In a strategic move to manage its portfolio and align with stakeholders' goals, Powdr, the owner of Eldora Mountain Resort, has revealed plans to sell several of its ski areas. Alongside Eldora, the company is listing the SilverStar Mountain Resort in British Columbia and Mt. Bachelor in Oregon for sale. A deal has already been inked to sell Vermont's Killington and Pico ski areas to local investors. Powdr has enlisted the services of financial firm JP Morgan to facilitate the potential sales, with more details expected to be disclosed during the process.

The announcement ensures that Powdr's current arrangement with Alterra Mountain Co., providing Ikon Pass access to Eldora, will remain unchanged for the upcoming 2024-25 ski season. Powdr, founded by entrepreneur John Cumming in 1994, initially acquired Alpine Meadows and Park City ski areas. Over the years, it expanded its reach, acquiring Copper Mountain ski area in 2009 and purchasing Eldora in 2016.

Powdr evolved into an adventure lifestyle company, selling Alpine Meadows in 2007, which is now part of Alterra Mountain Co.'s Palisades Tahoe ski area. However, in a significant turn of events, Vail Resorts, who owned the neighboring Canyons ski hill, took over Powdr's Park City Mountain Resort in 2014 after Powdr missed a deadline to renew its lease for critical private land. This move led to the creation of the largest ski area in the country.

Last year, Powdr sold Lee Canyon ski area in Nevada to Mountain Capital Partners. Stacey Hutchinson, Powdr's vice president of communications, stated that the decision to sell the ski areas is part of an effort to strategically manage the company's portfolio in accordance with founder's and stakeholders' goals. Hutchinson mentioned that Powdr aims to strike a balance by venturing into the national parks sector and expanding its Woodward Experiences, which offers year-round training facilities and programs.

Eldora Mountain Resort, spanning 680 acres, recently marked its 60th season of operation following a $10 million investment by Powdr. In October, the resort will debut its new Caribou Lodge, a 12,000-square-foot facility that will house the Ignite Adaptive Sports nonprofit and the resort's ski school.

In addition to Eldora, Copper Mountain, Snowbird, Woodward camps and mountain centers, and two National Park concessions contracts will continue under Powdr's management until the sales of the four resorts are finalized. The resorts operated by Alterra Mountain Co., Vail Resorts, Mountain Capital Partners, and Boyne Resorts have fueled intense consolidation within the U.S. ski industry, driven by the allure of multiresort season passes.

Alterra Mountain Co., which operates Winter Park and owns Steamboat ski area, recently announced plans to acquire its Ikon Pass partner, Arapahoe Basin. However, the U.S. Department of Justice has been examining the acquisition, requesting skier surveys and visitation statistics from Arapahoe Basin to investigate potential antitrust concerns stemming from Alterra's expansion in Colorado.

Powdr's decision to sell Eldora and other ski areas reflects an ever-changing landscape within the ski industry, with consolidation and strategic maneuvering becoming the norm. As Powdr's plans unfold and potential buyers emerge, the ski community waits to see how these sales will reshape the future of these renowned resorts.