Park City Mountain Resort (PCMR): Who Bought Park City Mountain Resort?
Park City Mountain Resort (PCMR), located in Park City, Utah, is one of the most iconic ski resorts in the United States. Since its opening in 1964, PCMR has been a favorite destination for skiers and snowboarders from all over the world. For decades, PCMR remained under family ownership until 2017 when the resort was sold to Vail Resorts.
The story of who bought Park City Mountain Resort started with a legal dispute between the resort’s long-time owners, Powdr Corporation and Talisker Corporation. In 2011, Powdr Corporation was informed that their lease on the land had expired and that Talisker Corporation now owned it.
This led to a legal battle between the two companies. In 2014, an agreement was reached and PCMR was able to remain open for skiing and snowboarding for the 2014-15 season.
However, the agreement wasn’t permanent and both sides began negotiations again in 2015 with a potential sale to Vail Resorts on the table. After months of speculation and negotiation, Vail Resorts announced that it had purchased PCMR for $182 million in September of 2017. The sale included all of PCMR’s operations and assets including three ski areas: Park City Mountain Resort, Canyons Village at Park City and The Colony at White Pine Canyon.
The acquisition of PCMR marks an important milestone for Vail Resorts as it continues to expand its presence in North America’s ski industry. With this acquisition, Vail Resorts now owns or operates 15 resorts across North America including seven ski areas in Utah alone: Park City Mountain Resort (PCMR), Canyons Village at Park City; Deer Valley; Snowbasin; Solitude; Brighton; and Alta Ski Area.
Vail Resorts’ acquisition of PCMR brings many benefits to both skiers/snowboarders as well as local businesses in Park City. Skiers/snowboarders will now have access to more terrain across multiple resorts with just one lift ticket or season pass thanks to Vail’s Epic Pass program which provides unlimited access to participating resorts worldwide. Additionally, local businesses are expected to benefit from increased visitation from skiers/snowboarders thanks to improved marketing by Vail Resorts as well as new attractions such as zip lines and mountain coasters which will be added at PCMR over time.
Overall, Vail Resorts’ acquisition of Park City Mountain Resort is an exciting development for skiers/snowboarders as well as local businesses in Park City alike. With this deal, skiers/snowboarders can look forward to even more terrain across multiple resorts with just one lift ticket or season pass while local businesses can look forward to increased visitation thanks to improved marketing by Vail Resorts as well as new attractions added over time at PCMR.
Conclusion:
In September 2017, after months of speculation and negotiation between Powdr Corporation and Talisker Corporation regarding ownership rights over PCMR’s land lease agreement, Vail Resorts acquired Park City Mountain Resort (PCMR) for $182 million dollars – marking an important milestone for Vail’s presence in North America’s ski industry while providing numerous benefits for local businesses and skiers/snowboarders alike with their Epic Pass program providing unlimited access across participating resorts worldwide..
