In a surprising move within the ski industry, Killington Ski Resort will soon be transitioning from its current owner, POWDR, to a consortium of local pass holders. Announced on August 22, 2024, this shift also includes the sale of Pico Mountain. POWDR will retain a minority stake and maintain a seat on the board of directors.
The new ownership group, led by long-standing Killington community members Phill Gross and Michael Ferri, has committed to preserving the current operational structure. Season pass programs will continue unchanged, and Ikon Pass holders will still have access to Killington during the upcoming winter season.
Key events, such as the Stifel Killington Cup scheduled for November 30 to December 1, will proceed as planned. Additionally, the development of a new village partnership involving Killington Resort, the Town of Killington, and Great Gulf will continue unabated.
According to a statement on Killington’s website, the leadership and management teams will remain intact to ensure operational continuity. Micheal Solimano, the current President and General Manager of Killington and Pico, will continue in his role.
Phill Gross, a co-founder of Adage Capital Management, L.P., has been involved with Killington since 1986 and serves on the boards of several winter sports charities. Michael Ferri, who has deep roots in the community and operates multiple Valvoline Instant Oil Change® franchises and Mr. Sparkle Car Wash® locations, has been an integral part of the Killington area since 1970.
Despite their extensive involvement in the community, Gross and Ferri do not have direct experience in ski resort management. They plan to allow the existing Killington staff to handle day-to-day operations. Gross emphasized to The Storm Skiing Journal and Podcast that none of the new owners will interfere with operational decisions.
The Storm also reported that POWDR is preparing to sell off additional properties, including Mt. Bachelor in Oregon, Eldora in Colorado, and Silver Star in British Columbia, within the coming weeks.
The sale of Killington is expected to be completed this fall, with further details on future investments to be disclosed thereafter. POWDR, which acquired Killington in 2007, is making significant changes to its portfolio.
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