Industry News
Matthew Prince, the billionaire CEO of Cloudflare and a longtime Park City resident, has renewed public interest in buying Park City Mountain from Vail Resorts—even as the Colorado-based company insists the resort is not for sale. Prince, who recently purchased the Town Lift Plaza property on Main Street, told The Park Record that activist investors are “circling around Vail” and could pressure the company to sell off assets if its market valuation continues to lag behind the value of its holdings. He said he has spoken with investors about the possibility and would be ready to act quickly should the opportunity arise.
Vail Resorts, which owns more than 40 ski areas worldwide, dismissed the notion of a sale. Company spokesperson John Kanaly told The Park Record that CEO Rob Katz had made it clear during a June earnings call that Park City Mountain “is not for sale” and remains a critical part of the company’s network.
Prince, who has an estimated net worth of more than $5 billion, has been outspoken about what he sees as flaws in Vail Resorts’ model of centralized ownership. He contrasted it with Alterra Mountain Company’s structure, which allows local ownership of some resorts partnered with the Ikon Pass. Prince argued that the Alterra approach results in a stronger guest experience and better business outcomes.
Vail purchased Park City Mountain in 2014 in a $182.5 million deal following a protracted legal battle with former owner Powdr Corp. Since then, the company has linked the resort with the former Canyons Resort, creating one of the largest ski complexes in the United States. But the relationship between Vail and the Park City community has often been strained, with disputes over crowding, parking, lift infrastructure and, most recently, a two-week strike by ski patrol workers during the 2024 holiday season.
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Prince has leveraged his growing influence in Park City, including his 2023 acquisition of The Park Record newspaper and the May 2025 purchase of the Town Lift Plaza in an effort to argue for more local stewardship. He told KPCW in May that he had already approached Vail with an offer to buy the mountain, though the company declined. “That offer still stands,” he said at the time, adding that he believes local ownership is “inevitable” in the long run.
His criticism has focused in part on aging infrastructure. He has pointed to the Silverlode Express, a high-speed chairlift installed decades ago, as emblematic of what he calls underinvestment. Vail’s attempt to replace the lift in 2022 stalled after the Park City Planning Commission revoked approvals, leaving the upgrade unresolved.
Prince has also floated ambitious ideas for the future, including replacing the Town Lift with a gondola and potentially extending it across the Wasatch to Solitude and Alta, creating a European-style connection between resorts. While such a project would face enormous logistical, environmental and political hurdles, Prince has argued that Park City should think “big” about its role in Utah’s ski industry.
For now, Vail Resorts maintains it will hold on to Park City Mountain. But as activist investors examine the company’s balance sheet, speculation continues about whether a sale could eventually materialize. Prince has indicated he’s ready to move on the opportunity at a moment’s notice.
As between an altruistic billionaire who cares about Park City and skiers, versus a company more focused on profits than skiers, I would choose the former every time. Mr Prince purchasing Park City Mountain would be a gift to the PC skiing community and visitors alike.
Prince’s comments are pure BS with no facts. The media is much to blame, they can’t even get his estimated net worth right 2.5-5.0 billion.
Can we please get some high speed access to dream peak?
Edited –
From the frying pan into the fire – having a billionaire own PCMR would not be positive for skiers. His ownership of the local newspaper puts him more in robber baron league, not some nice local guy. Outdated infrastructure? Nonsensical argument given how much Vail has put into this Resort. Blame the Planning Commission for standing in the way of upgrading the Silverload lift. Resorts on the Ikon Pass offer no better or worse experience than Epoc resorts. It’s tiresome to hear the pile ons about Vail as if everything big is bad. They’ve pioneered in making ski lift tickets affordable. When I don’t want to pay high prices for food (which is typical at every resort) I pack my own.
From the frying pan into the fire – having a billionaire own PCMR would not be positive for skiers. His ownership of the kocal newspaper puts him more in robber baron league, not aome noce local guy. Outdated infrastructure? Nonsense nicely argument given how much Vail has out into this Resort. Blame the Planning commission for standing in the way of upgrading the Silverload lift. Resorts on the Ikon Pass offer no better or worse experience than Epoc resorts. It’s tiresome to hear the pile ons about Vail as if everything big is bad. They’ve pioneered in making skiing affordable.
Be careful what you wish for…