‘Future is bright’: Largest ski resort in New England being sold to local investors

Vermont’s Killington Mountain Ski Resort, the largest ski area in New England, is being sold to a group of local investors.

POWDR is selling Killington and Pico Mountain to a “passionate group of local pass holders,” an announcement indicated Thursday.

The investors, led by Phill Gross and Michael Ferri, have a “deep connection to Killington” and have pledged to continue to “grow the community to make it a place visitors continue to call home for generations to come,” according to the announcement.

New ownership has promised to “evolve Killington as a leader among world-class resorts,” while maintaining a strong local presence.

Ferri is a partner in the Valvoline Instant Oil Change franchises and Mr. Sparkle Car Wash locations. Gross, a co-founder at Adage Capital Management, has previously served as a director for the US Ski and Snowboard Board of Trustees.

Ferri has been an active part of the Killington community since 1970 as a skier, homeowner, and parent of Killington Mountain School students. Gross purchased his home in 1986 and raised his family in the shadow of Killington Peak.

Michael Solimano, president and general manager of Killington, affectionately known as the “Beast of the East,” said the ownership change is “all positive” for the community. Solimano noted that the staff and management team will all stay the same.

“We’re expecting a really smooth transition and the future is bright,” Solimano said in a video statement.

Killington season pass offerings will have no changes and guests can expect daily operations to be business as usual, according to Solimano.

POWDR, which has been instrumental in Killington’s growth since 2007, will retain a minority ownership stake in the new entity and will have a seat on the board of directors.

The purchase and sale agreement was signed on Wednesday and the deal is expected to be finalized this fall, pending standard closing conditions and necessary approvals.

For more on the sale of Killington, click here .

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