Ski-area operator Powdr will sell Vermont's Killington Resort and nearby Pico Mountain to a local investment group. Powdr will also put Oregon's Mt. Bachelor ski area, Eldora in Colorado and SilverStar in British Columbia up for sale.
"Until the sales of these four resorts (including Killington) are finalized, we will remain dedicated to our current operations at those ski resorts," Powdr said in a statement.
The company said it would retain its two other large ski areas, Copper Mountain in Colorado and Utah's Snowbird, and explained that it is moving to balance its portfolio of ski areas with its investments in national parks concessions and its Woodward active-sports brand.
Killington, which is the largest ski area in the eastern U.S. and is nicknamed "the Beast of the East," will remain on the Ikon Pass for the 2024-25 ski season, along with Pico, Powdr said. Closing is anticipated in the fall.
Other ski resorts that have changed hands recently: Major ski operator Alterra said earlier this year it would buy Colorado's Arapahoe Basin from Dream Unlimited Corp., and last year it purchased Idaho-based Schweitzer from MKM Trust. Vail Resorts reached an agreement to acquire a controlling interest in Crans-Montana Mountain in Switzerland.
Lead investors in Killington's new ownership group include Phil Gross, a board member of the U.S. Ski and Snowboard Association; and Michael Ferri, an owner of Valvoline Instant Oil Change franchises on the East Coast. Both are longtime Killington homeowners.
For our families, Killington is more than just a business or asset to own; it is our home," the duo said. "We are thrilled to guide the mountain into a substantial investment phase."
The new Killington ownership group plans to focus on capital investment, community engagement and sustainability.
Existing Killington management will remain in place as the mountain transition to the new ownership.