PCMR, Talisker Far Apart on Lease Value

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PCMR, Talisker Far Apart on Lease Value

SAM Magazine—Park City, Utah, Aug. 17, 2014—Park City Mountain Resort and Talisker/Vail Resorts appear to be far apart on the value of the mountain underlying much of PCMR’s terrain. PCMR said that the appropriate rent for the 3,000 acre should be between $226,000 and $1 million a year, according to a report at Forbes.com. PCMR also said that Talisker, before it turned the lease administration over to VR, was seeking $7.7 million per year, according to Forbes.com. It is not known what rent VR, which has assumed responsibility for managing the leased land, is asking.

Push to The Latest: No

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The latest information emerged after both sides were required to submit their rent proposals to the Utah court handling the litigation, and PCMR made its proposal public.

The rent amount is critical because it will determine the value of a bond PCMR must post if it wishes to access the disputed terrain this winter as it appeals the court's decision that its lease expired in 2011.

Despite the gulf between the two sides, they have told the court that they wish to continue their mediation efforts through Aug. 24 in an attempt to resolve the dispute. A critical hearing in the case is set for Aug. 27.