Another Resort Goes Belly-Up

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I'm not really seeking out bad news, but I saw an Associated Press story about Idaho's Tamarack Resort shutting down Wednesday. The destination ski resort, once featured in Lodging Hospitality, debuted in 2004. Only 250 of a planned 2,100 chalets, condos and town homes are complete and 174 residences, and the mountain lodge, sit half done, according to the story.

The list of reasons for the sudden closure is lengthy, but the AP reported lender Credit Suisse Group is calling it quits after a $2.8 million operating loss in just over the last five months.

Tamarack's website goes straight to the point: "As of March 4, 2009, Tamarack Resort is no longer operating. We thank you sincerely for your business and support over the past years."

Owners of real estate there can apparently still get to their property, but it will be a long walk back up the hill if they choose to ski down the mountain.

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