Killington Parent Company Sells Park City Mountain Resort
After a long legal battle, Killington's operating company Powdr has sold Park City Mountain Resort to Vail Resorts.
Thursday, September 11, 2014, NewEnglandSkiIndustry.com
After a long legal battle, Killington's operating company Powdr has sold Park City Mountain Resort to Vail Resorts for $182.5 million. As a result, Vail will operate Park City Mountain Resort starting this season with future plans to connect it to the Canyons.
The legal battle dates back to 2011, when Powdr failed to renew its lease with land company Talisker. While Powdr owned base facilities and land at Park City Mountain Resort, much of the skiable terrain was leased from Talisker. In 2013, Vail Resorts entered into a long term lease on nearby Canyons with Talisker with plans to connect the two ski areas.
Under threats of eviction, Powdr claimed it would remove all lifts on leased land at Park City and potentially relocate them to other Powdr ski areas, such as Killington. As a condition of the $182.5 million sale, the Park City lifts will remain in place.
Though no plans have been released, it is possible that Killington could see future capital investments as a result of the cash sale.
