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.
posted by Utah Blog Admin @ 7:34 PM
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