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Powdr has agreed to sell Killington Resort and Pico Mountain to a group of local investors. The sale is expected to close this fall.
Following news of the sale, sources report that Powdr also plans to put several of its other ski resort properties—Eldora, Colo., Mt. Bachelor, Ore., and SilverStar, B.C.—out to bid.
Powdr, which has owned Killington / Pico for 17 years, will retain a minority stake in the operation’s new ownership entity and will have a seat on its board of directors.
The new ownership group, led by passholders Phill Gross and Michael Ferri, seeks to “increase capital investment while preserving the mountains’ unique character and community,” according to a press release from Killington / Pico.
“The Killington leadership team is excited about this opportunity to build on the strong foundation laid by Powdr,” said Mike Solimano, president and general manager of Killington Resort / Pico Mountain. “We believe that local ownership will allow us to be even more responsive to the needs and desires of our community and guests.”
With the 2024-25 ski season approaching, the resort reiterated that “daily operations will be business as usual,” including the Stifel Killington World Cup, slated for Nov. 30 and Dec. 1, 2024. Killington and Pico will remain on the Ikon Pass, and there are no reported changes to the leadership, management, or front-line teams. Work on the new Killington Resort village, in partnership with developer Great Gulf, will continue.
Source: SAM
