Those in this quaint ski town can breathe a collective sigh of relief – 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 upcoming 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. By posting the bond, PCMR has until April 30, 2015, to appeal the lower court ruling that PCMR had failed to renew its lease on more than 2,000 acres it was leasing from Talisker. In June 2013, Talisker entered into an agreement with Vail Resorts to operate both Canyons and PCMR’s upper terrain.
But this is not a long term solution, and given the eviction order ruling, it will be the last year PCMR will operate the ski area. The only option beyond this season would be to reach an agreement with Vail Resorts for operating the area that would avoid dividing the PCMR-owned base facilities from the upper mountain.