PCMR will open this winter
September 9, 2014
Park City Mountain Resort has announced that it will post the $17.5-million bond required to continue operating on its upper terrain for the coming ski season.
The bond stays a court-ordered eviction that would have turned most of the resort’s terrain over to Talisker Land Holdings, LLC
Third District Court Judge Ryan Harris previously ruled thatPCMR had failed to renew its lease on more than 2,000 acres it was leasing from Talisker but stayed that eviction and ordered the parties into mediation in hopes of a long-term solution that would avoid dividing the PCMR-owned base facilities from the upper mountain.
However, in June 2013, Talisker entered into an agreement with Vail Resorts to operate both Canyons and PCMR’s upper terrain.
Posting the bond allows PCMR to operate through April 30, 2015 while it appeals the judge’s eviction.
According to PCMR president Jenni Smith, "Our goal has always been to keep PCMR open for the upcoming 2014/15 season and beyond. 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.
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"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," Smith added.
On hearing that PCMR would open for the season, Park City Council member Liza Simpson said, "I am thrilled and even more encouraged that the parties are continuing to work toward a long-term solution."