Powderhorn Mountain Resort received a boost Wednesday as it announced agreements with a new management company and a capital investor.
The owners of the 52-year-old ski resort have entered into a long-term lease with Pacific Group Resorts Inc., a Utah-based operating company, that will run the day-to-day operations at Powderhorn. The owners will also be looking to embark on some new projects to enhance the resort experience thanks to its agreement with Zoma Capital of Denver, the investment arm of Ben and Lucy Ana Walton.
The terms of the transactions weren't disclosed.
“We’ve been looking for a partner that would allow us to take the resort to the next level,” Powderhorn General Partner Andy Daly said of Zoma.
Daly, along with co-owners Ken, Tom and John Gart of The Gart Companies, will shift their focus to improving infrastructure and future development, which will likely include added snow-making capabilities and additional bike trails in the summer.
PGRI, which runs resorts throughout U.S. and Canada, is responsible for the “Mission: Affordable” season pass initiative that Powderhorn adopted this past season. The program led to dramatic growth in season pass sales, despite what Daly called the worst ski season in 40 years at the 1,600-acre resort.
PGRI will focus on advancing that program and launching others, including a free lesson program for beginners that will include a season pass for $69 after three free lessons are completed.
Powderhorn employees will now be under the PGRI umbrella. The organization is also in the process of hiring a new general manager, according Executive Vice President Mark Fischer. Previous Powderhorn GM Sam Williams left the post in July to oversee operations at two resorts near Durango.
Read the full story in Thursday's Daily Sentinel.