KILLINGTON, V.T. (WHDH) – The current owners of Vermont’s Killington Resort and the nearby Pico Mountain will sell both ski areas to a group of local investors, Killington and Pico announced Thursday.
Parties to the deal signed a purchase and sale agreement on Wednesday and expect to finalize the transition later this year. Both Killington and Pico said daily operations are expected to continue as usual.
“We are being sold to a passionate group of local passholders,” Killington said on Facebook. “Our focus will be community engagement, sustainability, and making the Beast of the East even better for all of you.”
Pico officials said their focus will be on “preserving and enhancing our beloved mountain.”
“Rest assured, everything that makes Pico special – our welcoming atmosphere, family-friendly mountain, and classic New England skiing – will remain unchanged,” Pico said.
POWDR Corp., which owns several other ski areas, bought Killington and Pico in 2007. POWDR is now selling the properties to a group led by investors Phill Gross and Michael Ferri.
In addition to Gross and Ferri, Killington said the incoming investor group includes a number of other “dedicated, passionate investors.”
“Together, Phill and Michael, along with other like-minded investors, are dedicated to ensuring that Pico Mountain remains a beloved destination for generations to come,” Pico said.
Killington said its season pass offerings will remain unchanged. There will be no changes to the resort’s leadership, management or front-line teams.
Killington said officials will announce additional investments at the resort after the sale from POWDR to the new investors closes.
While Pico won’t see the same major capital investments, it said its focus “will remain on delivering the exceptional, unpretentious skiing experience that our community has come to expect.”
“We are thrilled to see Pico’s future guided by people who have been part of our mountain family for decades,” Pico said.
Founded in the late 1950s, Killington is now the largest ski area in New England.
Pico traces its history back to 1937 and has grown over the years.
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