Vermont Ski Giants Killington and Pico Sell: Local Investors Take the Reins

Vermont Ski Scene Sell Off: Killington and Pico Mountains Find New Local Ownership In a move that's set to reshape the landscape of Vermont skiing, POWDR has announced the sale of Killington and Pico Mountains to a small group of local investors as reported exclusively by Stuart Winchester at The Storm Skiing Journal and Podcast. This transaction marks a significant change for two of the East Coast's most prominent ski resorts while signaling a larger shift in POWDR's business strategy.Killington, known as "The Beast of the East," is the largest and busiest ski resort east of the Rocky Mountains. With its 1,509 acres spread across six peaks and served by 20 lifts, it has long been a cornerstone of Vermont's winter sports scene. Nearby Pico Mountain, though smaller at 468 acres, has been under shared management with Killington since 1989, creating a powerful duo in the Green Mountain State's ski industry.The new ownership group is led by longtime Killington enthusiasts Phill Gross and Michael Ferri. Gross, who learned to ski at Killington and has owned a home there since 1986, brings extensive experience in finance as the managing director of Adage Capital Management. His involvement in the ski industry includes roles with the U.S. Ski and Snowboard Association and the Killington World Cup Foundation. Ferri, owner of East Coast Valvoline Instant Oil Change franchises, has been deeply involved with the Killington Mountain School as a trustee since 2008.

An full view of Killington's peaks which the resort calls home. Credit: Killington Resort While neither Gross nor Ferri has direct ski area management experience, they've made it clear that their role will be to provide resources and support rather than to manage day-to-day operations. "We don't pretend to know how to run a mountain," Gross stated in an interview. The new owners have committed to retaining all current staff, including Mike Solimano, the longtime President and General Manager of Killington and Pico.This change in ownership comes with promises of increased capital investment, welcome news for skiers and riders who frequent these mountains. Both Killington and Pico have benefited from significant upgrades under POWDR's ownership, including the recent $30 million K1 base lodge at Killington and extensive snowmaking improvements across both resorts. The new owners have pledged to continue and even accelerate this trend of investment.For skiers and riders concerned about potential changes, there's good news: Killington and Pico will remain on the Ikon Pass, ensuring continued access for passholders. The new ownership group has also committed to maintaining Killington's reputation for having the longest ski season in the East, often running from October to June, and to continuing to host the popular Stifel World Cup event on Thanksgiving weekend.