Ian Cumming Powdr Founder, Snowbird Owner Dies at 77.

[Muleski]

See link below. Died at his home in Jackson Hole. RIP.

https://www.sltrib.com/news/busines...tivist-ian-cumming-dies-in-wyoming-at-age-77/

 

[Muleski]

Follow-up. Ian's son John is "stepping down" as the CEO of POWDR, but it sounds like he'll remain as Chairman {since he owns most of it}. He's going to continue to be the chair of a number of a number of other family holdings/foundations, etc. Among them, Snowbird.

https://www.parkrecord.com/news/powdr-founder-and-ceo-john-cumming-steps-down/

I would not be surprised to see a deal on the horizon, for some {all} of the properties, and even more so for Snowbird, which the family owns outside of POWDR. I would be surprised to see buying all of POWDR, and holding them, as it would involve divesting a lot of their properties. Just have a hunch that Cumming may be interested in other things, and if the market is "hot" to sat the least to sell, it could happen. It's different group of areas/resorts, though, to be sure.

It won't be Vail. Will never be Vail, after the PCMR embarrassment. John Cumming can do whatever he pleases, with whomever he pleases. Alterra would have big interest in a few, I believe. And none in many of them. Of course, the same was said about Vail and Crested Butte. Lots of discussion that they took on both Okemo and Sunapee to end up with Crested Butte. And to keep Crested Butte away from Alterra.

Just sense that this may signal more than John stepping down.Might be a ling time process as well.

Never ending.........

 

[Tricia]

Wow, I missed this back in February. Must be because we were traveling back from Colorado at that time.
It will be interesting to see how this shakes out.

 

[tball]

. Lots of discussion that they took on both Okemo and Sunapee to end up with Crested Butte. And to keep Crested Butte away from Alterra.

Interesting. Just observing from the outside, it seemed like Alterra wasn't interested in having CB on the Ikon Pass based on the timing and comments at the time. The deal to join the Epic Pass came a bit later, seemingly because CB was left out in the cold. I assumed VR's acquisition of CB was then a natural consequence to that partnership.

That's how it looked through the lens of an interested observer, and what seems to make sense from a business perspective of all parties. Was Vail really after CB all along?

 

[fatbob]

So might as well speculate - makes sense for Alterra to buy Snowbird, Kton and possibly Batchelor. Copper is already all in with Alterra so assume that's a given. Others not so much unless I'm missing something.

 

[Wasatchman]

It will be a tragedy if Snowbird is sold to Alterra.

I don't think this is a deal that is likely to happen (at least anytime soon, say in the next five years as you can never say never) for several reasons.

1), the Cummings like the business. They immediately went out and bought a controlling interest in Snowbird when PCMR was lost to Vail, so I don't see them simply turning around and then selling Snowbird to Alterra.
2) the Cummings are mega wealthy and don't need to sell.
3) Snowbird (like Jackson Hole and Alta) is one of the few resorts in USA strong enough to easily survive as an independent.
4) Even if Cummings wanted to sell (and fortunately I do not think they do), the value of Snowbird to Alterra will only go up by waiting anyway, especially with planned expansion and increasing scarcity of marquee ski resorts available as Vail and Alterra continue on their acquisition binges.

Muleski, I think you are reading way too much into John stepping down as CEO at POWDR (Snowbird) as being related to setting up as a possible sale. He already has a full plate of business interests to take care of, and we all know how PCMR ended up.