.000
Stuart Winchester: Catcher’s mitt for snow, love it.
00:56:06.000 --> 00:56:21.000
Stuart Winchester: And then, and then Matt asks, did he give you grief for calling the Timbertown expansion that little one LOL? I, no, he didn’t, but, but it is, I mean, it was a 30 acre expansion on a huge ski area. So, uh, I don’t know, maybe, I think they, uh.
00:56:22.000 --> 00:56:36.000
Stuart Winchester: you know, I’m always the tourist, so anytime I’m asking these guys anything, they… I think that it sounds a little ridiculous, because they live it every day of their life. It would be like them asking me a question about my cats, you know, it’s something that I’m around every day.
00:56:36.000 --> 00:56:46.000
Stuart Winchester: All right, this is a comment from Robert, a paid subscriber, which is the way you can interact with the show is to be a paid subscriber to the Storm Skiing Podcast.
00:56:46.000 --> 00:57:00.000
Stuart Winchester: Robert says, again, of the Brian Norton pod yesterday, great second effort. Are you planning to stick to a drop time of about 4 p.m. Eastern time? What is your anticipated schedule? Daily, four days a week, three?
00:57:00.000 --> 00:57:07.000
Stuart Winchester: 4pm drop makes for a nice way to wrap up the day, at least for those in a compatible time zone.
00:57:07.000 --> 00:57:22.000
Stuart Winchester: And then Brian Bench, paid subscriber, says, ditto on sharing the anticipated schedule. We humans are creatures of habit, and so would be great to know when we can generally expect these to land. Excited for your chat with Eric today. Well…
00:57:22.000 --> 00:57:23.000
Stuart Winchester: Brian.
00:57:23.000 --> 00:57:26.000
Stuart Winchester: I have an amazing guest.
00:57:26.000 --> 00:57:29.000
Stuart Winchester: scheduled for…
00:57:29.000 --> 00:57:46.000
Stuart Winchester: September 24th at 11 a.m. Eastern, Brian Bench, the founder of Snow Schoolers, which is rethinking the way that we do ski lessons, which, as we all know, is somewhat broken right now. So, Brian, I am previewing your appearance, which you already know about.
00:57:46.000 --> 00:57:53.000
Stuart Winchester: So, no, but those are… those are really fair questions about cadence and drop time. So, uh…
00:57:53.000 --> 00:57:55.000
Stuart Winchester: The way I envision this…
00:57:55.000 --> 00:57:58.000
Stuart Winchester: It can’t be daily.
00:57:58.000 --> 00:58:07.000
Stuart Winchester: Uh, it can be daily sometimes. There will be seasons, surge seasons. This is one surge season, post-Labor Day.
00:58:07.000 --> 00:58:15.000
Stuart Winchester: up to Christmas, when everyone’s getting hyped for ski season, everyone’s looking for content, everyone’s debuting their new terrain, their new lifts.
00:58:15.000 --> 00:58:25.000
Stuart Winchester: Then there’s going to be March, that’s another surge season, where all the new passes are coming out. And I’ll do a daily, maybe sometimes a couple times a day.
00:58:25.000 --> 00:58:31.000
Stuart Winchester: for, uh, for the first couple weeks of March, because that’s when Icon, Epic, Indy, everyone drops.
00:58:31.000 --> 00:58:32.000
Stuart Winchester: Um…
00:58:32.000 --> 00:58:36.000
Stuart Winchester: Then there’ll be down seasons. I have to ski.
00:58:36.000 --> 00:58:56.000
Stuart Winchester: It’s, uh, I have to get out there, you know, I ski about 50 days a year, I hit 50 or 60 different ski areas, and I do most of that skiing from the 1st of January, uh, till about mid-April or so. So, with the exception of that March surge season, I’m gonna shoot for 2 podcasts per week.
00:58:56.000 --> 00:59:08.000
Stuart Winchester: January, February, and the rest of ski season. Sometimes fewer, because there are going to be a couple weeks where I go away and might not be able to do them.
