PARK CITY, UTAH—Vail Resorts Inc., owner ofseveral ski destinations in Colorado, has acquired ParkCity Mountain Resort here for $182.5 million.
The acquisition from Powdr Corp., includes landapproved for about 687,000 square feet (63,800 square meters) ofresidential and commercial development, Broomfield, CO-based VailResorts said in a statement Thursday.
The cash purchase also ends a legal dispute between Vail Resortsand Powdr, allowing Park City to prepare for the coming ski season,Bloomberg noted. “This has been a difficult period foreveryone involved,” Vail Resorts chief executive officerRob Katz said in the statement. The resort “is oneof the most spectacular mountain resorts and iconic brands in theski industry and I am proud to have the resort become a part ofVail Resorts.” Vail Resorts will adding Park City to itsEpic Pass, a program that gives skiers unlimitedaccess to the company's resorts.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
