In a recent announcement, POWDR, the owner of 10 ski areas in the United States and Canada, revealed its decision to sell its Killington and Pico ski areas in Vermont to a group of local investors. However, both ski areas will remain on the popular Ikon Pass, ensuring continued accessibility for skiing enthusiasts. The sale price has not been disclosed to the public.

This move marks the beginning of what appears to be a significant sell-off of resorts by POWDR. The company confirmed to The Storm Skiing Journal and Podcast that it plans to sell Mt. Bachelor in Oregon, Eldora in Colorado, and Silver Star in British Columbia in the upcoming weeks. The sale of Mt. Bachelor will also include the Sun Country Tours rafting outfit.

Stacey Hutchinson, POWDR's Vice President of Communications and Government Affairs, expressed the company's intention to find the most suitable owners for these mountains. She stated that other multi-mountain ski companies are welcome to bid on the resorts. JP Morgan Chase has been appointed to manage the sales process.

While POWDR will retain a minority ownership stake in Killington and Pico and hold a board seat, it will no longer operate the resorts. The company aims to focus and diversify its business, expanding its national parks concessions division launched earlier this year at Death Valley. Additionally, POWDR plans to enhance its Woodward brand, which encompasses various ski areas and non-ski facilities across the United States.

The sale of Killington and Pico ski areas has attracted the attention of local investors, including Phill Gross and Michael Ferri, who are longtime homeowners and passholders of Killington. Gross, the managing director of Adage Capital Management, and Ferri, a partner and owner of East Coast Valvoline Instant Oil Change franchises, have committed to retaining all staff, including the current President and General Manager, Mike Solimano.

Gross emphasized that the new owners have no intention of interfering with the operational decisions of the ski areas. Their primary focus will be to provide necessary resources while empowering the existing team to continue running the resort to the best of their abilities.

The sale of Killington and Pico represents a shift towards local ownership, bringing the resorts back to their roots after four decades as part of multi-mountain resort companies. This change could potentially infuse the resorts with a distinctive identity, asserting their independence within New England's ski industry.

As five of POWDR's ten mountains are currently part of Alterra's Ikon Pass, passholders may wonder about the future status of Killington, Pico, Mt. Bachelor, and Eldora beyond their existing contracts. These resorts could potentially decide to join a different pass or operate independently.

The sale of Killington and Pico ski areas signals a seismic shift in the consolidation trend within North America's ski industry. It raises questions about the long-term viability of the multi-mountain business model and highlights the potential impacts of POWDR's decision on the wider skiing community.

With the announcement of this sell-off, industry professionals and skiing enthusiasts eagerly await further updates regarding the future of POWDR's remaining resorts and the potential ripple effects across New England and North American skiing.