GreenMountain - Case Study Green Mountain Resort(Dis)solves the Turnover Problem Green Mountain Resort was not expected to be in business for very

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Case Study Green Mountain Resort (Dis)solves the Turnover Problem Green Mountain Resort was not expected to be in business for very long, not that anyone was making predictions. It was a small resort with golf, tennis, and, most notably, some skiing-on machine made snow for the most part-set in the Appalachians. It was a fair distance from major population centers and had none of the history of the famous southern spas of an older era, places like the Homestead. But it didn't have to stand fully on its own: it was built as a draw for buyers of vacation homes at Green Mountain. The resort was the center of sales hospitality and an attractive amenity of home owner- ship. Being a property owner got you membership in the resort with ski passes, discount golf, and the like. Salespeople pointed to the resort as a symbol of their commitment to community: they were not just selling lots; they were offering a lifestyle. Of course, the salespeople also knew that when the real estate sold out, the function of the resort as a sales tool would disappear along with the sales staff, and, if this were like other similar develop- ments, the resort would lose its luster and perhaps even go out of business. The resort wasn't there for vacationers but for buyers. Soon, there would be no more buyers. And soon after that, the resort would have to make it on its own, as only a resort. .,1he .top management of Green Mountain at this time came to the opera-". tion when the original developers fail.~d. They were sent in by the investment bank that had financed the original operation to put the place in order and get it sold. But the bank's workout team fell in love with the rural beauty and lifestyle and bought it themselves. Actually, it was a very complex plan that structured even- tual ownership for the homeowners, with part ownership by the remaining management company that would con- tinue to run the operation. The former bankers were committed to building an actual community, one they wanted to stay in themselves, and to having the resort become a first-class operation on its own. They were explicit about their goal: make sure that Green Mountain, the com- munity and the resort, didn't go to seed when the land sold out. With the new structure, the resort manager was an owner. He decided to stay on, motivated by his ownership share as well as the opportunity to have his own show, no longer just an adjunct to sales. Gunter had been part of the original man- agement and had expected to eventually leave for another resort job, enacting a pattern typical in the hospitality industry. But now he was an owner, not just an employee, and he had a vision of a first- class mountain resort.
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This note was uploaded on 02/10/2012 for the course OLS 386 taught by Professor Staff during the Spring '08 term at Purdue University-West Lafayette.

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GreenMountain - Case Study Green Mountain Resort(Dis)solves the Turnover Problem Green Mountain Resort was not expected to be in business for very

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