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Deer Valley Buys Solitude: Utah Mountains Change Again

skiers manyIn October, Deer Valley announced their acquisition of Solitude Ski Resort. The actual terms of the purchase have not yet been released, but the implications are notable, especially considering the new partnership between Canyons Resort and Park City Mountain Resort (PCMR).

We talked a while back about the ONE Wasatch proposal re-presented this year by Ski Utah. Although the idea got mixed reviews, as the Utah ski resorts become more interconnected, one has to wonder if ONE Wasatch is bound to happen. The idea suggested that seven of Utah’s premier ski resorts combine their services using a series of lifts that would allow skiers to move through the mountains from one resort to the next.

The first step in creating ONE Wasatch is in action, as Vail Resorts works to combine Canyons and PCMR. Some argue that Deer Valley’s purchase of Solitude is step two, however, Deer Valley was never originally in the seven-resort plan and the connecting lift between the two canyons involved PCMR and Brighton. That said, Deer Valley has expressed their support for the ONE Wasatch proposal.

skier girlUltimately, there are a lot of differences between the two acquisitions this year. Deer Valley announced that the parks will remain separate for the time being, and that Solitude will still allow snowboarders while Deer Valley will remain a ski-only resort. On the other hand, Canyons and PCMR have already started connecting the two and announced a $50 million improvement plan to be completed by next season.

Deer Valley’s purchase came as a surprise to some since Solitude and Brighton Ski Resort had discussed a purchase over the last several months. After the deal fell through, Solitude partnered with Deer Valley. When commenting on the purchase, General Manager of Deer Valley Bob Wheaton, said that Solitude will continue to work with their neighbors at Brighton, including keeping the current lift connection open, and the possibility of combining the resorts in the future is not off the table.

The transfer of Solitude to Deer Valley will begin at the end of the 2014-2015 ski season, so no real changes will be seen until next year. But Deer Valley plans to exchange employees between the two resorts as a training process, allowing Deer Valley to learn all they can from Solitude’s day-to-day operations, and vice versa. The only real visible difference this year is that season pass holders will get four day-tickets to the other resort.

The outlook for the two resorts is exciting, as is the future for Utah skiing in general. This year has been instrumental in the future of Utah’s mountains and the results have been overwhelmingly positive and almost always in the skier and traveler’s favor.

ski liftAs the Utah mountains continue to be developed and the resorts improve their amenities, the already strong tourism industry in Utah will grow. The timeshare industry is no exception and will grow as the resorts do. We talk a lot about the right time to buy a timeshare, and when it comes to Park City timeshares, the time is now.

Timeshares are an investment, so whether you’re looking to sell a Park City timeshare or buy a timeshare resale, timing is going to play in big factor in the value of your investment. If you have questions about Park City timeshares, contact a Premier Timeshare Resale agent today!

PCMR Announces $50 Million Improvement Project

Image curtesy of www.parkcitymountain.com

Image curtesy of www.parkcitymountain.com

Park City Mountain Resort (PCMR), Vail Resorts’ newly acquired property, made a big announcement yesterday that will change the future of skiing and snowboarding forever.

Throughout the summer, we’ve followed the lawsuit between PCMR’s previous owner Powdr Corp. and Vail Resorts. In September, the courts finally ruled and Vail ended up buying PCMR outright for a cool $182.5 million.

Anyone uneasy about the purchase was put at ease yesterday when PCMR announced the largest resort improvement project in the history of American skiing. We mentioned the possibilities of connecting PCMR with Canyons Resort, which is another Vail-owned property, but no one expected this.

Park City Mountain ResortVail Resorts is spending more than $50 million to combine the two resorts…wait for it…Next year! This project will create the largest ski resort in the United States, with a total of 7,300 acres of skiable terrain.

The plan? The Interconnect Gondola will be built to connect the two resorts. This eight-passenger, high-speed gondola will run from the base of Silverlode Lift at PCMR to Canyons’ Flatiron Lift. This single super gondola will turn Canyons and PCMR into the largest ski resort in the country and allow riders to seamlessly ski between resorts with no more than a nine-minute gondola ride.

