North Conway market is bizarre. Enormous amount of skier visits to go around but mismanagement and lack of investment has the market heavily lopsided to cranmore and BW. New quad at attitash is a step in right direction for vail to try and get back visits lost. I think there is space for an indy like Black in NoCo but it’s an uphill battle. Mt Abram is a good comp - operating on borrowed time with old lifts and snowmaking infrastructure that can’t go on forever, and no real shot at the $20 million investment it will take to replace. I sometimes wonder if nonprofit would be the best route for some of these places (like Black Mountain of Maine)- lean heavily into access for local and underserved communities. Maybe a better shot at financing $20 million from private philanthropy and government grant programs. I wonder if Granite Backcountry Alliance (a 501) will take a real hard look at Black.