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Park City Mountain Resort to pay bond, guaranteeing resort will be open for 2014/15 season

Bond payment to ensure PCMR will have ski season while negotiations for long-term resolution continue.

PARK CITY, UTAH – Park City Mountain Resort (PCMR) announced that it will pay the $17.5 million bond amount ordered by the Court to ensure the resort will open as planned this season, scheduled for November 22, 2014.

“Our goal has always been to keep PCMR open for the upcoming 2014/15 season and beyond,” said Jenni Smith, President and General Manager of PCMR. “Paying the bond ordered by the judge will provide our employees, the Park City community and our many guests the certainty they’ve been waiting for about our upcoming ski season.”

Under Powdr’s 20+ years of ownership, PCMR has grown into a world class resort that continuously ranks among the top five resorts in North America. Powdr has built strong community ties and been a part of Park City’s continued rise as one of the best towns in the country.

“I am very happy that the resort will be open this year,” Smith continued. “While the most important outcome today is that PCMR will be open for business, the bond payment is only a short term solution for the 2014/15 season. As such, we will continue working with Vail toward a reasonable and fair long-term solution.”

Powdr is one of the largest, privately owned and operated, lifestyle and mountain sports companies in North America with a portfolio of nine mountain resorts, four Woodward facilities and Outside Television.

Vicky Karantzavelou
Co-Founder & Chief Editor - TravelDailyNews Media Network | Website

Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.

She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.

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