IMO Snowballs is right ... in the short term, people with ties, will stay. The long term is a different story. While there is a lot to do in North Creek that doesn't depend on Gore .... some component of long term real estate value is tied up in the mountain.
If Gore's ability to deliver a good ski experience declines, real estate values, both residential and commercial, will decline, or rise more slowly than the VT competition.
Day skiers, and those with flexibility, are key to most ski areas, not just Gore. The 20% passholder number that Mike quoted is actually a reasonably good number. Tony Lanza at Belleayre told me his revenue was 7% passholders and he'd be very happy with 20%. Even if a resort is getting 50% of revenue from passholders - which seems unlikely - non-passholder revenue will always be the difference between success and failure.
Snowballs... I'm not exactly sure what you mean by "stand and deliver." If you are talking about upgraded snowmaking and more midweek lift ops .... I don't see it happening. I'm not saying next year won't be good, but I think it's unlikely your going to see MORE spending on anything in 2010/2011. I suppose it's possible that ORDA could lose funding and leave Gore's budget untouched. But that doesn't seem likely to me.
Even if the Gore budget is only cut by 10% - roughly a million - that is going to have a big impact on ability to spend on things most of us care about. IMO how much impact that reduced spending will have on Gore's product and revenue will depend on some factors that are outside of ORDA control - the economy and the weather.
I think, this budget crisis will eventually pass. How well we come thorough it in the next couple years may be more closely tied to the
MegaHarv Snow Totals than any other factor.