Killllington 🎿🏂🏂🎿🎿🏂🏂🎿😀

[Internet Ski Pro]

Or a source for said article.

Probably a "long time season passholder". They are always in the know.

i dont think anybody is buying into it until some press release with a little bit of credit.

 

[urungus]

Killington President Mike has officially confirmed the press release is a hoax … however he also is not denying that a sale has been made

 

[Zand]

"WHEN" there is news you will be interested in...

Sounds like there is indeed news coming.

 

[jimmywilson69]

Yeah he sure didn't say that Killington HASN'T sold or ISN'T for sale.

Interesting to say the least.

All I hope is that is someone who realizes what that place is and will fund some infrastructure to make it great again!

MKGA!

I mean Killington is still great, but it could use some upgrades

 

[drjeff]

Guess it's REAL now. If Stuart Winchester from the Storm Skiing Podcast publishes it, with input from the Powdr folks and buyers named, then I give it some validity

POWDR to Sell Killington, Pico to Group of Locals; Seeks Sale of Bachelor, Eldora, Silver Star

POWDR to retain Snowbird, Copper, Woodward brand; Killington to return to independence after 40 years of conglomerate ownership; will remain on Ikon Pass

www.stormskiing.com

 

[thetrailboss]

Guess it's REAL now. If Stuart Winchester from the Storm Skiing Podcast publishes it, with input from the Powdr folks and buyers named, then I give it some validity

POWDR to Sell Killington, Pico to Group of Locals; Seeks Sale of Bachelor, Eldora, Silver Star

POWDR to retain Snowbird, Copper, Woodward brand; Killington to return to independence after 40 years of conglomerate ownership; will remain on Ikon Pass

www.stormskiing.com

Well……

I guess the talk about POWDR selling multiple resorts was true. The last couple of years industry insiders had been saying that POWDR was a target for acquisition. And as I expected (and feared) John is downsizing to keep Snowbird.

This deal reminds me of ASC’s sale of Sugarbush to Win and crew in 2001.

 

[Zand]

Killington Insider Blog - Stay Current On News, Events & Community

The Killington Insider Blog provides information, news, and updates on everything about Killington Ski Resort. Read more here!

www.killington.com

 

[machski]

Well, I'll be. I like how the new ownership group has said they are going to let Mike S. run free with K and do everything he wants to upgrade the place. New lifts, snowmaking infrastructure all coming soon as is the village. Sounds great, looking forward to Beast Unleashed!

 

[thetrailboss]

Killington Insider Blog - Stay Current On News, Events & Community

The Killington Insider Blog provides information, news, and updates on everything about Killington Ski Resort. Read more here!

www.killington.com

They’re keeping Fast Tracks!

 

[jimmywilson69]

Well to be fair the infrastructure is already there... It must make some money but I've never seen anyone use it. That being said, since its been installed I've only skied there in December and during the week in season

 

[joshua segal]

Anyone with news on what the selling price is/was?

 

[thetrailboss]

And in 2014, Colorado-based Vail Resorts orchestrated what amounted to a hostile takeover of Park City Mountain Resort, which POWDR had operated for 20 years (a POWDR representative told The Storm that “there is no lasting animosity” between the two companies, and that Vail Resorts was welcome to bid on the available ski areas).

"THAT'S RIGHT BITCH! WHO'S YOUR DADDY? And I look forward to more hostile takeovers of your remaining resorts!"

 

[thetrailboss]

And in 2014, Colorado-based Vail Resorts orchestrated what amounted to a hostile takeover of Park City Mountain Resort, which POWDR had operated for 20 years (a POWDR representative told The Storm that “there is no lasting animosity” between the two companies, and that Vail Resorts was welcome to bid on the available ski areas).

In all seriousness, John's Park City failure was (and is) a huge embarrassment to he and his Dad. The latter had to "step in" and negotiate the deal. Simultaneously, Dad bought controlling interest in Snowbird himself personally and without John or POWDR. When Dad was alive, every single press release and statement by Snowbird was explicitly clear that POWDR was not involved. In hindsight, these years were really good times at Snowbird. The only reason why John/POWDR got involved with Snowbird was when John inherited it from Ian on Ian's death. Kudos to Stuart for accurately reporting that John inherited it and that the Bass family still has a minority interest in Snowbird. Most folks don't see that subtle distinction.

That Park Record article is very interesting. I had to laugh at the photo juxtaposition between Katz and Cumming. And Katz (the real one and the meme character) would be flattered by the article's praise for his ability to make the deal happen.

And anyone looking at this should see that this is a clear sign that POWDR is struggling. One does not dump their biggest assets unless one is close to retiring or is not doing well. Bragging about getting a concession license for two National Parks, which no doubt was highly political (Cumming hosted Biden last year at his Park City home for a campaign fundraiser), is a far cry from owning the Beast of the East and a couple other bigger resorts that they are now selling. All I can say is he better not forget to renew those concession agreements when they are up for renewal......

 

[letitsnow1]

I think it great they killington will be independently owned by two locals

 

[cdskier]

Yes, I like them becoming independent. The only question is how deep are their pockets for capital improvements?

 

[jimmywilson69]

Powder will still be a minority owner. As was pointed out on Kzone, that could mean as much as 49% or much less.

I 100% agree that Killington staying "independent" is a good thing! Sure they are "Ikon Affiliated" but they aren't corporately owned and that is saying something in the current ski owner/operator landscape. Even Powder wasn't exactly a large corporation.

 

[machski]

Yes, I like them becoming independent. The only question is how deep are their pockets for capital improvements?

A close friend knows one of the new principals, says his pockets are indeed very deep.

It should be noted, Powdr retains a very slight minority stake in K and will have a seat on its new board. I would also expect the Woodward Parks brand to remain in place at K as well.

 

[urungus]

A close friend knows one of the new principals, says his pockets are indeed very deep.

as per the storm skiing journal:

The new owners include longtime Killington homeowners and passholders Phill Gross and Michael Ferri. Gross learned to ski at Killington and has owned a home in the town since 1986. He is managing director of Adage Capital Management, a money-management firm that he co-founded in 2001. He has served as a board member of the U.S. Ski and Snowboard Association and the World Cup Dreams Foundation, and is a founder of both Share Winter and the Killington World Cup Foundation. Ferri, a partner and owner of East Coast Valvoline Instant Oil Change franchises, has served as a Killington Mountain School trustee since 2008. His family has owned a home in Killington since the 1970s.

 

[BodeMiller1]

So, do I own part of Killington / Pico or did you guys leave me hanging.

So, you're telling me there's a chance.

Please let me know what part mine is so I can start my ski offs in the area.

 

[BodeMiller1]

Anyone with news on what the selling price is/was?

It looks like a private sale. Good chance the world will never know. Someone knows. My best guess XXXXXXXXXXXXXX and Bart.