Powdr Corporation

POWDR is one of the largest ski resort operators in North America, along with Boyne Resorts, Peak Resorts, Alterra Mountain Company, Aspen Skiing Company and Vail Resorts.[1] Unlike its competitors, POWDR focuses on being an adventure lifestyle company rather than on real estate development. It is owned by the Cumming family and headquartered in Park City, Utah.[2] John Cumming, who co-founded the clothing company Mountain Hardwear, and, prior to that, traveled the globe climbing big mountains as a guide for Rainier Mountaineering,[3] founded POWDR and currently serves as Chairman. In June 2018, Cumming stepped down as CEO and appointed Wade Martin, previously POWDR's chief revenue officer, and Justin Sibley, previously POWDR's chief financial officer, as co-presidents.[4] Prior to joining POWDR in 2013,[5] Martin launched the Dew Tour and served as CEO of NBC and MTV's joint action sports venture, Alli.

POWDR
Private
Founded1994
FounderJohn Cumming
HeadquartersPark City, Utah
Key people
John Cumming, Chairman
Websitehttp://www.powdr.com/

History

POWDR was founded in 1994 by John Cumming with the purchase of Park City Mountain Resort.[6] Later that year, the company expanded into California with the purchase of Alpine Meadows near Lake Tahoe.[7] In August 1995, the company continued its expansion in California with the purchase of the Boreal and Soda Springs ski areas.[8] In April 2001, POWDR acquired Mt. Bachelor ski area from a group of shareholders.[9] The company bought Las Vegas Ski and Snowboard Resort in November 2003.[10] Killington and Pico were sold to POWDR by American Skiing Company in May 2007[11] and in December 2019 POWDR purchased SilverStar Mountain Resort, its first mountain resort in Canada[12].

In July 2007, POWDR sold Alpine Meadows to JMA Ventures.[13]

Since 2008, when POWDR acquired Outside TV, POWDR has diversified its focus to adapt to the changing ski industry scene and evolve into an “adventure lifestyle company.”[14]

POWDR acquired Copper Mountain in Colorado in December 2009 from Intrawest.[15] Powdr acquired "World of Adventure Sports Presented by GoPro", an Emmy Award-winning TV series on December 3, 2013.[16] In July 2011, POWDR bought majority share of action sports’ Camp Woodward.[17]

In March 2015, Louisville, Colorado-based event-production company Human Movement Management was acquired by POWDR, evolving the company's portfolio from just ski resorts into an active lifestyle enterprise.[18]

Since POWDR's June 2016 acquisition of Eldora Mountain Resort in Colorado,[19] POWDR has invested significantly to return the 55-year-old ski area to its roots as Boulder's backyard hill.[20] In fall 2017, POWDR opened its fifth Woodward facility and first location in Mexico, at the Hard Rock Hotel Riviera Maya. In September 2018, POWDR broke ground on its Woodward Park City youth sports complex[21].

Lawsuits

Non-honoring of certain passes offered by prior Killington owner

In July 2010, A federal judge dismissed a class action lawsuit against Killington Resort over so-called 'lifetime' ski passes. Judge Christina Reiss found that the resort's owner was under no legal obligation to honor the investor season passes when it purchased Killington Resort in 2007. POWDR was not named in the lawsuit.[22]

Loss of Park City lease

When Park City Mountain Resort, a POWDR resort, mistakenly failed to renew a "sweetheart lease" for a portion of its ski terrain acreage, the company was eventually evicted from the property and, after a protracted legal fight, "reluctantly" sold its remaining area assets to Vail Resorts for approximately 180 million dollars in late 2014.[23][24]

Properties

West

Mountain West

Northeast

Canada

Mexico

Properties in Development
  • Woodward Park City, Park City, Utah[26]

Former Properties
gollark: oh bee.
gollark: ++achieve test
gollark: ++help
gollark: ++help
gollark: ++help

References
  1. "Ski Curbed".
  2. http://www.powdr.com/site/
  3. "Denver Post".
  4. "Powdr founder and CEO, John Cumming, steps down". Retrieved 2018-10-29.
  5. "Powdr Corp. hires veteran of action sports world". The Salt Lake Tribune. Retrieved 2018-10-29.
  6. "Park City Resort Owner Sells Area to S.L. Financier". April 4, 1994.
  7. "Powdr Bids for Alpine Meadows". April 5, 1994.
  8. "Ski Areas Change Hands". The Sacramento Bee. August 11, 1995. The company that owns the Alpine Meadows ski resort near Tahoe City said Thursday that it has purchased the Boreal and Soda Springs ski areas near Donner Summit.
  9. https://news.google.com/newspapers?id=dnIVAAAAIBAJ&sjid=musDAAAAIBAJ&pg=2112,5288468&dq=mount+bachelor+sold&hl=en
  10. Chris Jones (November 19, 2003). "Lee Canyon ski resort sold to Park City, Utah-based venture". Gaming Wire.
  11. "Killington and Pico ski resorts sold". The Boston Globe. February 20, 2007.
  12. H, Darren; Dec 3, schuh-; Story: 271823, 2019 / 9:24 am |. "American company purchases Silver Star Mountain Resort - Vernon News". www.castanet.net. Retrieved 2019-12-03.
  13. Francisco, San (July 24, 2007). "JMA closes on purchase of Alpine Meadows".
  14. "Powdr restructuring; acquisitions focus on adventure lifestyle". The Mountain Times. 2017-05-24. Retrieved 2018-01-10.
  15. http://www.summitdaily.com/article/20091117/NEWS/911179997/1008&parentprofile=1055
  16. http://www.saminfo.com/news/powdr-enterprises-acquires-adventure-sports-tv-series
  17. "Sports Business Daily".
  18. "The Denver Post".
  19. "Denver Post".
  20. "Eldora's speedy lift and $10 million in "cabiny" improvements all part of new owner's appeal to local skiers". The Know. 2017-11-24. Retrieved 2018-01-10.
  21. Brough, Rick. "Woodward Park City Breaks Ground On Sports Complex". Retrieved 2018-10-29.
  22. Edwards, Bruce (July 6, 2010). "'Lifetime' Ski pass holders lose lawsuit against Killington". The Times Argus. Retrieved July 6, 2010.
  23. http://www.ktvz.com/news/mt-bachelors-parent-sells-big-utah-resort/28038840
  24. https://www.law360.com/articles/540606/park-city-mountain-resort-loses-lease-after-costly-error
  25. "A look inside the new Woodward Riviera Maya Mexico". GrindTV.com. 2017-11-15. Retrieved 2018-01-10.
  26. "Discussions about Woodward action camp wrapping up". Retrieved 2018-01-10.
  27. http://www.ksl.com/index.php?sid=31515553
  28. http://news.vailresorts.com/corporate/vail-resorts-acquires-pcmr.htm
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.