Other projects included in the $50 million overhaul are upgrades to existing lifts, a new 500-seat restaurant, improvements and extra seating to current restaurants, additional snowmaking, and other maintenance projects around the mountain.

The most mind-blowing fact released by Vail Resorts and PCMR yesterday is that they expect to complete most of these projects by next season. It goes to show that Vail isn’t wasting anytime when it comes to their resorts.

skiierAlthough some skiers are hesitant about the project, worrying about the actual travel time between resorts and the environmental repercussions of crossing so much land, PCMR and most skiers seem optimistic about the connection and the opportunities it brings for year-round mountain fun.

Now what does all of this mean for timeshares? The answer is simple. The value of the resorts around PCMR and Canyons, whether they are ski resorts or not, will inevitably rise. Being within minutes from the largest ski resort in the country is an undeniable asset, and that’s what every resort in Park City just became.

Lucky for you, Premier Timeshare Resale is based in Park City and knows the ins and outs of Park City timeshares like the back of our hand. We are excited to be the premier timeshare resaler in the area, able to adequately represent all of the amazing resorts that call Park City home.

SkisThere are a number of Park City timeshares worth checking out, but if you’re looking to buy a Park City timeshare, consider Marriott’s MountainSide. This rustic resort sits at the base of PCMR and is the ideal ski-in, ski-out location. Plus, two of the new restaurant projects announced by Vail yesterday are just outside of Marriott’s MountainSide’s doors.

Some other notable Park City timeshares for sale can be found at Westgate Park City Resort & Spa and Marriott’s Summit Watch. We have a number of timeshare deals on all Park City timeshares, making now the time to invest in a timeshare before their value skyrockets.

Give yourself a gift that keeps on giving this winter and buy a Park City timeshare.

Ski Resort Changes Make Park City Timeshares More Valuable

Park City Mountain ResortPark City timeshares are about to boom in popularity. Over the winter and spring we have been following the lawsuit between Vail Resorts and Park City Mountain Resort (PCMR). In May, the court finally ended the dispute on a backdated lease between PCMR and Talisker, ruling in favor of Vail Resorts. Park City residents, tourists and employees alike have been waiting to see what Talisker would do with PCMR. That question was answered last week when Vail Resorts bought PCMR from Powdr Corp. for $182.5 million in cash.

 

With the buyout all aspects of the lawsuit have been settled and the dispute between Vail Resorts and PCMR will no longer pose a threat to disrupting the upcoming ski season, a major concern of employees and fans of the resort.

 

The acquisition includes all of the assets of Greater Park City Company (GPCC), the land used for ski terrain at the resort held by Ian Cumming, and certain base parking lands owned by Powdr Development Corp. These base areas have received zoning approval for approximately 687,000 square feet of residential and commercial development, something we can expect Vail Resorts to break ground on in the next few years. The acquisition does not include the Gorgoza tubing operation, located approximately 10 miles from the resort, which will be retained by Powdr Corp.

 

SkierThe buyout has been well received by the Park City community. Employees are relieved to know there will be no disruption in the 2014-2015 ski season at PCMR and tourists and residents alike are elated to hear the PCMR will join the Epic ski pass lineup.

 

The Epic ski pass comes in two forms. The Epic Pass, which allows holders access to all ski areas owned by Vial Resorts, and the Epic Local Pass, which will give holders access to Canyons and PCMR. Vail Resorts plans to unite the two Park City resorts, but the two will remain separate for this ski season.

 

The acquisition of PCMR by Vail Resorts is exciting for residents and frequenters of Park City. While Canyons and PCMR are world-class resorts on their own, the union of the two will equal over 7,000 acres of skiable terrain, making it the largest ski resort in the United States. This combined with the Epic Pass, which will allow avid skiers access to resorts across the country with one ticket, makes Park City a very desirable location for snow-philes across the globe.

