It’s been a year since we saw this story about Red Mountain Ski Resort in Rossland, BC, Canada. At the time, the independent (and staunchly-so) resort was upfront with its customers. Investments were needed to keep Red Mountain resort competitive with other resorts in Canada and the United States.
CEO Howard Katkov floated an unusual idea: a Red Mountain crowdfunding campaign, in which folks with skiing in their blood could invest from $1000 to $25,000 in the award-winning ski resort.
At the time it was little more than an interesting concept. Fast forward 12 months and things have progressed. The Red Mountain crowdfunding campaign is no longer just a curious idea – it’s live.
Go to FrontFundr and plop down a minimum $1,000. You’ll get exclusive access to the resort’s new clubhouse and 5 transferable lift tickets for the next 5 years. Oh, and one more thing. If they meet their goal, congratulations – you just bought your own little slice of a ski resort.
Red Mountain Crowdfunding: The Details
A little clarity before you whip out Mr. Visa card. The Red Mountain Crowdfunding campaign officially went live on August 14 of this year. As of this writing, crowdfunders have Plopped down $236,550 to buy the resort, with another $450,550 being processed.
They’re aiming to raise $10,000,000 Canadian Dollars, with 143 days to go.
Katkov has been clear that he will retain control of the Resort’s direction. With that said, you really are getting equity in Red Mountain if you lend your support. Commit your funds and you’ll get Class D shares in the company should the crowdfunding be successful.
You’ll also get perks dude, ranging on the size of your investment. Lift tickets, clubhouse access, custom skis or snowboard and free accommodation on 6 of Red Mountain’s mountain-top cabins are all on the table.
That and the ego boost that, hell yeah dude, you really own a piece of a ski resort.
Should adequate funds not be met, all investments will be returned. Katkov says the crowdfunding campaign is a way to give Red Mountain back to the people. That’s clearly a snub at the many ski resorts that have been snatched up by Vail Resorts of late, in addition to sale of Intrawest to Aspen Skiing Company in Colorado.
That and the recent sale of Deer Valley in Utah to a yet-unnamed ski company cast Red Mountain as ‘the little guy that could’ in a ski industry with a decidedly corporate feel in the next five to 10 years.
Learn more about the Red Mountain crowdfunding campaign on the resort’s official website or on FrontFundr. Fight the man, dude!