Billionaire Demands Vail Resorts Sell Park City

Billionaire Matthew Prince is publicly calling for Vail Resorts to sell him Park City Mountain Resort, a property he grew up near and previously worked at. Prince, who is now Utah's wealthiest individual, points to Vail Resorts' struggling stock price, which has seen minimal growth since 2016, as evidence of poor management. He criticizes the company's capital allocation, stating that the market capitalization of Vail Resorts is less than the combined value of its 42 ski areas across multiple continents.

Prince suggests Vail Resorts should adopt an 'asset-light' franchise model, where it would continue to manage its Epic Pass program but cease owning the resorts. He argues this would be a more beneficial approach for shareholders and for the resorts themselves. Prince has offered to invest $500 million in Park City Mountain Resort, focusing on snowmaking, lift upgrades, and employee profit sharing, aiming to make it a world-class destination open to all.

Despite Prince's persistent efforts and growing conviction that a sale is imminent, Vail Resorts CEO Rob Katz has stated the company has no intention of selling Park City Mountain Resort or any other properties. Katz believes that the scale and efficiency of operating a large, countrywide network of resorts offer greater economic stability, especially in the face of climate change. He views Prince's franchise model suggestion as similar to 'McDonald's,' which he claims is not Vail Resorts' operational strategy.