Liftopia Facing Bankruptcy
According to a filing in the California Northern Bankruptcy Court, Liftopia is facing Chapter 11 restructuring. Due to more than $3 million in unsettled commercial fees, Aspen Skiing Company, Alterra, and a number of other entities filed an involuntary bankruptcy petition against the popular lift-ticket site. The filing occurred on June 2nd.
Our Take
Over the past 15 years, Liftopia has made a name for itself selling heavily discounted online lift tickets. For advanced-sale tickets to some independent mountains, the site is the only game in town.
The company is facing Chapter 11 restructuring (rather than Chapter 7 liquidation), meaning that it likely won’t cease operations. But it could mean considerable changes to the business in future seasons. We don’t know what this means at this point, but Liftopia has faced serious pressure from mega-passes such as Epic and Ikon in recent seasons, which offer similar or better value propositions for very frequent skiers.
A number of consumers rely on Liftopia for cheap day tickets, and many smaller resorts rely heavily on the site for ticket revenue. We hope this restructuring doesn’t substantially shift Liftopia’s business focus.
