Word: aspenization
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When the ski boom hit in the late 1960s, Aspen quickly emerged as its glamorous headquarters. Tourists flocked to the old Colorado silver-mining town turned winter resort, lured by the 11,300-ft. Aspen Mountain, the classy lodges and chic crowds. Its glittery, fast-lane image later included pricy real estate and such open cocaine use that it acquired the nickname "Toot City." Artists, ski bums and a coterie of rich and famous, including Actor Jack Nicholson and Troubadour John Denver, settled in what Denver dubbed "the sweet Rocky Mountain paradise." Now, as the ski craze cools and recession...
There are no longer snaking lines at the lifts feeding Ruthie's Run, Aspen's best-known trail. In the past year the landmark Red Onion saloon has closed, along with several other restaurants. Five lodges, including the 170-unit Continental Inn, are in the midst of foreclosure. Retail sales growth has slumped from the peak years of the 1970s, when profits grew at an annual rate of more than 15%. Owners of chic boutiques and eateries gripe that business is significantly down from last season. The "Silver Queen," as residents fondly refer to their town, even looks...
...surprisingly, the business community and some townsfolk, who think Aspen (pop. 7,620) has been too complacent in the face of growing competition, want to spruce it up and launch a promotional campaign. Says Author Leon Uris, a 20-year resident: "We've been ho-humming it for years. We have to get competitive." But other residents, who want to preserve Aspen's small-town charm, are disturbed by calls for mass marketing. "We're a mature resort with a solid product," says Lodge Owner Allan Blomquist. "We don't need flamboyant hype...
...Aspen faces a showdown next week in the debate over its future, when residents will vote in a special election on whether to impose a local business tax. The revenues, which could generate up o $1.5 million a year, would go into a fund to set up services to attract tourists. Examples: a computerized central reservation system for the area's lodges and an association to woo ski clubs and conventions. Even if the new tax is approved, Aspen faces an uphill battle. For one thing, the baby boomers who led the rush to the slopes are older...
...this, Aspen needs to convince itself that its old ways will no longer work. "Greed dominates the town. There was an arrogance toward tourists that used to prevail," said Thomas Richardson, the former president of the Aspen Skiing Corp. "People put their heads in the sand and said, 'We're the best.' Suddenly, we're not No. 1 any more. Now Aspen has a reputation as a rip-off community." The town's troubles are not likely to lead to a bust similar to the one Aspen experienced after Congress repealed the Sherman Silver-Purchase...