Updated at 11:15 a.m. on Aug. 22, 2024.

SAM Magazine—Killington, Vt, Aug. 22, 2024—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.

"To strategically manage POWDR’s portfolio in alignment with our founder’s and stakeholders’ goals, we aim to balance our ski business with new ventures in the National Parks sector and Woodward," said POWDR VP of communications Stacey Hutchinson. "Over the coming weeks, we will list three of our ski resorts—Eldora, Mt. Bachelor, and SilverStar—for sale, with JP Morgan Chase managing the process. Until the sales of these four resorts (including Killington) are finalized, we will remain dedicated to our current operations at those ski resorts, plus Copper and Snowbird, which we are retaining, Woodward camps and mountain centers, and our two National Park concessions contracts. In addition, we are dedicated to a seamless transition at all four resorts."

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.