A new era of independence begins at Killington Resort

The Beast of the East is entering a new chapter in its storied history with its upcoming sale to a passionate group of local passholders. The investors, led by Phill Gross and Michael Ferri have a deep connection to Killington, and pledge to continue to grow the community to make it a place our visitors continue to call home for generations to come. They are making this purchase with the promise to evolve Killington as a leader among world-class resorts, while maintaining its strong local presence. 

Well, for starters, everything you love about Killington and Pico is staying the same. Killington season pass offerings will have no changes and we will remain on the Ikon Pass. Guests can expect daily operations to be business as usual, with a continued focus on offering unsurpassed year-round mountain adventure grounded in hosting the longest winter season in the East and hosting the Stifel Killington Cup, November 30-December 1, 2024. Killington Resort, the Town of Killington and Great Gulf’s partnership will continue to build out the brand-new mountain village. There will be no changes to the leadership, management or front-line teams, ensuring continuity and stability in our operations.  

More information, including future investments, will be announced after the closing of the sale this fall.

We will continue our focus on building community, embracing our local roots and showing how staff, guests, and locals are part of the spirit that makes Killington The Beast of the East. Together, we can all Be The Beast.  

The investors, led by Michael & Phill, are committed to building relationships on shared values and goals for the resort, and maintaining the community spirit that’s forged Killington’s identity for almost a century.

Phill Gross has followed the healthcare therapeutics industry for over 40 years and is a Co-Founder of Adage Capital Management, L.P. serving as Managing Director and Healthcare Portfolio Manager at the firm since its founding in 2001.  

His Killington story began in 1986 when he purchased his home and raised his family in the shadow of Killington Peak. He now owns two properties in the area, including one on the Great Eastern Trail. He cites his unique kinship with the resort, the community, and the mountain itself as the core reasons for joining the ownership team.  

Phill is a director at several winter sports related non-profits such as Share Winter Foundation, Youth Enrichment Services, Winter4Kids, World Cup Dreams Foundation, the US Ski and Snowboard Board of Trustees and the Killington World Cup Foundation.

Michael Ferri has been an active part of the Killington community since 1970. As a skier, homeowner, and parent of Killington Mountain School students, Killington has played a massive role in the fabric of Michael’s life.  

Michael is a driving force in the automotive industry, spearheading dynamic business ventures alongside his brother, Paul. Together, they own and operate Valvoline Instant Oil Change® franchises and Mr. Sparkle Car Wash® locations.  

As part of a family-owned business, Michael places great importance on contributing to the communities where their businesses operate. He recognizes that their success is deeply intertwined with the well-being of local communities. This understanding drives him to engage actively in community development initiatives, including sponsoring local events, supporting educational programs, and partnering with local charities.  

He and Phill have a longstanding relationship fostered through a shared love of Killington and have successfully turned that connection into a robust working partnership. There are a number of additional dedicated, passionate investors who have the same priorities as Michael & Phil: Keep Killington independent and invest in the Resort as if it is our home, because it is.  

POWDR has been instrumental in Killington’s growth since 2007. Their contributions to the Killington experience include the Skye Peak Express Quad lift, building tunnels to improve flow at intersections, and upgrading to a convenient RFID ticketing system. They also improved snowmaking across the resort, upgraded to the Snowdon Six high-speed bubble chair lift, and built the state-of-the-art K-1 and Peak Lodges, creating a richer experience across the entire resort. POWDR retains a minority ownership stake in the new entity and will have a seat on the board of directors, reflecting the company’s continued belief in the future of Killington. 

The purchase and sale agreement was signed on Wednesday, August 21, 2024, and the deal is expected to be finalized this fall, pending standard closing conditions and necessary approvals. 

GENERAL

Will there be a change in the daily operations of the resort?  

No, our commitment remains in place to offer you the longest winter season and year-round adventure are critical to the ongoing success of our resort and community. Our opening and closing dates for winter and summer operations will continue to be similar to the past.

No,  we remain committed to Pico’s success, and we anticipate a mid-December-early April operating schedule. We will still be closed non-holiday Tuesdays and Wednesdays; this operating plan works well for Pico.

Will you continue to host the Audi FIS Ski World Cup?  

Yes, the November 2024 Stifel Killington Cup event will proceed as planned

Will you remain a cash-free resort?  

Yes, the decision to go cash-free was a locally made decision that has improved food and beverage transaction times, improved staff safety and allowed us to reallocate staff resources from cash management to more value-add areas like on-mountain safety.

Is everything Killington owns and operates included in the sale?  

Yes, the investors have signed an agreement to purchase the entirety of our operations including Pico Mountain, the Wobbly Barn, Killington Sports Rt 4, Killington Golf Course, and the Killington Grand Hotel, our employee housing locations, wastewater treatment facility etc.

Will you continue with your Play Forever initiatives?  

Play Forever is POWDR’s commitment to ensuring that future generations have the same opportunities for an adventurous life that we enjoy today. We are proud of the impact we’ve had in our community and the environment as a result of our partnership with POWDR on Play Forever.

We will continue to support our community and remain committed to protecting the environment, but our efforts will no longer be associated with POWDR’s Play Forever program. We look forward to developing and announcing our own umbrella initiative to focus our efforts in these areas in the future.  

Will you maintain the Woodward Mountain Park? 

More information on this and other capital investments will come after we close.  

Are you planning any changes to Uphill Travel?

No, we don’t plan on changing routes or our 24-hour access policy.  

TICKETS AND SEASON PASS

Will Ikon Passes still be valid at Killington/Pico?

Yes, we will remain a partner destination on the Ikon Pass this season. There will be no changes to Ikon Pass access or being a friend tickets for Ikon Pass holders.

Will there be any changes to any Killington or Pico season pass products (Beast 365, Unlimited, Midweek, Community Passes, K.A. All Season Pass, My Pico Season Pass etc.)

No, our season pass options, pricing, and perks will remain the same for the 2024/25 winter season. Details on 2025/26 season passes will be released this spring, on the usual pass release schedule.

Will I need to sign a new waiver or get a new pass printed?

No, we have entered into a shared services agreement with POWDR to allow for us to retain and use our existing applications and systems across the resort for this season to ensure a smooth transition for guests and staff.

Will you still offer Fast Tracks? 

Yes, we will continue offering Fast Tracks. Our pricing and availability strategy ensures a minimal impact to non-Fast Tracks guests while generating ancillary revenue for re-investment back into the resort.

Will you still offer preferred (K-1) and valet (Snowshed) parking? 

Yes, we will continue offering paid parking options.

Will you keep the 100 Day Club? 

No, who in their right mind skis and rides 100+ days in a season? Just kidding, we love the commitment our passholders have to the sport.

REAL ESTATE DEVELOPMENT

Does the sale have any impact on the new village?

No, we remain committed to working together to realize the development and build-out of the new mountain village project.  

Does the sale have any impact on the Basecamp Development at Bear Mountain?

No, the sale of the land in the Bear Base Area to the Basecamp development is moving forward and we look forward to seeing that project break ground in the near future.