Welcome to Grand Targhee Ski Resort, the breathtaking winter wonderland located in Wyoming. Grand Targhee has been captivating visitors from all around the world for over half a century, boasting world-class skiing and snowboarding terrain, unparalleled natural beauty, and a lively mountain culture. However, one question has been on the mind of many visitors and locals alike: who owns Grand Targhee Ski Resort?
The answer to this question has been shrouded in mystery for quite some time, with many rumors and speculations circulating among the community. In this article, we will unveil the truth about the ownership of Grand Targhee Ski Resort, exploring the current and previous owners, the fascinating history of the resort’s ownership changes, and the impact of these changes on the resort’s development.
So buckle up and get ready to dive into the captivating world of Grand Targhee Ski Resort, as we uncover the secrets behind the resort’s ownership. Whether you’re a seasoned visitor or a first-time skier, this article will provide you with a unique perspective and insight into the heart of the resort. Let’s get started!
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Discover the Current Owners of Grand Targhee Ski Resort
As one of the top ski resorts in the United States, Grand Targhee is a beloved winter destination for thousands of visitors every year. But have you ever wondered who actually owns the resort? The answer might surprise you. The current owners of Grand Targhee Ski Resort are Geordie Gillett, Ken Rider, and Dave Rathbun.
Gillett, Rider, and Rathbun are all experienced ski resort owners and operators, with a combined 100+ years of experience in the industry. They purchased Grand Targhee Ski Resort in 2018, and have since worked tirelessly to improve the resort’s amenities, services, and overall guest experience.
So, who are these owners, and what inspired them to purchase Grand Targhee Ski Resort? What changes have they made to the resort since taking ownership, and what’s in store for the future? Keep reading to find out.
Get to Know the Holding Company of Grand Targhee Ski Resort
If you’re curious about who owns Grand Targhee Ski Resort, you may be surprised to find out that it’s owned by the mountain resort management company, Mountain Capital Partners. This company is dedicated to creating and managing a collection of mountain resorts that offer world-class skiing and snowboarding experiences.
| Resort Name | Location | Ownership |
|---|---|---|
| Grand Targhee Ski Resort | Wyoming, USA | Mountain Capital Partners |
| Sipapu Ski & Summer Resort | New Mexico, USA | Mountain Capital Partners |
| Purgatory Resort | Colorado, USA | Mountain Capital Partners |
| Arizona Snowbowl | Arizona, USA | Mountain Capital Partners |
| Pajarito Mountain Ski Area | New Mexico, USA | Mountain Capital Partners |
Mountain Capital Partners’ mission is to provide guests with an exceptional mountain experience while preserving the unique character of each resort. They believe that by investing in each resort and prioritizing the guest experience, they can create a successful and sustainable business model.
The Fascinating History of Grand Targhee Ski Resort Ownership
Grand Targhee’s history of ownership is as interesting as it is diverse. The resort has had several owners and partners since its establishment, each contributing to the development of the ski area.
Initially, the resort was co-owned by four families who invested $1.5 million to build the ski area. In 1998, the owners sold their shares to Booth Creek Ski Holdings, a subsidiary of the New York-based entertainment company, Universal Studios.
During Booth Creek Ski Holdings’ ownership, Grand Targhee saw significant investments and improvements, including the addition of several ski lifts and a new terrain park. In 2006, Booth Creek sold the resort to its current owners, the Geordie Gillett and the Gillett family.
Grand Targhee Ski Resort has had a long and varied history of ownership, with its current public ownership being the most recent chapter in its story. So how did this happen?
It all started in the 1960s when a group of investors formed the Grand Targhee Development Corporation and began developing the area as a ski resort. Ownership changed hands several times over the years, with the resort eventually falling into bankruptcy in the early 1990s. But that wasn’t the end of the story.
In 1996, the Grand Targhee Resort Association was formed as a non-profit organization with the goal of preserving the resort and keeping it open to the public. Through a unique partnership with the Caribou-Targhee National Forest, the association was able to acquire the resort and turn it into the public-owned ski resort that it is today. But the journey to get there was anything but simple.
Inside Scoop: What Happened to the Previous Owners of Grand Targhee Ski Resort?
Bankruptcy: In 1996, Grand Targhee Ski Resort filed for bankruptcy after struggling with financial issues. It was then purchased by a group of investors who formed a new company to operate the resort.
Sale to Booth Creek: In 1998, Booth Creek Ski Holdings acquired the resort from the investors who purchased it after bankruptcy. Booth Creek invested in upgrading the resort’s facilities and operations, but later faced financial difficulties of its own.
Acquisition by IntraWest: In 2000, Booth Creek sold Grand Targhee Ski Resort to IntraWest, a Canadian resort development company. IntraWest invested millions of dollars in improvements to the resort, including new lifts and lodging facilities.
Private Equity Takeover: In 2008, a private equity firm called Cerberus Capital Management acquired Intrawest, and with it, Grand Targhee Ski Resort. The resort remained under Cerberus ownership until 2017.
Current Ownership: In 2017, the resort was acquired by Skyline, a Utah-based real estate investment firm. Today, Skyline continues to operate Grand Targhee Ski Resort and has plans for further development and expansion.
The Untold Story of the Previous Owners of Grand Targhee Ski Resort
While the current ownership of Grand Targhee Ski Resort may be well known, the previous owners have a more mysterious past. Bankruptcy was a significant factor in the resort’s ownership changes over the years. One of the previous owners, Booth Creek Ski Holdings, faced financial troubles in the early 2000s, which eventually led to the resort’s sale to the public.
