That is not an easy one to answer. Not right now anyway.
The old adage ‘a week is a long time in politics’ has never been so true. Since 23rd June politics in the UK have been at warp speed. Days and even hours have been jam-packed with changes and events that normally would have evolved over a period of weeks. Resignations, leadership battles, legal challenges, a new PM……….Who would have predicted a month ago that Boris Johnson would have become our Foreign Secretary?
For skiers, any travellers in fact, all of this does affect us; it’s all about the value of the pound. Perhaps we snow-lovers notice it more as we have lift passes to buy and possibly skis and boots to hire. We have meals on the mountain to account for too. And the occasional Kir or Gluhwein. More occasional for some of us than others.
The sky is blue. Trees are green. Markets don’t like uncertainty.
And the value of the pound has dropped perhaps because of all this uncertainty and fears of a recession. The optimists amongst us say it will rally. The pessimists don’t think it will rise to the heady heights we enjoyed pre-Brexit when that warming Gluhwein or cheeky red at lunch looked particularly good value.
What we do know is that we are moving in uncertain waters here. We are off piste without a guide. Unknown terrain. That may not be a bad thing. It’s just where we are now is on choppy waters. Rough snow. Crud even.
So to buy or not to buy? Hamlet may not have had lift passes or ski holidays on his mind when he asked that(ish) question, but we do. We have as you can imagine, been asked that question quite a few times this last month.
Most ski companies, whilst they contract accommodation over 12 months before the season starts, don’t pay for it then and there. That would be a mighty demand on cash flow. So sooner or later prices are going to have to rise to account for the weakening in the value of the pound. So it might be a reasonable course of action to buy now and at least avoid the uncertainty. Lock-in and look forward to a chilled Apremont or Weissbier on a terrace with a wonderful view.
And lift passes and ski hire? Same applies. Our advice would be to buy when companies are holding the value of their offerings (for Skiworld that is until 21st July) and then you can just stop worrying about it. Move off that difficult uncertain terrain and glide down a groomer or into the powder. Alternatively, let the operator take the risk with an all inclusive ski holiday… something which incorporates ski and boot hire as well as lift passes.
So, will we see you on the slopes? I’m sure we will.