Killington Sold To Local Investors
The largest ski area in the Eastern US has bucked the trend of recent decades by being sold by one of the big multi-resort owner groups to local investors.
The largest ski area in the Eastern US has bucked the trend of recent decades by being sold by one of the big multi-resort owner groups to local investors.
“Big news coming from The Beast. We are being sold to a passionate group of local passholders. Our focus will be community engagement, sustainability, and making the Beast of the East even better for all of you. A big thank you to POWDR for getting us here. Your legacy will live on,” a statement from the resort today begins.
Established in 1958, Killington has been owned by various multi-resort groups for four decades, the first S-K-I Limited established by its original owners, the Sherburne Corporation. In 1996 it became part of the American Skiing Company then the Powdr Corporation took over on May 11, 2007 and has run it for the past 17 years.
"Daily operations will continue as usual and you can expect the same unmatched year-round mountain adventure, the longest winter season in the East, and the Stifel Killington Cup from Nov 30-Dec 1, 2024. Our pass offerings will remain the same along with no changes to our management or front-line team members,” the statement reassures Killington fans.
The investors, led by Phill Gross and Michael Ferri have a deep connection to Killington, the resort says, and pledge to continue to grow the community to make it a place our visitors continue to call home for generations to come. They are making this purchase with the promise to evolve Killington as a leader among world-class resorts, while maintaining its strong local presence.
Phill Gross purchased his home in 1986 and raised his family in the shadow of Killington Peak. He now owns two properties in the area, including one on the Great Eastern Trail. He cites his unique kinship with the resort, the community, and the mountain itself as the core reasons for joining the ownership team.
Phill is a director at several winter sports related non-profits such as Share Winter Foundation, Youth Enrichment Services, Winter4Kids, World Cup Dreams Foundation, the US Ski and Snowboard Board of Trustees and the Killington World Cup Foundation.
Michael Ferri has been an active part of the Killington community since 1970. As a skier, homeowner, and parent of Killington Mountain School students, Killington has played a massive role in the fabric of Michael’s life.
He and Phill have a longstanding relationship fostered through a shared love of Killington and have successfully turned that connection into a robust working partnership. There are a number of additional dedicated, passionate investors who have the same priorities as Michael & Phil: Keep Killington independent and invest in the Resort as if it is our home, because it is.
The purchase and sale agreement was signed on Wednesday, August 21, 2024, and the deal is expected to be finalized this fall, pending standard closing conditions and necessary approvals.
