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Killington to Replace Superstar Express and Upgrade Skyeship Gondola

The sale of Killington and Pico to local investors has closed and today the group announced their initial tranche of capital investments. Over the next 12 to 16 months, Killington plans to spend roughly $30 million to build a Superstar Express six pack, add 1,000 HKD low energy new snow guns and replace all 116 Skyeship Gondola cabins. Skyeship’s cabin storage facility will also be replaced in the near future. The current Superstar lift is the oldest detachable chairlift in New England, dating back to 1987 (tied with two other lifts at Killington/Pico and the Grand Summit Express at Mount Snow.)

The news comes just over a month since Powdr announced the sale of Killington and listing of three other resorts. “Over the next 10 years, our goal is to reinvest all the profits the mountain creates,” said Michael Ferri, one of two lead investors in Killington Independence Group, LLC, comprised of 16 total investors. “[Profits] will stay here in Vermont, they will stay here at Pico and they will stay here at Killington,” said Ferri.

A new Sigma Diamond cabin installed on the K-1 gondola, the same model Skyeship will receive.

Surprisingly after 37 straight lifts from other manufacturers, Killington selected Doppelmayr to construct the new Superstar Six. Unlike Killington’s Snowdon Six, the new lift will not feature bubbles. “There are a number of factors, but this lift is a relatively short ride which makes having bubbles on the lift less impactful, especially considering the added complexity of needing a storage barn for overnight storage of bubble chairs,” said Killington. Superstar has one of the longest winter operating schedules in the country, spinning for World Cup ski racing in November all the way until the end of the season in May or June. “The Superstar lift replacement will affect spring skiing this season and potentially the 2025 Stifel Killington Cup, noted Killington President and CEO Mike Solimano. “We do plan to make more snow in North Ridge to extend the season in the Canyon this year and are working with the lift manufacturer to finalize the construction plan for the lift before making the call on the Killington Cup,” he continued.

Skyeship Gondola, set to receive new cabins and a new maintenance facility.

Leitner-Poma will supply new cabins for Skyeship, the same Diamond model the K-1 Gondola received in 2018. “Many of our current operational challenges with [Skyeship] can be attributed to the older cabins,” noted Killington. “The challenges are exasperated by not being able to store the cabins in a heated building causing door opening and closing mechanisms to become frozen overnight.” All of these improvements are slated for the next two years with more expected to follow over the next decade.

News Roundup: Ikon Addition

Local Investors Purchase Killington and Pico from Powdr

New England’s largest ski resort has been sold to a local group of investors for an undisclosed price. The sale, which had been rumored for weeks, is the second recent disposition by Powdr following the sale of Lee Canyon, Nevada to Mountain Capital Partners in 2023. Lead investors in the new ownership group, Phill Gross and Michael Ferri, both have long term ties to the Killington area and ski racing. Gross is Managing Director of Boston-based Adage Capital Management and Ferri owns Valvoline Instant Oil Change franchises throughout the East Coast. Powdr will retain a minority stake and one seat on Killington/Pico’s board of directors. Current management will remain in place and the resorts will continue to participate in the Ikon Pass. “The Killington leadership team is excited about this opportunity to build on the strong foundation laid by Powdr,” said Mike Solimano, President and General Manager of Killington Resort. “We believe that local ownership will allow us to be even more responsive to the needs and desires of our community and guests.”

The sale is expected to close this fall. In an email to employees, Powdr said it also plans to list Eldora, Colorado; Mt. Bachelor, Oregon and SilverStar, British Columbia for sale in the coming weeks. The Park City-based company expects to retain Boreal, California; Copper Mountain, Colorado; Snowbird, Utah; Soda Springs, California and Woodward Park City, Utah as its only five alpine ski areas. The company has been expanding its portfolio of Woodward action sports parks of late and bidding on concession contracts with the National Park Service in order to diversify its portfolio.

During the Powdr era, Killington made significant upgrades to its infrastructure including a new K-1 lodge, Snowdon bubble six pack, North Ridge quad and new cabins on the K-1 gondola. The Beast faces significant ongoing capital needs, however, including a replacement for the Superstar Express and a higher capacity lift on Ramshead Mountain. “We are grateful to Powdr for their stewardship over the years, as Killington saw substantial improvements to infrastructure, snowmaking capabilities, and year-round growth,” said Gross and Ferri. “For our families, Killington is more than just a business or asset to own; it is our home. We are thrilled to guide the mountain into a substantial investment phase.  Mike and his leadership team have done a great job, and we look forward to giving them the resources to up our game and continue to evolve Killington as a leader among world-class resorts with strong local roots.”

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