Gunstock takes pandemic hit but finishes in black

GILFORD — Gunstock Mountain Resort was working on a banner year before the COVID-19 pandemic forced it to close its ski area earlier than expected.

Still, the county-owned attraction finished in the black.

Skier visits for the 2020 fiscal year were 147,747, down 9 percent from the prior year, said Tom Day, Gunstock president and general manager.

Estimated net income was $400,000 compared to $740,000 the previous year.

If not for the pandemic, skiing would likely have continued into April at many New Hampshire resorts.

Snow conditions were excellent in mid-March when the Gunstock ski area and others around the state closed over fears about spreading the virus.

“Until this hit, we were having a great season,” Day said. “Martin Luther King Jr. weekend was the busiest on record. The weather hit right on all the vacation periods.”

Operating revenue of $13 million in 2020 benefited from self operation of food and beverage service. The previous year, when Gunstock contracted out for those services, it had operating revenue of $11.4 million.

Earnings before interest, taxes, depreciation and amortization was $1.8 million, compared to $2.3 million in the prior year.

While ski operations make up most of Gunstock’s revenue, it also offers camping, a mountain coaster, zip lines, bicycling and Segways.

Day said that under the governor’s Stay At Home 2.0 plan, Gunstock plans to open its campground later this month, with social distance protocols, face masks for employees and minimal contact with guests.

What’s not clear is how the economic disruption of the pandemic, including lost jobs, could affect tourism spending this summer and beyond.

Brian Gallagher, who is on the Gunstock Area Commission, said repairs and maintenance are being done to gear up for next ski season.

“We’re assuming the ski season will go back to normal — nobody knows,” he said. “We’re keeping our fingers crossed that we’ll have the freedom to operate as a normal ski area going forward.”

Before the pandemic hit, it looked like Gunstock would be able to put away significant capital reserves for improvements and upgrades.

“Now, unfortunately those plans have had to be adjusted a little bit,” Gallagher said. “We’re just going to have to be careful and monitor pre-season ski tickets as they come in.”