New owner of Utah’s Snowbird resort is co-founder of Powdr Corp.
May 13, 2014
SALT LAKE CITY — Ownership of Utah's Snowbird Ski & Summer Resort is changing hands.
Resort co-founder Dick Bass announced Monday that majority interest is going to a Wyoming businessman whose family owns a series of Utah ski areas.
Ian Cumming, a co-founder of Park City-based Powdr Corp., is taking ownership.
But the agreement won't involve Powdr Corp., which owns Park City Mountain Resort, Gorgoza Park and seven other resorts across the country, including Copper in Colorado.
The price and terms of the deal weren't disclosed.
The Salt Lake Tribune reports Bass remains chairman of the board and the resort will retain current management as it plans renovations.
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In a pending lawsuit against Powdr Corp., Vail Resorts alleges that Park City Mountain Resort didn't renew its lease on time.
Powdr says the allegations are unfounded.