Powdr Corp. announced the sale of Vermont's Killington Resort and Pico Mountain to a group of local passholders. The company's strategic shift will also see three other resorts, Eldora in Colorado, Mt. Bachelor in Oregon, and SilverStar in British Columbia, listed for sale soon. Powdr will retain ownership of Copper Mountain in Colorado and Snowbird in Utah as it aims to balance its ski businesses with concession contracts in national parks and operations of Woodward camps and centers, spokesperson Stacey Hutchinson said Thursday.
Killington's new local investors aim to prioritize capital investment, community engagement, and sustainability. They expressed a commitment to "keeping Killington and Pico in the hands of those who know and love it." Powdr, which acquired Killington in 2007, will maintain a minority stake and board representation. Reflecting on the sale, Hutchinson remarked, "We will miss the entire team there but cannot wait to see the amazing things that lie ahead."
The transaction has been welcomed by Killington's leadership, with President Mike Solimano emphasizing the benefits of local ownership, saying it "will allow us to be even more responsive to the needs and desires of our community and guests." He noted that Powdr had improved infrastructure and snowmaking abilities. Killington and Pico will stay on the Ikon ski pass, and its leadership or management will similarly be unchanged. (This story was generated by Newser's AI chatbot. Source: the AP)
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