POWDR, the current owner of Killington Resort and Pico Mountain, will sell both to local investors. Michael Ferri and Phil Gross, two Killington homeowners, lead the investor group. According to a press release, the sale will close this fall, with the price yet to be released. The group will share details on capital investments at that time.
Killington and Pico will have new owners with a passion for winter
Gross and Ferri are deeply involved in winter sports, and each owns a home in the area. Ahead of the sale, they shared their enthusiasm for making Killington even better, saying: “We are thrilled to guide the mountain into a substantial investment phase. We look forward to giving them the resources to up our game and continue to evolve Killington as a leader among world-class resorts with strong local roots.”
Ferri owns and partners in East Coast Valvoline Instant Oil Change locations. He began visiting Killington as a boy, and his family has owned a house there since 1970. Since 2008, he’s been a Killington Mountain School trustee.
Gross co-founded Adage Capital Management and is a board member of the U.S. Ski and Snowboard Association and World Cup Dreams Foundation. In addition, he started the Killington World Cup Foundation and Share Winter Foundation.
Mike Solimano, President and GM of Killington Resort, said: “This local group, they’ve been skiing here for decades, and they really like what we’ve been doing — so they just want to be able to give us more resources to continue to make Killington a great resort.”