 

Photo Credit: Marriott's Mountainside website

Photo Credit: Marriott’s Mountainside website

Now is the time to invest in a Marriott’s Mountainside timeshare, which is a ski-in, ski-out resort and the base of PCMR. With the acquisition of PCMR by Vail Resorts, this timeshare will only go up in value. Other swank Park City resorts worth investing in are Marriott’s Summit Watch, Sweetwater at Park City Lift Lodge and Westgate Park City Resort and Spa. If you have a Park City timeshare for sale, we need inventory! Contact one of our experienced agents and list your timeshare with Premier Timeshare Resale today!
 

Park City Mountain Resort Loses to Talisker

gavelThe judge finally ruled on PCMR vs Talisker this week—and Talisker won. On Wednesday, the 3rd District judge ruled that PCMR missed the 2011 deadline to renew and Talisker would take back ownership of the 2,800 acres of mountainside that the two were battling for.

Vail Resorts, who took the lead for Talisker in this case and has been a longtime partner with Talisker lands, is ready to take over PCMR’s lease. However, the resolution isn’t that simple.

Since PCMR still owns the base and a few lower lifts, they are refusing to give Vail the rains by stating that their land is “not for sale.” Furthermore, PCMR’s lawyer announced that they will be repealing the case and bringing it in front of a jury.

While many hoped that PCMR and Vail would settle outside of court, an agreement could never be reached, pushing the judge to make this decision. Both sides seem fairly hostile, but particularly John Cummings, Chief Executive of Powdr Corp., which owns PCMR, who has threatened to tear out lifts built on the mountain by PCMR.

aspen-vail-beaver-creek-timeshare-resale

Photo by Ron Hoffman

Regardless of the hostility between PCMR and Vail, both advocate for the betterment and protection of the Park City community and feel confident that the resort will open for the 2014-15 ski season.

Marriott’s MountainSide resort sits right at the base of PCMR, and Canyons Resort, owned and operated by Vail already, also houses many popular Park City resorts. However, the dispute between PCMR and Talisker/Vail should not deter you from visiting or owning a Park City timeshare. Park City knows how important its world-class resorts are to the local community and visitors. Those are the people that everyone is putting first as the companies battle it out over this premier mountain spot.

For more details, check out our source here.

Park City News: Buyout Offer to Settle Lawsuit Between PCMR and Talisker

A lawsuit over the land that houses Park City’s Mountain Resort (PCMR) has been underway for the last few months. The dispute began over a backdated lease for much of the land that the PCMR resort sits on with Talisker Land Holdings, LLC. Vail Resorts has been fighting the land battle with PCMR and, as important court dates approach, Vail Resorts and trying to settle the case outside of court.

 

pcmrvtaliskerThis week, John Cumming, CEO of PCMR parent Powdr Corp, released a letter from Vail Resorts’ CEO Rob Katz, in which Katz offered to buyout PCMR. In the letter, Katz said Vail Resorts would pay “fair market value for any of the assets you have that would be helpful to us in operating the resort,” although an actual price was never identified.

 

Cumming, however, was not appeased by the offer, releasing a statement Tuesday in response to Katz’s letter.

 

“We have repeatedly made it clear to Vail that PCMR is interested in exploring all possible solutions that will preserve the independence of PCMR as the nation’s premier family ski resort. What we won’t agree to is a Vail takeover. Vail’s domination of the ski market in Summit County would be bad for our community, bad for our guests, and bad for our employees.”

 

Although PCMR isn’t going down without a fight, fans of the resort don’t have to worry about the mountain being taken away regardless of the lawsuit’s outcome. Vail Resorts has made it clear that, if they acquire the land, it will stay as a ski resort.

 

The ski community seems to be split as to whom they’d rather win. Some argue that a Vail Resorts takeover would ruin the charm and local atmosphere on PCMR, while others advocate for the change, saying PCMR is rundown and needs a facelift.

 

What do you think? Would PCMR be better run under new management or do you love the resort as it is? Do you have a Marriott’s MountainSide or Westgate Park City timeshare and how do you think this will affect your stay? Will the lawsuit outcome affect where you ski next year or whether you buy a Park City timeshare? Leave your response in the comments.

 

To find out more or read the letter from Vail Resorts click here.

 

 

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