John Cumming's Powdr is shedding ski ares
https://www.vaildaily.com/news/eldora-mountain-resort-listed-for-sale-as-utah-based-operator-powdr-sheds-ski-areas/
A bit more info about the major buyers in this article. They do not intend to get involved with operations. The entire leadership team working with Mike Solimano will stay on board.
What does independent ownership mean for Killington resort, community? - August 22, 2024
" . . .
“We’ve already raised the capital to close this transaction,” said Ferri. “But we believe now that the word is out, we’re going to get another few phone calls from other people interested.”
“All of the equity investors are Killington families,” Ferri added. “There is no private equity money in this. There’s no third party money. It’s all Killington-vested families, every single dollar. And that was our strategy to begin with. That was our goal… that gives us the ability to execute our vision of reinvesting just about every dollar we make into this mountain through the long term.”
Gross echoed the same plan. “We’re gonna just plow everything back into the mountain for the next decade or so and then see what we have,” Gross said. “I think we’ll have a really valuable asset. There will be a new village, a new Crystal Lodge, a new Bear Mountain Lodge, all the lifts will be upgraded … we’ll see what we have.”
“Phil and my job is to support Solimano and the management team, to provide any resources they may need. It’s really up to them. He [Solimano] knows where the needs are and where it makes sense to invest,” said Ferri.
. . ."
There are locals seriously considering the idea of buying Mt. Bachelor. Article is from an Oregon news outlet.
Local group explores buying Mt. Bachelor Ski Resort - August 28, 2024
Jason Blevins of the Colorado Sun is following what's happening for Eldora now that Powdr is looking for a buyer.
Eldora Mountain Resort listed for sale as Utah-based operator Powdr sheds ski areas - August 22, 2024