Environmental concerns also played a role in the resort’s change of hands. The previous owners struggled to navigate local environmental regulations, including water usage and land management. These issues led to costly legal battles and ultimately impacted the resort’s financial stability.
Another reason for the previous ownership changes was the challenging winter conditions in the area. The resort’s location in the Teton Mountains made it susceptible to harsh weather, including heavy snowfalls and strong winds, which impacted the resort’s ability to operate effectively.
Why the Previous Owners Decided to Sell Grand Targhee Ski Resort
Financial Challenges: The previous owners of Grand Targhee Ski Resort faced financial challenges that led to the decision to sell the resort. Despite significant investments, the resort struggled to compete with other ski destinations and maintain profitability.
Lack of Resources: The previous owners also faced resource limitations, making it difficult to keep up with maintenance and improvements needed to remain competitive in the industry. The ski resort required a significant amount of investment to keep it running and attract visitors.
Changing Priorities: Additionally, the previous owners of Grand Targhee Ski Resort had different priorities and interests outside of the ski industry. They were ready to move on and explore other opportunities, which led to the decision to sell the resort.
Despite the challenges, Grand Targhee Ski Resort remains a popular destination for skiers and snowboarders from around the world. The resort has continued to thrive under new ownership, providing visitors with a top-notch skiing experience.
Exploring the Impact of Ownership Changes on Grand Targhee Ski Resort’s Development
Ownership changes can have a significant impact on a ski resort’s development. Grand Targhee Ski Resort has undergone multiple ownership changes over the years, each bringing its own set of changes and challenges. Some owners have invested heavily in the resort’s infrastructure, while others have struggled to keep up with maintenance and upgrades.
The resort’s development has also been affected by market trends and changes in the ski industry. For example, the rise of destination skiing and the increasing popularity of snowboarding have both had an impact on Grand Targhee’s growth and marketing strategies.
Despite these challenges, Grand Targhee Ski Resort has continued to attract visitors and maintain its reputation as a world-class skiing destination. The resort’s stunning natural beauty, varied terrain, and commitment to sustainability have helped it remain a popular choice among skiers and snowboarders from around the world.
The Effect of Changes in Ownership on Grand Targhee Ski Resort’s Growth
Changes in ownership have had a significant effect on the growth of Grand Targhee Ski Resort. The resort has experienced periods of rapid expansion and periods of stagnation, depending on who was at the helm.
During periods of stable ownership, the resort has been able to invest in new infrastructure, expand terrain, and improve guest experiences. However, during periods of uncertainty or transition, investment and growth have often slowed.
Despite these challenges, the resort has managed to maintain a loyal following of skiers and snowboarders, who appreciate the unique terrain, family-friendly atmosphere, and stunning views that Grand Targhee has to offer.
What’s in Store for the Future of Grand Targhee Ski Resort?
Expansion: Grand Targhee Ski Resort has been considering expanding its terrain, lifts, and facilities. However, the expansion plan is still in its early stages and will require significant investment.
Sustainability: The resort management is committed to reducing its environmental impact by using renewable energy sources and implementing sustainable practices. They have set a target to become a carbon-neutral resort by 2030.
Innovation: The resort is continuously seeking ways to enhance its guest experience through technology and innovation. For example, they have implemented an online reservation system, mobile apps, and other digital platforms to streamline their services.
The Future Plans and Developments for Grand Targhee Ski Resort
Expansion: Grand Targhee Ski Resort has plans to expand their terrain and lift capacity. This includes adding additional chairlifts and expanding into the neighboring Peaked Mountain area, which will offer skiers and snowboarders an additional 600 acres of terrain to explore.
Sustainability: The resort is committed to sustainable practices and is investing in renewable energy sources such as solar power. They have also implemented a number of initiatives to reduce waste and promote environmentally friendly practices, such as a composting program and a program to reduce single-use plastics.
New Amenities: The resort plans to invest in new amenities, including a new on-mountain restaurant and an expansion of their base area facilities. They also plan to build a new mountain bike trail network to attract visitors in the summer months.
Frequently Asked Questions
What is the history of ownership at Grand Targhee Ski Resort?
Grand Targhee Ski Resort has had multiple owners since its establishment in 1966, with the first owner being Bud Johnson. The resort was later sold to several other individuals before being bought by the Kemmerer family in the late 1990s.
How did the Kemmerer family acquire Grand Targhee Ski Resort?
The Kemmerer family, known for their involvement in the coal industry, purchased Grand Targhee Ski Resort in 1998 from a group of investors. The family’s investment company, Western Wyoming Beverages, Inc., owns the resort.
Are there any plans for the Kemmerer family to sell Grand Targhee Ski Resort?
As of 2023, there have been no reports of the Kemmerer family planning to sell Grand Targhee Ski Resort. In fact, the family has continued to invest in the resort’s infrastructure and amenities.
Does the Kemmerer family have any other investments in the ski industry?
While the Kemmerer family is primarily known for their involvement in the coal industry, they also own other businesses in a variety of industries, including the ski industry. In addition to Grand Targhee Ski Resort, the family also owns nearby Teton Springs Lodge and Spa, which offers skiing and snowboarding in the winter months.
What is the current state of Grand Targhee Ski Resort under the Kemmerer family’s ownership?
Under the Kemmerer family’s ownership, Grand Targhee Ski Resort has continued to grow and develop, with investments in new lifts, terrain, and amenities. The resort offers a variety of terrain for skiers and snowboarders of all levels and has received praise for its family-friendly atmosphere and commitment to sustainability.