Business Sheet readers know all about the millionaire-only Yellowstone Club in Montana that’s in bankruptcy. But turns out that isn’t an isolated incident.
New York Times: Other corners of the resort-economy West are taking punches. The Tamarack Resort in Idaho, which opened in 2004 north of Boise, is operating in receivership after the owners defaulted on a $250 million loan. Home construction has halted but the ski area is scheduled to open on Dec. 12. In Utah, the Promontory Club, a 7,224-acre ski and golf development near Park City, declared bankruptcy in March when the company defaulted on a $275 million loan.
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