Powdr Sells Killington and Pico to Local Investors, Plans Sale of Multiple Other Ski Resorts

Vermont's Killington ski resort, pictured from the summit, and Pico ski area, visible in the distance at the far left, have returned to independent ownership for the first time since the 20th century.

UPDATE 9/2/2024: Updated to reflect the correct location of Killington’s future base village.

Vermont’s Killington and Pico ski resorts are set to return to independent ownership for the first time in decades. As reported by the Storm Skiing Journal, Powdr Corporation has sold the two Vermont mountains to a group of local investors for an undisclosed asking price. For the 2024-25 season, both resorts will remain on the Ikon Pass under the same structure as in previous seasons. The new owners intend to retain all current Killington and Pico staff.

Powdr, which owned and operated ten North American ski resorts this past season, plans to reduce its ski resort ownership down to five. The company also plans to sell Oregon’s Mount Bachelor, British Columbia’s Silver Star, and Colorado’s Eldora, putting all of them up for sale before the upcoming ski season starts. Following the sell-off, Powdr will retain Utah’s Snowbird, Colorado’s Copper, California’s Boreal and Soda Springs, and Utah’s Woodward Park City.

The United States resorts owned by Powdr Corporation prior to the Killington/Pico sale. Come the end of 2024, Powdr aims to sell off Mount Bachelor and Eldora as well. The company also plans to offload Canada's Silver Star, which is not depicted in the above graphic.

Our Take

Killington has long held the title of the largest ski resort on the East Coast, and its size, resiliency measures, and competitive infrastructure have helped make it our top-ranked ski resort in the region. While Pico may be too small to rank among the top East Coast resorts, it's a great option for avoiding crowds on busy days.

Although we don’t know exactly what this sale means for the overall experiences at Killington and Pico over the coming years, it’s almost refreshing to see a major ski resort like Killington return to independent ownership after so many have been bought up by conglomerates over the last couple of years.

One notable positive about this announcement is that the new owners plan to make some significant capital investments over the next decade. According to these owners, the investments will include “everything that needs to be upgraded or replaced”, along with a base village that’s currently in the planning stages between the Snowshed and Ramshead base areas. Several key lifts, including both gondolas and the Snowshed, Ramshead, and Superstar Express quads, are now close to or over three decades old and could use significant upgrades. Perhaps we’ll see some or all of those replaced with more modern lifts in the coming years.

Lifts such as Killington’s Skyeship Gondola, pictured above, could potentially use upgrades due to their age.

However, Powdr’s relinquishment of Killington and Pico could bring a few downsides. Most notably, Powdr will retain the Woodward terrain park brand, and it’s unclear if Killington’s world class freestyle setup, which has made the resort’s terrain parks into what we believe are the best—if not close to the best—in the east, will continue under the new ownership.

Another big question is whether Killington and Pico will remain Ikon Pass partners in the medium and long term. The resorts have committed to staying on Ikon for the 2024–25 season (they probably wouldn’t have had an option of leaving this winter anyway given the contract terms), but past then, the new owners may have the freedom to restructure access. Given that these investors are new to operating ski resorts, they may not yet know which direction they want to take in this regard.

On that note—since this is the first time that these new owners have ever managed a ski resort, it remains to be seen if they are able to practically operate Killington and Pico. The information in today’s announcement about the new owners and their plans does seem quite promising; however, there’s always the chance that the new owners decide it’s too hard and put it up for sale again, potentially leading to another purchase by a major corporation.

At this point, it is unclear whether Mount Bachelor (pictured), Silver Star, and Eldora will be sold to locals or larger ski resort mega corporations.

Finally, we’re also keeping a close eye on what Powdr does with Mount Bachelor, Silver Star, and Eldora. It remains to be seen whether these resorts get sold to private investors as well—or whether they will even be sold at all this year. There’s also the possibility that mega-corporations like Vail and Alterra could bid on one or more of these mountains. Acquiring Mount Bachelor or Silver Star could offer strategic geographic advantages that would address geographical deficiencies in their existing portfolios.

We’re excited to see how this development shapes the future of Killington and Pico, as well as the broader Northeast ski industry. We’ll be keeping a hawkish eye on how things go at the two resorts over the next few years to see what it’s like to operate as an independent ski resort in today’s increasingly corporate winter sports world.

Considering a trip to Vermont next season? Check out our comprehensive Killington and Pico mountain reviews. Additionally, check out our full Vermont and East Coast rankings, as well as our Vermont rankings in video form below.