Powdr Corp. has sold it's flagship resort, Park City Mountain Resort to Vail Resorts, effectively immediately. This includes the base area, the parking lots, lower ski terrain, chairlifts as well as the water and snowmaking for the entire mountain. A purchase price wasn't reported.The agreement stipulates that Vail must retain PCMR employees in their current roles.
Tuesday's announcement that Park City Mountain Resort would post the multi-million dollar bond to operate the resort this upcoming winter came as good news to pass holders and the local business owners at the base of Park City Mountain Resort. Leslie Thatcher has more.
The news that there will be a ski season at Park City Mountain Resort - that the resort will post a $17.5 million bond to keep operating this winter - was welcomed by Park City Municipal and the Park City Chamber Bureau. And it was commended by Talisker, the landlord for the resort's ski hill. Rick Brough has more.
Bond Payment to Ensure PCMR Will Have Ski Season While Negotiations for Long-Term Resolution Continue
Submitted by Powdr Corp
PARK CITY, UT-- September 9, 2014 - Park City Mountain Resort (PCMR) announced today that it will pay the $17.5 million bond amount ordered by the Court to ensure the resort will open as planned this season, scheduled for November 22, 2014.
In a hearing Friday afternoon, Third District Court Judge Ryan Harris ruled Park City Mountain Resort has to post $17.5 million to keep operating this ski season, and to use the 3,000-acre ski mountain owned by Talisker.The judge ruled the bond has to be posted by the end of next week, on Friday, September 12. Rick Brough has more.
With a critically important court hearing in Park City's ski resort fight just hours away, Ski Utah President Nathan Rafferty is one of those who is well aware that winter is coming. Rick Brough has more.
Today is the day: After several continuations of a court hearing that will decide how much Park City Mountain Resort must pay to landlord Talisket Land Holdings in order to continue operating another season, the parties are scheduled to meet ion court today at 3 PM. Leslie Thatcher has more.
If you're intently watching the Park City ski resort fight in court, you will have to bear the suspense a little longer. A hearing set for Wednesday, where a vitally important ruling from Third District Court Judge Ryan Harris was expected, has been postponed for two days - at the request of both parties. Rick Brough has more.