Gary Kiedaisch, Russ Dumais, Brian Gallagher & Rusty McLear: Keep Gunstock on its upward trajectory

Gunstock Mountain Resort just completed the two best years of financial and operational excellence in its 84-year history and is postured for a repeat in fiscal year 2023.

Under the guidance and leadership of three former and one present Gunstock Area Commissioners, the Gunstock management team, led by President and General Manager Tom Day, transformed Gunstock, from an operation that had little ability to grow profitably and sustain its infrastructure, to a for-profit business that grew its revenues $4 million in a single year. Gunstock has an enviable balance sheet and is sustainable without reliance on Belknap County taxpayers for any tax monies for annual operations.

During fiscal year 2022, gross revenue was $18.2 million, $10 million favorable to fiscal year 2018. Cash on hand at the end of fiscal year 2022 was $7.7 million, more than enough to fund $3.85 million in capital projects, annual maintenance and ski area preparedness for the fiscal year 2023 ski season. Historically, prior to fiscal year 2021, Gunstock relied on a revenue anticipation note guaranteed by the county to finance summer operations and cash flow to bridge to the following winter season. That was not needed in fiscal years 2021 or 2022, and is not needed this summer for fiscal year 2023. Gunstock’s fiscal year 2023 plan forecasts $18.95 million revenue with $7.9 million cash on hand at year end on April 30, 2023.

Over the past three years, debt has been paid down by $2,134,000. Annual payments to Belknap County increased by 41% to $247,000 and $315,000 for fiscal years 2022 and 2023. This is the highest paid in many years since the GAC enabling act was put into place. Once again, no public taxpayer dollars are associated with this success.

The staff managed daily ticket capacity to reduce crowding and ensure the best guest experience. They increased pre-committed sales through early offerings in ski school seasonal programs, preferred parking, and seasonal lockers. They added a new ski and snowboard rental building to improve the overall rental experience and increased rental income to over $1.1 million. This season saw record breaking pass sales, and increased revenue 40% over three years. Those three years also saw an increase in outreach participation and revenue by 36%.

Gunstock added new software to allow campground booking online and increased campground revenue 33% over past three years. Staff continues to take advantage of new software technologies in snowmaking and grooming to reduce energy usage and increase the quality of the snow surface. Gunstock saw the highest customer satisfaction net promoter score, well above its peer operators in New Hampshire.

Gunstock is using a new business operating model that focuses management on activities that have a contribution margin, and minimizes or eliminates those that don’t. They approved a timber management plan for proper harvest of Gunstock's timber assets well into the future.

The mountain is in the process of paving a parking lot, and installing air conditioning in the historic base lodge for an improved guest experience. Gunstock also has a comprehensive and visionary potential master plan that could double the size of the skiable terrain, and most importantly grow revenues from new sources, reducing reliance singly from lift ticket sales and prices to support and sustain the business.

Gunstock is staffed with a professional leadership team and associates that know the business and have many years’ experience running and developing resorts, with a particular emphasis on ski area management.

These facts are all supported by audited financial records and Gunstock Area Commission monthly minutes. These accomplishments should give all Belknap County residents and taxpayers a high level of comfort that their county-owned asset is in excellent and capable hands, producing record results and has a clear vision for a sustainable future. This was achieved in short order in partnership with the GAC and management when the true spirit of the 1959 Enabling Act was put into play over the past three years. That law was put in place to separate politics from the operations at Gunstock Recreation Area and enable leaders to run the business without political interference. However, we are very concerned with the radical change of talent recently appointed to the Gunstock Area Commission and their questionable ability to retain talent and sustain the business as planned. In a matter of months, the commission has gone from highly experienced and accomplished business leaders to inexperienced commissioners holding a majority that is in alignment with what the radical arm of the Belknap County Delegation wants for Gunstock and is inherently blind to Gunstock’s future. We are personally very pleased with what has been accomplished in the past three years with new plans and direction built on the shoulders of prior management and commissioners to provide competent stewardship. We sincerely hope the new majority will learn quickly from the management team and seek guidance from those who served successfully prior to them to assure Gunstock can continue its current trajectory and not go backward.

You, the residents, taxpayers and voters who are the true owners of Gunstock, must continue to diligently monitor them and the county delegation for accountability and the truth. Gunstock Mountain Resort today is a rock-solid business with a strong balance sheet, good visionary plans and a valuable asset to all of us. Don’t let political agendas and appointments change that.

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Gary Kiedaisch has served as a Gunstock Area Commissioner since 2018. Russ Dumais served as a commissioner from 2015 to 2020, Brian Gallagher served from 2017 to 2021, and Rusty McLear was a commissioner from 2019 to 2022.