New England’s largest ski resort has been sold to a group of local investors.
Killington and Pico Mountain were sold to investors Phil Gross and Michael Ferri, both of whom have close ties to the Killington area.
Both men have promised to continue to grow the community and develop the ski area into a leading world-class ski resort, while maintaining its strong local presence.
A press release on the resort’s website states that season pass offerings will remain unchanged and business operations will continue as usual. All staff, executives and management will remain unchanged as the investors, the Town of Killington and other partners look to build a brand new mountain village.
Further information, including future investments, will be announced following completion of the sale this fall.
Investor Phil Gross has lived in the community of Killington since 1986, where he raised his family.
Phill serves as a director of several winter sports nonprofit organizations including Share Winter Foundation, Youth Enrichment Services, Winter4Kids, World Cup Dreams Foundation, US Ski and Snowboard Board of Trustees, and the Killington World Cup Foundation.
According to the press release, the other investor, Michael Ferri, has been an active member of the Killington community since 1970 as a skier and for children who attend the Killington Ski Club.
POWDR Corp owns several ski resorts in the US and Canada and is the current owner selling the resort to investors.
The company has been active in the Killington and Pico Mountains since 2007.
The Company will retain a minority interest in the new entity and have a seat on the Board of Directors, reflecting the Company’s continued belief in Killington’s future.
The purchase agreement was signed on Wednesday, August 21, 2024, and the deal is expected to close this fall, subject to customary closing conditions and required approvals.
For more information click here.
