This is a business that will gradually but surely grind to a halt in terms of profitability. When people realize they don't have the ability to piss away X thousand for a weekend running down a hill, they will pull the plug. No more $400 hotel rooms! Good luck on the condos--will the Ritzy Carlton ever happen? Can't make money on it.
You can still be early in shorting this. I think it tests $10.
Your doom and gloom is funny. Vails resorts are first class. You have amazing skiing, great service, and people will come. The prices are to high, but it is a supply and demand market. If people are willing to pay the price, than so be it.
By the way, if this stock goes back below 20, I will be buying a lot.