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September 12, 2014

Park City ski resort sold for $183M

  • Vail CEO Rob Katz said he'll connect Canyons and Park City to create a 7,000-acre resort, the largest in the country.
  • SALT LAKE CITY (AP) — One of Utah's largest ski areas was sold to Vail Resorts Inc. Thursday, resolving a legal battle between two ski titans and paving the way for the creation of what could be the country's largest resort.

    The $182.5 million deal, effective immediately, gives Vail the base area and parking lot at Park City Mountain Resort, as well as lifts and snowmaking equipment. The Colorado-based company is already leasing the upper 3,000 acres of slopes, but couldn't use them without the base area owned by Powdr Corp.


     
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