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TELLURIDE, CO-Joe Morita, owner of the Telluride Ski & Golf Resort, signed a joint agreement with the Horning Family of Newport Beach, CA for the ski resort in southwest Colorado.

The deal is expected to close later this year.

“Joe Morita and his associated companies have chosen Chuck and Chad Horning, a father-son team, as his joint venture partners,” says Jim Wear, Morita’s attorney and Telski’s EVP. “This completes a six month search for the appropriate investment partner who respects Telluide’s unique character and nature as one of America’s premier ski and golf resorts,” adds Wear.

“We are excited to be in partnership with Joe Morita and the Telluride community,” says Chad Horning. “We appreciate the uniqueness and beauty of this area and are looking forward to becoming long term active members of this community.”

The Horning family is actively involved in conservation and land restoration, as well as various real estate investments primarily in California and Hawaii.

Morita and the Horning Group are negotiating with Chris Ryman, president of Booth Creek Ski Holdings, the current Telski management group, on their continued management involvement.

Morita has owned 100% of Telski since 2001 when he purchased the resort from limited partners including Ron and Joyce Allred and Jim Wells. Since that time, he completed the 733-acre Prospect Bowl expansion, which doubled the amount of lift served terrain available on the Telluride Mountain.

Telski opens for its 26th ski season Wednesday, November 26.

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