Vail Buys Park City Mountain Resort - Hopes To Create Largest Ski Resort In US
Surprise, Park City Mountain Resort has been sold to Vail Resorts Inc, which also operates Utah's Canyons Resort. Park City and Canyons are adjacent and this marriage could result in a mega-result that might be the largest in the United States.
Media are all over this store. I recommend these reports:
Our video clip is from KSL.com. Below are excerpts from the reports.
In a surprise announcement, Vail Resorts Inc. of Colorado reported it has purchased Park City Mountain Resort, which was previously owned by Powdr Corp., for $182.5 million in cash.
The new owners said they eventually hope to combine Park City Mountain Resort with the adjacent Canyons Resort to create the largest ski resort in the country, creating a worldwide draw to skiing meccas in both Utah and Colorado.
The upcoming ski season will go forward as planned, and the agreement stipulates that Vail must retain all Park City Mountain Resort employees in their current roles.
Last year, Vail signed a 350-year lease with Talisker to operate Canyons Resort adjacent to Park City Mountain Resort. Katz said Vail hopes to combine the two resorts and operate them as a single unit.
"If we did that, we would actually create a ski resort with 7,000 skiable acres, making it the largest ski resort in the United States," Katz said.
For the 2014-15 season, Park City Mountain Resort will operate independently from Canyons Resort. However, both resorts will be covered under Vail's Epic Pass and Epic Local Pass, which gives skiers access to multiple resorts throughout Utah and Colorado.