POWDR sells Killington Resort to local passholders

POWDR has sold Killington, the east's largest ski area along with three other resorts. Photo: AP/Robert F. Bukaty

Park City-based POWDR also plans to sell Eldora, Mt. Bachelor and SilverStar as its business strategy evolves

PARK CITY, Utah – Park City-based POWDR Corp., the owner of multiple ski resorts across the U.S. and Canada, is selling Vermont’s Killington Resort and Pico Mountain, the largest mountain resort in New England, to a group of local passholders.

POWDR also plans to list three more resorts for sale in the coming weeks: Eldora in Colorado, Mt. Bachelor in Oregon, and SilverStar in British Columbia. The company will retain Copper Mountain in Colorado and Utah’s Snowbird as part of its strategy to balance its ski operations with recently announced concessions venture in Zion National Park along with its Woodward mountain centers and camps.

The details: Killington’s new local owners, Phill Gross and Michael Ferri, plan to focus on capital investment, community engagement, and sustainability. POWDR, which purchased Killington in 2007, will retain a minority ownership stake and a seat on the board of directors.

“We will miss the entire team there but cannot wait to see the amazing things that lie ahead,” said POWDR spokesperson Stacey Hutchinson. “The new owners, who are locals with a deep love for the mountain, share our commitment to the resort’s long-term success.”

What to watch: Killington and Pico will remain part of the popular Ikon ski pass, and there will be no changes to the leadership or management. Killington’s president, Mike Solimano, believes local ownership will allow the resort to be more responsive to community needs.

Flashback: POWDR previously owned Alpine Meadows (now Palisades Tahoe) in California, Lee Canyon in Las Vegas, and Park City Mountain in Utah, but has sold these assets over the years as part of its evolving business strategy.