May 13, 2014

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Article

Cumming Family Buys Majority Interest in Snowbird

Press Release

May 13, 2014


Snowbird — The Cumming family has purchased a majority interest in Snowbird Ski and Summer Resort from the Bass family. Ian M. Cumming an original investor in the Inn at Snowbird, will be the majority shareholder. The partnership will not involve Powdr Corp, which the Cumming family owns.

The partnership will provide direction and funding for major capital improvement projects, including a new restaurant and skier services building atop the Aerial Tram, a remodel initiative for the Cliff Lodge, and the future renovation of the Snowbird Center.

“I look forward to working with the Bass family and the team at Snowbird in providing world-class experiences on and off the mountain,” said Ian M. Cumming.  Cumming owns a home at Snowbird and his family has a long history of skiing at Snowbird. 

Snowbird’s current management team, led by Bob Bonar, Tom Jones and Jerry Giles, will remain in place. Dick Bass, founder of the resort, will remain as chairman of the board.

“This partnership will enable Snowbird to achieve more rapid growth and even greater benefits for our guests in keeping with our founding perspective and philosophy of providing a year-round destination mountain resort for the enhancement of body, mind, and spirit, with our ever present emphasis on environmental protection and sensitivity,” Bass said.

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