Saying the acquisition “brings together two family-owned companies,” US company POWDR announced on Tuesday that it has purchased SilverStar Mountain Resort, located in BC’s Okanagan region, near the city of Vernon.
In its first Canadian acquisition, POWDR has purchased SilverStar from Jane Cann, who has owned the resort since 2002 and served as president since she acquired 100% of SilverStar in 2012.
POWDR is acquiring SilverStar Ski Resort LTD. and SilverStar Holidays LTD. – which operate SilverStar Mountain Resort – from Cann, who will retain Schumann Resorts LTD., which holds 30-acres of SilverStar real estate development land.
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“SilverStar is a world-class destination that fits well with who POWDR is…and our commitment to protecting and enhancing the authentic year-round adventure experience for generations to come,” said POWDR co-president Justin Sibley. “The resort team is impressive and they have an incredibly strong relationship with the community, which we hope to build upon.”
There will be no changes to SilverStar 2019/20 season passes, current operations, or reciprocal agreements with other resorts, as a result of the purchase.
“I am thrilled to pass the torch to such a competent and qualified operator as POWDR, who shares the same mission and beliefs for the SilverStar resort community and is committed to delivering memorable experiences and enhancing people’s lives,” said Cann. “I am confident that their scale and expertise will be beneficial in working toward the realization of SilverStar’s newly approved Master Plan.”
SilverStar is one of BC’s largest ski areas offering 3,282 acres of skiable terrain, a 2493-ft vertical drop, and annual snowfall of more than 23 ft.
The purchase brings POWDR’s total portfolio of ski resort properties to 10, including locations in California, Colorado, Nevada, Oregon, Utah, and Vermont.