After looking into the mountain's finances, “it became clear that we needed to do something important,” he said.
After all, that something was taking advantage of the mountain's available real estate. “We decided we needed to attract people here by offering a private experience they couldn’t get anywhere else,” he said.
If his plan works, Harris Sondak, former mayor of Alta, Utah, and professor at the University of Utah's David Eccles School of Business, expects more ski resorts to open to public and private businesses to increase revenue. He said there is a possibility of adopting the model. “Operating a ski resort costs a lot of money, so new ways to make money are often embraced,” he said.
In addition to privatizing parts of the mountain, Hastings will increase the price of season passes from $1,259 to $1,399. Season passes for seniors 75 and older, previously free, will now cost $1,049. There was a cap on the number of season passes that could be sold, but there will no longer be a limit on the number of tickets sold, but there will be a limit on the number of same-day tickets.
Many in the ski community, especially local residents, were upset by the change. “I'm very concerned,” said Aaron Bexler, 48, who has owned a Powder Mountain condominium since 2012. “They're severely restricting the terrain, raising prices, and selling more passes. How can they sell more passes and prevent overcrowding at ski resorts?” Some people, sensing a lack of interest, nicknamed the new owner “Greed” Hastings.