Hastings ups his investment, becomes majority owner of Powder Mountain

Netflix co-founder and CEO Reed Hastings has become the majority owner of Powder Mountain Ski Resort. In April, Hastings acquired acquired a minority stake in the ski area and has now added a $100 million investment to become the leading owner of the resort. Hastings acquired a minority stake in the ski area in April.

The new investment will develop the qualities that make Powder Mountain special, with a focus on bolstering infrastructure and amenities to make the mountain more accessible without compromising its “uncrowded feel,” according to Hastings. The resort caps daily ticket and season pass sales to assure there will not be overcrowding.

“This is an investment in what we consider to be the ultimate skier experience,” said Hastings. “My wife, Patty, and I love this place; we love the untracked powder several days after a storm cycle, we love the vastness of the terrain, and we love the community.”

The investment will fund a multi-year redevelopment. The plan includes several improvements slated for winter 2023-24, including beginner experience upgrades to the terrain and infrastructure around Sundown Lodge, including replacing the Tiger Tow with a Sunkid carpet, regrading learning terrain, adding snowmaking (the first at the resort) and replacing the ski school facility with a temporary structure that will also house rentals and retail. A new activity hub will be added near the top of the Village chair, dubbed the Launch Pad Yurt, which will provide access to a variety of winter activities, including new cross-country and snowshoeing trails, new MoonBike tours, snowmobile tours and other attractions.

Powder Mountain will add 500 acres of new, advanced side-country terrain called Don’t Mention It, which will be accessible with a guide only and serviced by a shuttle.

The resort will also begin selling $19 night skiing lift tickets that are available to everyone, every night.

“We are excited to provide a greatly enhanced beginner experience for newcomers to skiing and riding,” said General Manager Kevin Mitchell. “This, combined with our new Nordic and snowshoe trails for non-skiers and newly added guided expert terrain, truly provides a progression of uncrowded experience for everyone at Powder Mountain.”

Mitchell also said that Powder Mountain intends to add new lifts beginning next summer.

Open since 1972, Powder Mountain currently has 8,400 skiable acres with an annual snowfall of more than 500 inches.