Wintergreen Struggling, Mild Weather Hurts Revenue

Wintergreen Resort is asking its members for help in dealing with financial problems.

Wintergreen board of directors chairman L. Allen Bennett says in a Jan. 30 letter to the resort's 1,800 members that mild weather has hurt revenues. As a result, the resort defaulted on its line of credit with Bank of America.

The Nelson County Times (http://bit.ly/yrRPh4 ) obtained a copy of the letter.

According to the newspaper, Bennett wrote that Wintergreen Partners missed its December revenue target by $2 million. January revenue is expected to be $1.5 million below budget.

The letter asks the resort's members for support in raising $6 million. The money would be used to self-finance Wintergreen's working capital needs and underwrite operating losses resulting from the mild winter.


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