Category: wisp ski resort

Tourist destination near Deep Creek Lake has had financial difficulties in its real estate arm
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By Hanah Cho, The Baltimore Sun

6:51 p.m. EDT, October 17, 2011
The owners of a ski resort near Deep Creek Lake have filed for Chapter 11 bankruptcy-law protection while they try to resolve financial difficulties related to another business.

DC Development LLC, which owns Wisp Resort in Garrett County, announced the filing Sunday.

The company has been unable to renegotiate the repayment of a $28.5 million loan with BB&T Corp. The loan was tied to the construction of an 18-hole golf course and community called Lodestone Golf Club. The golf club property, which is near the ski resort, has experienced lackluster sales of home sites.

DC Development — which filed for bankruptcy-law protection on Saturday in U.S. Bankruptcy Court in Greenbelt — said Chapter 11 protection would allow it to work out its loan restructuring and provide “breathing room needed to continue to seek new investors for the companies.”

More here.

Buying or selling real estate in Garrett County or Deep Creek Lake, Maryland? Call Jay Ferguson of Railey Realty for all of your real estate needs! I take great pride in referrals, and I assure you, I will take great care of your friends, family & colleagues!

Western Maryland ski and golf resort files for Chapter 11

by Lindsey Robbins, Staff Writer

Maryland’s only ski resort has fallen victim to the collapse of the real estate market, as its owners filed for bankruptcy on Saturday after defaulting on a $23.5 million loan.

D.C. Development of McHenry, owner of Wisp Resort in Garrett County, and related companies filed the Chapter 11 petition in U.S. Bankruptcy Court in Greenbelt, citing $50 million to $100 million in assets and $10 million to $50 million in debts.

“Wisp Resort continues to perform exceptionally well and will continue to be the region’s premiere skiing resort,” Karen F. Myers, an executive with Wisp Resort Development, wrote in an affidavit with the filing. “However, as a result of the [Branch Banking & Trust] confessed judgment, the companies must restructure their debt and their relationship with BBT.”

Myers is a prominent businesswoman in the state; last year, the Maryland Chamber of Commerce inducted her into its Business Hall of Fame.

More here.

Buying or selling real estate in Garrett County or Deep Creek Lake, Maryland? Call Jay Ferguson of Railey Realty for all of your real estate needs! I take great pride in referrals, and I assure you, I will take great care of your friends, family & colleagues!

>TODAY (JUNE 30) IS THE LAST DAY TO SAVE 20% ON WISP SEASON PASSES*
Summer is here so save on Winter now!

Purchase your pass here!

*Excludes certain products.

Plus, Season Passes purchased by today will receive a Summer Savings Card loaded with discounts on many of Wisp’s summer offerings including:
Golf, Off-road Mountain Buggy Tours, the NEW Chipmunk Challenge Course,
Segway & Kayak Tours, DC’s Bar & Restaurant & More!

More details here.

If you or someone you know is considering buying or selling real estate in Garrett County or Deep Creek Lake, Maryland, call Jay Ferguson of Railey Realty for all of your real estate needs! I take great pride in referrals, and I assure you, I will take great care of your friends, family & colleagues! As member of the Garrett County Board of Realtors, I can assist you with ANY listed property, regardless of the listing broker.

>Thanks to Larry Smith of the Wisp Ski Patrol for reporting:

*The 2010 – 11 ski season will officially end at the end of the day on Sunday, March 27, 2011*. The Mountain Coaster, Flying Squirrel Canopy Tour, and Seqway Tours will be available beginning the weekend of April 2nd and 3rd and on a weekend basis until our regular operating schedule closer to Memorial Day.

If you or someone you know is considering buying or selling real estate in Garrett County or Deep Creek Lake, Maryland, call Jay Ferguson of Railey Realty for all of your real estate needs! I take great pride in referrals, and I assure you, I will take great care of your friends, family & colleagues! As member of the Garrett County Board of Realtors, I can assist you with ANY listed property, regardless of the listing broker.

By this date last year, BWI-Marshall Airport had already recorded 21.9 inches of snow, beating the annual average for Baltimore. This year we’ve seen just 3.5 inches. What a difference a year, and maybe a La Nina can make.

If that’s a disappointment to you, you can fix things simply by hopping in your car and driving out to Garrett County. After 10 or 12 feet of snow last winter, those hardy folks are looking at an unbroken line of snowflake icons on their 7-day forecast. Moisture off Lakes Michigan and Erie, coupled with persistent winds from the northwest, are producing a more or less steady fall of snow this week.

The WISP Resort in McHenry has measured 102 inches of snow so far this season, including the 30 inches they’ve received this week. All the trails are open and there’s plenty of winter to go around out there. Garrett County was under a Winter Storm Warning until 11 a.m. today, with another 1 to 3 inches of snow due, and sub-zero wind chills. Snow showers and flurries are likely to continue.

Pretty much the same forecast – snow chances and sub-freezing cold – will hold for Pittsburgh, too, as the Ravens head out there Saturday for the divisional playoff game.

Read the full article here.

If you are thinking of buying or selling real estate in Garrett County or Deep Creek Lake, Maryland, call Jay Ferguson of Railey Realty for all of your real estate needs! 877-563-5350

Deep Creek Do It All specializes in cleaning services in Garrett County & @ Deep Creek Lake. Give them a call (301-501-0217) or visit the website – competitive rates and quality results from a locally owned & operated company!

Journal photo by Chris Jackson

Three area ski resorts just a short drive away
December 27, 2010 – By Edward Marshall, Journal Staff Writer

MARTINSBURG – With schools closed and students home for holiday break, families may be getting a little cabin fever now that the Christmas holiday is officially over….

…Those up for a slightly longer drive also can hit the slopes at the Wisp Resort, tucked away in the mountains of Western Maryland near Deep Creek Lake in Garrett County.

Located at 296 Marsh Hill Road in McHenry, Md., Wisp Resort is about a two-hour drive from Martinsburg.

With more than 100 inches of annual snowfall in Garrett County, Wisp’s 132 acres of ski terrain provide snowsport enthusiasts the perfect winter playground. The resort’s trail system features 32 slopes and trails totaling 10.5 miles on 132 acres of skiable terrain. The resort also features Bear Claw Adventure Park, which includes snowtubing lanes, a mountain coaster and an ice skating rink.

Through Jan. 2, the resort will be operating under peak holiday hours from 9 a.m. to 9 p.m. Daily rates for skiing and boarding range from $36 to $65 depending on age and the amount of time you want to spend on the slopes. Snow tubing rates for holidays are $25 per person for two-hour sessions. When traveling from Martinsburg, take I-81 North toward Hagerstown, crossing into Maryland. From I-81 North, take I-70 West’s Exit 4 toward Hancock. Once in Hancock, merge onto I-68 West via Exit 1A on the left toward Cumberland. From I-68 West, merge onto U.S. 219 South via Exit 14A toward Oakland. Turn right onto Sang Run Road. Take the third left onto Marsh Hill Road. The resort will be on your right.

For more detailed information about Wisp Resort, visit www.wispresort.com

Read the full article here.

If you are thinking of buying or selling real estate in Garrett County or Deep Creek Lake, Maryland, call Jay Ferguson of Railey Realty for all of your real estate needs! 877-563-5350

Deep Creek Do It All specializes in cleaning services in Garrett County & @ Deep Creek Lake. Give them a call (301-501-0217) or visit the website – competitive rates and quality results from a locally owned & operated company!