00:59:08.000 --> 00:59:21.000
Stuart Winchester: I’m aiming for about 100 shows a year, plus 10 storm skiing podcasts, but these from the first 3 days are very replicable, I think I can keep doing them. As far as time, I can’t commit to a time, and the reason is, the reason the show is not live.
00:59:21.000 --> 00:59:29.000
Stuart Winchester: Sometimes people are just not available at certain times. I know that nationally syndicated shows can say we’re on from noon to three.
00:59:29.000 --> 00:59:45.000
Stuart Winchester: you have to be available during that window. Uh, I want to be more flexible with my guests, because they are running ski areas, and I am asking them for a big favor to come on to the show, uh, and give some time and their perspective. Time, a very smart person once told me, is the most valuable thing you can give someone.
00:59:45.000 --> 01:00:02.000
Stuart Winchester: So I want to respect that. So today, it’s going to be late, because Eric was available later. And tomorrow, Friday, there won’t be a show, because I’m driving to Michigan. Big football game, Michigan, Oklahoma. This Saturday, I will be back. Monday, I’m going to have Matthew Zabranski.
01:00:02.000 --> 01:00:10.000
Stuart Winchester: He is from Midwest Skiers on, and we’re gonna have a good Midwest chat. It’s gonna be a little different what I’ve been doing. A little more, uh…
01:00:10.000 --> 01:00:15.000
Stuart Winchester: just hype around the Midwest and what’s going on there. We’re gonna talk a lot about the passes.
01:00:15.000 --> 01:00:31.000
Stuart Winchester: Uh, then on Tuesday, I’m scheduled to have Monarch General Manager, Chris Haggerty, on the show to talk about their new expansion, their joining Snowpass. Uh, well, their expansion was new last year. Um, their new master plan, especially, I want to hit that hard. And then, next.
01:00:31.000 --> 01:00:44.000
Stuart Winchester: Thursday, I have Tim and Pete Meyer, the general managers of Cabaret Peaks, Michigan, scheduled. And I still have… I plan to hopefully do a show Wednesday and Friday. Don’t have anyone booked yet. Sometimes I may not have a guest, and I may just…
01:00:44.000 --> 01:00:46.000
Stuart Winchester: Free talk. So.
01:00:46.000 --> 01:01:02.000
Stuart Winchester: That’s gonna be our show for today. Uh, we are brought to you today by my friends at Profile Search. A lot of you come to this podcast to hear from folks like Eric Mogenson, like Brian Norton, the GM of.
01:01:02.000 --> 01:01:04.000
Stuart Winchester: Loon, like Joe Heschen.
01:01:04.000 --> 01:01:21.000
Stuart Winchester: And they’re not available, but you know who knows who is available is Profile Search International. They are the only executive search and recruitment team in the world that is 100% focused on the ski industry. They have 30 years of experience, and they know.
01:01:21.000 --> 01:01:29.000
Stuart Winchester: who’s available worldwide, and they also know what jobs you need. Sometimes it’s hard to tell these days.
01:01:29.000 --> 01:01:44.000
Stuart Winchester: with all the data coming through and all the new platforms, digital ticketing and everything else, what jobs you even need. So they know what ski areas need to thrive. You can visit them at Profile Search International. I’m also happy to make that connection.
01:01:44.000 --> 01:01:45.000
Stuart Winchester: For you.
01:01:45.000 --> 01:01:53.000
Stuart Winchester: Please follow “The Storm” on YouTube and Instagram @stormskijournal. You can support “The Storm” with.
01:01:53.000 --> 01:02:07.000
Stuart Winchester: swag at stormskiing.myshopify.com, where you can pick up hats, t-shirts, whatever. The very best way to support the Storm and my mission of independent ski journalism is to upgrade to the paid tier of the Storm Skiing Journal and Podcast.
01:02:07.000 --> 01:02:17.000
Stuart Winchester: at stormskiing.com. That will not only get you the ability to interact with the podcast, it will get you everything below the paywall that I write, which is about 80% of the storm’s content.
01:02:17.000 --> 01:02:25.000
Stuart Winchester: Until next time, stay well, stay safe. I’m Stuart Winchester, and I’ll talk to you again Monday.
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