Updated, May 13, 2014 at 4:15 p.m.

The Cumming family, owner of Park City Mountain Resort parent Powdr Corp., has purchased a majority interest in Snowbird Ski and Summer Resort, the Little Cottonwood Canyon resort said on Monday.

The deal is between the Cumming family and the Bass family. Dick Bass was a co-founder of Snowbird in the 1970s and the family has owned the resort outright since the early part of that decade. Powdr Corp., the Cumming family-controlled firm that owns PCMR and other mountain resorts across the U.S., was not involved in the deal.

The deal includes the base facilities like the Cliff Lodge and the Snowbird Center and the approximately 50 percent of the Snowbird terrain not under the ownership of the U.S. Forest Service. Any development rights at the base are included. Terms of the deal were not released.

"I look forward to working with the Bass family and the team at Snowbird in providing world-class experiences on and off the mountain," Ian Cumming, the family patriarch, said in a prepared statement released by Snowbird.

The statement said Cumming was one of the original investors in a property at Snowbird, called the Inn at Snowbird. He also has a home at the resort, the statement said.

"We are very happy to be involved at a place that has so many fond memories for our family," Cumming said in the statement.

The statement, meanwhile, said the deal provides "continuing direction and funding" for projects like a restaurant at the top of the Aerial Tram and a remodel of the Cliff Lodge.


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The Snowbird Center will also be renovated someday.

"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 in the statement.

It indicated the Snowbird management team will remain intact and Bass will retain his role as the chairman of the board.

Bob Bonar, the president and general manager of Snowbird, said in an interview the deal was negotiated over the past two or three months. He said Cumming and Bass had long wanted a partnership.

"Dick is 84 years old and I think that Dick and his family just felt . . . that it was time to transition into a different partnership, relationship. And we're excited. All of us at Snowbird are excited," he said.

Bonar said the agreement allows Snowbird to press ahead with improvements on a quicker timeline than it would have without the partnership. It enables "us to do some really nice improvements here at the resort to better serve out guests," he said.

He said the upgrades include building a new restaurant at the top of the Aerial Tram and a renovation of the Cliff Lodge.

"The Cliff is a beautiful, beautiful hotel, but we want to polish it up a little bit and make it a full four-diamond property," he said.

It is not known whether the Cumming family will craft a relationship between Snowbird and Powdr Corp. resorts, particularly PCMR.