Gunstock rolls out first phase of master plan with hotel

GILFORD — The first phase of a proposed major expansion plan for Gunstock Mountain Resort would take place on the east side of the property and include construction of a slopeside hotel.

The concept was presented at the Gunstock Area Commission meeting on Wednesday.

The hotel is seen as a critical component because it would generate revenue for the facility which would offset some of the cost of the $18.7 million project.

“Having other income centers takes some pressure off making money from lift tickets and so helps to keep ticket prices affordable,” Gunstock President and General Manager Tom Day told the meeting.

The so-called Eastside phase of Gunstock’s overall master plan would entail installation of a new high-speed detachable quad chairlift to the summit of Gunstock Mountain, the creation of 70 acres of new skiing terrain with snowmaking throughout, the construction of a 10,000-square-foot guest services building, and parking lot with room for 400 vehicles.

The cost to complete the Eastside phase is estimated at $18,650,000, the meeting was told.

“This is an exercise in the art of possibilities,” Gary Kiedaisch, the commission’s vice chair, said during the presentation.

He said the Eastside was being proposed as the first segment of the three-phase master plan because the inclusion of the hotel would make it the most lucrative.

The plan envisions that a hotel operator would pay $5 million or so for the rights to build the hotel on land which would be leased from the county-owned recreation facility. The hotel would then pay a percent of its net receipts once the facility is in operation. In addition to paying for the cost to build the hotel, the operator would also pay to construct the road to the facility.

Commissioner Rusty McLear, who spent 36 years in the hotel business, said the hotel, which would be built on a site with an unobstructed view of Lake Winnipesaukee, would have enormous appeal. He anticipated that it would be heavily booked during the summer months as well as during ski season. The hotel would set Gunstock apart from other recreation facilities, he said.

Kiedaisch said the hotel would provide Gunstock its largest return on investment. He said that money which an operator would pay for the rights to build the property would decrease the actual cost to Gunstock to expand skiing to the Eastside.

Commissioner Peter Ness said the proposal would require in-depth study and detailed financial analysis. Moreover, he said Gunstock management would need to confirm with the appropriate authorities whether any aspect of what is being proposed would need prior governmental approval.

Commissioner Jade Wood noted that the project would need to be approved beforehand by the county commissioners and county delegation.

McLear said the hotel would likely have around 120 rooms. He said there was enough demand for hotel space in the immediate area that the addition of a hotel at Gunstock would not affect other lodging establishments.