PARK CITY — One of Utah's largest ski resorts is changing ownership.
The Bass and Cumming families announced Monday that they have entered into a partnership for the future operation of Snowbird Ski and Summer Resort. Terms of the deal were not disclosed.
Under the agreement, Ian Cumming, co-founder of Park City-based Powdr Corp., will own a majority share of Snowbird, with its co-founder Dick Bass remaining as chairman of the board. Snowbird’s current management team will remain in place.
“I look forward to working with the Bass family and the team at Snowbird in providing world-class experiences on and off the mountain,” Cumming said.
The agreement between the Bass and Cumming families will not involve Powdr Corp., which owns Park City Mountain Resort and Gorgoza Park in Summit County, along with seven other resorts across the country.
The joint venture will provide continuing direction and funding for major capital improvement projects, including a new restaurant and skier services building atop the Aerial Tram, a four diamond remodel initiative for the Cliff Lodge and future renovation of the Snowbird Center, according to a news release.
“This partnership will enable Snowbird to achieve more rapid growth and even greater benefits for our guests in keeping with our founding perspective and philosophy of providing a year-round destination mountain resort for the enhancement of body, mind and spirit, with our ever-present emphasis on environmental protection and sensitivity,” said Bass, who cited his advancing age as the reason he could no longer live and work at Snowbird’s high altitude.