Powder Mountain – Ian Matteson
EDEN – Netflix co-founder and executive chairman, Reed Hastings, has acquired a majority ownership stake in Powder Mountain, one of the largest ski resorts in the United States. The purchase was made from Summit Series’ founders, with Greg Mauro remaining as the other co-owner. The terms of the deal have not been disclosed, but Hastings will assume one of Powder Mountain’s five board seats and share oversight of management and operations.
Powder Mountain operates on 8,464 acres in Northern Utah’s Ogden Valley and boasts 154 trails, nine lifts, two terrain parks, and a diverse mix of mountain lodging. The resort has a unique policy of capping day passes and season pass sales to provide a guest-first ski experience. Hastings and his wife Patty have owned a property on Powder Mountain for eight years and are avid snowboarders.
“We’re looking forward to being a part of Powder Mountain’s future and to help safeguard what makes this place special. Also, we look forward to funding some lift upgrades, restaurants, and enhanced parking,” Hastings said in a release.
Hastings’ acquisition of Powder Mountain’s ownership and board comes after the appointment of new General Manager Kevin Mitchell who brings experience in resort operations and development to Powder’s leadership team. Mitchell was the GM of California’s Homewood Mountain Resort for a decade before joining Powder Mountain.
“With Kevin’s background, and Reed joining the ownership, we can move forward together with a shared purpose led by a seasoned and talented team,” said Greg Mauro, Powder Mountain long-time majority owner.
Powder Mountain has over 500 inches of annual snowfall and is situated an hour north of Salt Lake City International Airport. The resort is known for its uniquely un-crowded experience due to daily caps on lift tickets and yearly caps on season passes. In addition to skiing, the resort also offers cat-skiing options and downhill mountain biking in the summer months.
“We’re excited to improve Powder Mountain further,” said Hastings.