POWDR to Sell Killington to Local Pass Holders in Major Shakeup

The Beast is going independent. Today, August 22, 2024, Killington Ski Resort announced that it would be sold from its previous mountain conglomerate owner, POWDR, to a group of local pass holders alongside Pico Mountain. POWDR will remain a minority investor and hold a board seat.

The new owners plan to maintain business as usual at Killington. No changes are coming to the resort’s season pass program, and Ikon Pass holders can access Killington next winter.

The Stifel Killington Cup is still scheduled for November 30th through December 1st this year, and progress will continue on the new village partnership between Killington Resort, the Town of Killington, and Great Gulf.

“There will be no changes to the leadership, management or front-line teams, ensuring continuity and stability in our operations,” reads a blurb published on Killington’s website. Micheal Solimano, Killington and Pico’s President and General Manager, remains in his position. The new ownership group is led by Phill Gross and Michael Ferri, who are longtime members of the Killington community.

Gross is a Co-Founder of Adage Capital Management, L.P., where he has served as a Managing Director and Healthcare Portfolio Manager since the firm’s founding in 2001. He first purchased property in the Killington area in 1986. Gross is a director at several winter sports non-profits, including the Share Winter Foundation, Youth Enrichment Services, Winter4Kids, and the World Cup Dreams Foundation.

Ferri owns and operates numerous Valvoline Instant Oil Change® franchises and Mr. Sparkle Car Wash® locations with his brother, Paul. He first became embedded in the Killington community in 1970. He’s a local homeowner, a parent of Killington Mountain School students, and, of course, a skier.

In an in-depth overview of the ownership change, The Storm Skiing Journal and Podcast reported that neither Gross nor Ferri have direct ski resort management experience. They plan to let Killington’s pre-existing staff do their thing. Gross told The Storm that none of the new owners will be making operational decisions.

The Storm also reported that several POWDR sell-offs are likely coming. Mt. Bachelor, Oregon; Eldora, Colorado; and Silver Star, British Columbia, are scheduled to go on sale in the next few weeks, as confirmed to The Storm by POWDR.

The sale of Killington is expected to be finalized this fall, after which more information, including future investments, will be announced. POWDR bought Killington in 2007.

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