'Good things happening': Killington's general manager sees a bright future for ski area

Mike Solimano, president and general manager of Killington Resort and Pico Mountain , was a little surprised and very optimistic about the sale of the resort by POWDR to a group of "passionate passholders," who have been skiing at Killington for much of their lives.

"I think it's a great opportunity to continue to be independent," Solimano said on Thursday. "We're lucky we're getting new owners that are very focused on not really taking money out of the business, and putting profits back into the resort. That's a great story for all of Vermont and the Killington region."

Solimano also praised POWDR's tenure as owner of the resort.

"POWDR replaced two major base lodges and spent $37 million on our K1 base lodge and gondola," he said.

Who are Phil Gross and Michael Ferri

Two of the new owners, Phill Gross and Michael Ferri , are based in Boston, but are as close to Killington locals as you can be without living there full-time, Solimano said.

"Michael (Ferri) learned to ski at Killington when he was five in the '70s," he said. "That's about as local as you get at ski resorts. Generations have grown up here."

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Solimano, 55, has been president and general manager at Killington for 12 years and has worked at the resort for 23 years. He said over the years Gross, who has an investment business in Boston called Adage Capital Management, has always been interested in how he could be involved in improving Killington but never had the opportunity until now.

When POWDR decided to sell the resort, John Cumming, CEO of POWDR Corporation, contacted Gross and asked if he would be interested in buying Killington before he sold it to somebody else.

"I give (Cumming) a lot of credit," Solimano said. "John reached out to Phil, maybe in the spring."

Snowmaking and lifts are likely to be the focus of new investment

While Gross and Ferri are in the lead, there are others in the small group of investors who are buying Killington.

"They're still firming up the exact group right now," Solimano said. "We're not announcing everybody until it's finalized. Some in the group might want to stay private. Even (Gross and Ferri) wanted to be below the radar. They look at it as their home and they have the resources to try to make it better. Why not?"

Once the deal closes sometime this fall, Solimano expects any new investments to focus on two areas: snowmaking and ski lifts.

"Everywhere on the East Coast snowmaking and lift infrastructure are most important," Solimano said.

Solimano declined to share the sale price. He said the investor group is buying "the entire entity," and will get all the licenses and leases with the state that accompany it, which he believes will streamline the closing.

It's a big change, but Solimano said the thought of retirement never entered his mind.

"I want to see how it all goes," he said. "We have a lot of exciting stuff here, I can't stop yet. I'm too young and too many good things are happening."

Contact Dan D’Ambrosio at 660-1841 or ddambrosio@freepressmedia.com. Follow him on Twitter @DanDambrosioVT.

This article originally appeared on Burlington Free Press: 'Good things happening': Killington's general manager sees a bright future for ski area