Vail Daily letter: No savior
August 23, 2010
Angry Cordillera residents? Yes.
Yes, Cordillera residents are angry (Aug. 19 editorial). The Club at Cordillera and its financial problems are tarnishing the reputation of a lovely mountain community.
In June 2009, the David Wilhelm family abruptly undermined the members’ efforts to purchase the Club at Cordillera. Contrary to some reported facts, the Wilhelms did not save the Club at Cordillera from bankruptcy. The Wilhelms did promise to be involved for the long haul and now, a year later, want out.
The Wilhelms have been passionately focused on making the Club at Cordillera “more exclusive.” Many club members and long-term residents of this community have not shared that view. The Wilhelms have busily organized reciprocity with other golf resorts, perks that are rarely used.
Profound financial repercussions can result from excluding others. The Timber Hearth, a fine restaurant that in previous years was open to non-members, no longer provides meals, weddings and catered events for “outsiders.” This makes no sense for a business that has financially struggled for years.
The economy has not yet rebounded, nor was it expected to. But suddenly, the Wilhelms realize that they are not making money. They apparently didn’t have a realistic business plan to begin with.
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Finally, in their impatience to generate wealth via exclusivity, the Wilhelm Family Trust publicly discloses their financial problems at the height of the real estate season!
This is a great way to recruit new members. Go figure.
Nancy Alexander and David Staat