POWDR Corporation, the current owners of Mt. Bachelor and several other ski resorts across the country, announced its intent to sell four of its resorts in the coming weeks. The company signed an agreement to sell Killington Ski Resort in Vermont and announced its intent to sell additional ski areas including Mt. Bachelor, Eldora Mountain in Colorado and SilverStar Mountain Resort in British Columbia.
“We do not expect any changes to products, roles and operations at Mt. Bachelor for the 24/25 winter season, and we will continue to operate ‘business as usual’ as we work to open the resort for skiing and riding on Nov. 29, 2024,” said Lauren Burke, director of marketing and communications for Mt. Bachelor, in a press release.
POWDR originally purchased Mt. Bachelor ski area in 2001. The Utah-based company is selling these ski resorts as it looks ahead at new ventures.
“To strategically manage POWDR’s portfolio in alignment with our founder’s and stakeholders’ goals, we aim to balance our ski business with new ventures in the National Parks sector and Woodward,” said Stacey Hutchinson, the vice president of communications and government affairs for POWDR, in an email.
JP Morgan Chase will be leading the selling process, however POWDR does not have a buyer yet for Mt. Bachelor. The time it will take for the sale depends on how quickly POWDR finds the right buyer, and how long negotiations take, said Hutchinson. Mt. Bachelor’s agreement with Ikon, which offers a pass allowing access to various mountains in the world including Mt. Bachelor, will stay for at least the coming season.
According to an article from the Storm Skiing Journal and Podcast, published on Thursday morning, POWDR will sell its Killington and Pico ski areas in Vermont to a small group of local investors. POWDR will retain a minority ownership stake in the two mountains, the article stated.
The new owners, Phill Gross and Michael Ferri, are longtime Killington homeowners and pass holders. Gross is the managing director of a money-management firm and has served on the U.S. Ski and Snowboard Association board, the article stated. POWDR has owned the Vermont resorts since 2007.
“Until the sales of these four resorts (including Killington) are finalized, we will remain dedicated to our current operations at those ski resorts, plus Copper and Snowbird which we are retaining, Woodward camps and mountain centers, and our two National Park concessions contracts. In addition, we are dedicated to a seamless transition at all four resorts,” said Hutchinson.
“We do not expect any changes to products, roles and operations at Mt. Bachelor for the 24/25 winter season, and we will continue to operate ‘business as usual’ as we work to open the resort for skiing and riding on Nov. 29, 2024,” said Lauren Burke, director of marketing and communications for Mt. Bachelor, in a press release.
POWDR originally purchased Mt. Bachelor ski area in 2001. The Utah-based company is selling these ski resorts as it looks ahead at new ventures.
“To strategically manage POWDR’s portfolio in alignment with our founder’s and stakeholders’ goals, we aim to balance our ski business with new ventures in the National Parks sector and Woodward,” said Stacey Hutchinson, the vice president of communications and government affairs for POWDR, in an email.
JP Morgan Chase will be leading the selling process, however POWDR does not have a buyer yet for Mt. Bachelor. The time it will take for the sale depends on how quickly POWDR finds the right buyer, and how long negotiations take, said Hutchinson. Mt. Bachelor’s agreement with Ikon, which offers a pass allowing access to various mountains in the world including Mt. Bachelor, will stay for at least the coming season.
According to an article from the Storm Skiing Journal and Podcast, published on Thursday morning, POWDR will sell its Killington and Pico ski areas in Vermont to a small group of local investors. POWDR will retain a minority ownership stake in the two mountains, the article stated.
The new owners, Phill Gross and Michael Ferri, are longtime Killington homeowners and pass holders. Gross is the managing director of a money-management firm and has served on the U.S. Ski and Snowboard Association board, the article stated. POWDR has owned the Vermont resorts since 2007.
“Until the sales of these four resorts (including Killington) are finalized, we will remain dedicated to our current operations at those ski resorts, plus Copper and Snowbird which we are retaining, Woodward camps and mountain centers, and our two National Park concessions contracts. In addition, we are dedicated to a seamless transition at all four resorts,” said Hutchinson.
