Blog

Our subject matter is largely made up of questions we are asked by clients and other individuals considering Park City as a place to own or to visit. Most of the questions we are asked pertain to our Golf and Ski communities, but we welcome any questions relating to the Park City market or any real estate topic. We will address every question honestly and answer to the best of our ability. We respect our competition but we don’t shy away from discussing differences in product and services when asked. In addition to answering your questions, we enjoy sharing stories of our clients successes, open houses and Golf, Ski and community events of significance.

 

PCMR Is now Epic!

By Darrick Olsen
Sep 12, 2014

PCMR is Epic!  Vail adds PCMR to its Epic lineup. PCMR is Epic! Vail adds PCMR to its Epic lineup.

 

 

 

 

Your Epic pass just got even more epic. Park City Mountain Resort will be added to the lineup of resorts that you can ski with your Epic Pass from Vail Associates! Just $749 per year, give you access to both the Canyons and Park City Mountain Resort. Park City just became infinitely better!

 

 

 

Vail Resorts puts Park City Mountain Resort in its Epic lineup $182.5 million deal guarantees PCMR's future, ends litigation

Nan Chalat Noaker, The Park Record Posted: 09/12/2014 05:14:28 PM MDT0 Comments

Snowboarders kicked off the opening day of the 2013-14 ski season at Park City Mountain Resort which is scheduled to open for the coming season on Nov. 22.

Snowboarders kicked off the opening day of the 2013-14 ski season at Park City Mountain Resort which is scheduled to open for the coming season on Nov. 22. Vail Resorts purchased PCMR this week.(Park Record file photo)

Snowboarders kicked off the opening day of the 2013-14 ski season at Park City Mountain Resort which is scheduled to open for the coming season on Nov. 22. Snowboarders kicked off the opening day of the 2013-14 ski season at Park City Mountain Resort which is scheduled to open for the coming season on Nov. 22. Vail Resorts purchased PCMR this week.(Park Record file photo)

The Cumming family, which played a major role in establishing Park City's reputation as a world-class destination resort and Olympic venue, has sold its flagship ski area, Park City Mountain Resort, to Vail Resorts for $182.5 million.

The agreement includes the base facilities, parking lots, ski terrain and lifts, water rights and snowmaking equipment owned by Greater Park City Company and an independently owned strip of land on the terrain just above the base held by Ian Cumming. It does not include Powdr's Gorgoza Tubing Park located on Interstate 80 near Kimball Junction.

The agreement, announced Thursday morning, settles a bitter legal dispute that threatened to shut the resort down for the coming ski season. The sale of PCMR to Vail ends the litigation between PCMR and Talisker Land Holdings LLC, and precludes the need for PCMR to post a $17.5 million bond.

The bond was to have been delivered Friday as result of the lawsuit over PCMR's right to continue leasing the upper terrain from Talisker. The bond would have delayed enforcement of an earlier court ruling forcing PCMR off the land, allowing the resort to operate for the coming ski season while it appealed the eviction.

In a press release from PCMR, Powdr CEO John Cumming said, "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.

Leave a Reply

Please enter the security code below
CAPTCHA Image Code*:
  Reload Image



 
 
Existing user sign in: 
Forgot Password?