Click to enlarge: Ski Rio (3)
Ski Rio, New Mexico (1989)
Ski Rio is a regional resort drawing primarily from southern Colorado and New Mexico. The resort opened in 1981, but was in bankruptcy by 1985. A subsequent sale ended in foreclosure and the failure of the S&L that took title through foreclosure. Through this period, the resort continued to operate, and we were asked to appraise the resort for the FDIC. The resort's troubled past required a thorough market analysis in order to derive a reliable income projection. Lack of lodging was a problem, and the resort also had development land with little apparent marketability. This was a challenging assignment requiring a sound analysis of the resort's strengths and weaknesses and a good understanding of the ski market.
102 W. Washington St. Suite 224 
Marquette, Michigan 49855 (906)228-9133 bclosser@closserassociates.com