Killington Resort sold: What we know and what it means

Killington Ski Resort in 2023. (Getty Images)

Things will be different when Killington Resort opens for skiing in the next couple of months compared to when winter operations ended on June 1. However, if everything goes according to plan, nobody should recognize the difference.

For the first time in 40 years, Killington will be an independently run resort after a group of investors led by Michael Ferri and Phill Gross entered a purchase and sale agreement Wednesday for a majority interest in both Killington and Pico Mountain from Powdr Corporation, which will remain as a minority owner, according to a Killington press release.

“The staff will stay the same, the management team stays the same,” Killington president and general manager Mike Solimano said in a video statement released by the resort Thursday.

“Whether you are a business owner in this community, a season pass holder (or) an employee, we’re going to have the resources to continue to improve the resort.”

Killington will remain on the Ikon Pass, the World Cup races will still be held the weekend following Thanksgiving, planned construction for the new village will continue, and the mountain hopes to open early and close late.

Both Ferri and Gross have both spent decades as part of the Killington community as property owners.

“We are grateful to Powdr for their stewardship over the years, as Killington saw substantial improvements to infrastructure, snowmaking capabilities and year-round growth,” Gross and Ferri said in a statement released by Killington. “For our families, Killington is more than just a business or asset to own; it is our home.

“We are thrilled to guide the mountain into a substantial investment phase. Mike and his leadership team have done a great job, and we look forward to giving them the resources to up our game and continue to evolve Killington as a leader among world-class resorts with strong local roots.”

Along with his brother, Ferri owns and operates Valvoline Instant Oil Change franchises and Mr. Sparkle Car Wash locations in Connecticut and New Jersey.

Ferri has been on the board of trustees for Killington Mountain School, where his three sons attended, since 2008 and is currently the vice president.

Gross has been the managing director and healthcare portfolio manager of Boston-based Adage Capital Management, which he co-founded in 2001.

Gross is on the board of trustees for U.S. Ski and Snowboard Foundation, and is a founder of the Killington World Cup Federation.

Killington said that details about future capital improvements will be held off until after the sale is finalized.

While Killington and Pico are currently on the map of Powdr properties, Woodward Killington is not.

Powdr, which is based in Park City, Utah, purchased Killington in 2007 and saw several capital improvements during its 17 years, including the Skye Peak Express Quad, Snowden Six Express and the K-1 Lodge.

“The new owners, who are locals with a deep love for the mountain, share our commitment to the resort’s long-term success,” Powdr said in a statement. “We are confident that their passion and vision will continue to enhance Killington’s legacy and ensure a bright future for the resort and its guests.”

In addition to retaining a minority stake of the ownership, Powdr CEO Justin Sibley will have a seat on the board of directors, according to Killington.

Multiple reports have also said Powdr is attempting to sell off Eldora (Colorado), Mount Bachelor (Oregon) and Silver Star (British Columbia).

Video statement by Killington president and general manager Mike Solimano