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Vail Resorts buys Park City Mountain Resort for $182.5M

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ParkCityMountains

Breaking News!

After a prolonged legal battle, Powdr Corporation, owner of Park City Mountain Resort (PCMR), and Vail Resorts, Inc. have brokered a truce.  Park City Mountain Resort sold its base facilities, parking, lift ticket offices, lease on the terrain and other necessary functions for an operating ski resort for $182.5 million to Vail Resorts. In 2011, PCMR failed to renew its lease on the land that it operated with its land holding company, Talisker Corporation. Close to a year after the mistake was made, Talisker announced that Vail Resorts would assume the right to the disputed PCMR terrain and become the head representative of the legal battle. On September 9, after years of court hearings and mediation, PCMR recently agreed to pay a $17.5 million dollar bond to keep the resort up and functioning for the upcoming season. Then today, September 11, the sale was announced.

“Selling was the last thing we wanted to do, and while we believe the law around this issue should be changed, a protracted legal battle is not in line with our core value to be good stewards of the resort communities in which we operate,” said John Cumming, CEO of Powdr Corp. “A sale was the only way to provide long-term certainty for PCMR employees and the Park City community. My family and I are extremely grateful to have had the opportunity to play a role in making PCMR what it is today, and we deeply appreciate the dedicated employees and all of the people who have supported us over the years.”

“I think the most important piece of today’s announcement is it really ends all the litigation, the disruption and ensures that we will not be talking about any potential concerns around the resort operating at any time for the future,” said Rob Katz, CEO of Vail Resorts. “I think it provides comfort and long-term security to the company and to the employees of PCMR.”  Vail also announced that PCMR will become part of the Epic Pass effective immediately. The Epic Pass is a popular multi-mountain season pass that is available for the 2014-2015 ski season.

 So what does this mean for Park City Lodging, Inc.?

Park City Lodging, Inc. is embracing the change in ownership of PCMR and looking forward to the upcoming ski season. Rhonda Sideris, President of Park City Lodging, Inc. stated, “The important thing is that PCMR will operate for the ski season and we can get back to selling vacations without the uncertainty our guests and owners were faced with. Our guests have come to know and love Park City, our three resorts and everything we have to offer.  We are very pleased that all three of our resorts will be operational year round, providing over 9300 skiable acres of terrain!”

Park City Lodging, Inc.’s Marlyn Taillon was interviewed on Fox News 13 in regards to the ownership change.

http://fox13now.com/2014/09/11/park-city-mountain-resort-just-sold-to-vail/

 



Planning a Mountain Bike Vacation to Park City

Posted in Media, Mountain Biking, Park City Lodging | Comments Off
Key Tips for Planning Your Mountain Bike Vacation to Park City, UT

Photo Credit: singletracks.com

Recently singletracks.com wrote a great article titled, ” Key Tips for Planning Your Mountain Bike Vacation to Park City, UT” and gave great incite on where to stay and play in Park City for those looking to explore the only IMBA Gold Level Bike Town in the world. No matter what your financial situation is Park City has plenty to offer bikers of all shapes and sizes. Park City Lodging, Inc. was highlighted as the place to stay for reasonably priced lodging. Jeff Barber the author of the article noted, “You’ll find plenty of reasonable rates in Park City during the summer months, many slope side with easy access to the lifts. Check out the Snowflower near the base of Park City Mountain resort where you’ll find studios with full kitchens available for around $100 a night. The Park City Lodging website is also a good place to find reasonably priced rooms.” We couldn’t agree more with Jeff’s observation. Summer lodging is at a significant discount compared to winter operations and allows guests to splurge on dinning and outdoor activities. Whether you’re looking to visit Park City as a sponsored rider, average Joe, or the money saver Park City Lodging can help you plan your vacation. To check out the rest of the article click the link below.

http://www.singletracks.com/blog/mtb-trails/key-tips-for-planning-your-mountain-bike-vacation-to-park-city-ut/



Teton Gravity Research Local’s Guide To Park City

Posted in Media, Mountain Biking, Park City Lodging | Comments Off
main street

Photo Credit: Park City Chamber of Commerce

Earlier this summer Teton Gravity Research released an article titled,  ”Local’s Guide To Park City” offering insider tips of where to ride, eat, drink, sleep, and score deals. We couldn’t agree more with the information provided, its all spot on. If your interested in tips for exploring both iconic destinations along with those that fly under the radar this is a must read. Its also pretty cool that we were identified as the place stay in Park City, highlighting the benefits of staying at a vacation rental rather than a hotel. You can read all about it by clicking here!



5 Things Every Mountain Biker Has to Do in Park City, UT

Posted in Media, Mountain Biking, Park City Lodging | Comments Off
Jeff Barber mountain biking

Jeff Barber from Singletracks

Without question Park City is the ultimate winter destination for skiers and snowboarders. With three resorts in one town locals and guests are spoiled with the amount of options that can be picked for a day of riding or skiing. What many people don’t know is that Park City also happens to be the ultimate summer destination for bikers. IMBA (the International Mountain Bike Association) dubbed Park City as the only Gold Standard Mountain Bike Center in the world. With over 300+ trails to choose from, including lift service trails, Park City has a exactly what every mountain biker is looking for. Our friend Jeff Barber from Singletracks wrote a great article titled “5 Things Every Mountain Biker Has to Do in Park City, UT” the article does an amazing job capturing the full Park City mountain bike experience. If you’re getting ready for a ride in Park City or trying to figure out your next bike destination you will want to read this article. Happy riding! Cheers!

 



Gearing up for the 4th of July

Posted in Events in Park City | Comments Off

American_Flags

After a very crazy weekend full of Ragnar, The Spartan Race, and about 1,000 weddings the town of Park City is getting ready for its busiest summer holiday weekend yet, the 4th of July! In true Utah style the holiday weekend is starting a little early on Thursday, July 3rd at Canyons Resort with a full day of outdoor events, concerts, and fireworks! Yep, fireworks!  If you haven’t spent your 4th of July in Park City before don’t worry, below is an itinerary full of our favorite events that you won’t want to miss.

4th of July Itinerary:

7:00 a.m. Pancake Breakfast at City Park

8:00 a.m. Park City Ski Team 5k Fun Run. For more info call Cole Sport at 435-649-4806.

10:00 a.m. – 9:00 p.m. Rugby games, live music, BBQ at the north end of City Park

11:00 a.m. Famous 4th of July Parade with over 70 floats. Make sure to pick your spots early for viewing on Main Street or Park Avenue.

12:00 p.m. – 4:00 p.m. Food, live music, beer garden, vendors in City Park

5:30 p.m. – 9:30 p.m. Beer garden and BBQ at Park City Mountain Resort

7:00 p.m. – 9:30 p.m. Free concert with The Sideshow Ramblers at Park City Mountain Resort

Dusk Fireworks are set to go off at Park City Mountain Resort

Hope everyone has a great weekend celebrating with family and friends. Please be safe. Cheers!

 



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2064 Prospector Avenue #4 Park City, Utah 84060  |    |  (435) 649.6175  |  Email Us  |  © ParkCityLodging 2011