May 8, 2013

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Summit Purchases Powder Mountain

Press Release

May 8, 2013

Eden — Summit, producer of the leadership conference Summit Series, has purchased Powder Mountain, the largest ski resort in the United States by skiable acreage. “We couldn’t think of a better home for the Summit organization and community than Powder Mountain,” said Elliott Bisnow, founder and CEO of Summit.

At more than 7,000 acres, Powder Mountain is the largest ski mountain in the United States.

The purchase marks a rapid rise for the organization, now in its fifth year. Started in 2008 as a conference series in Alta, Utah for 19 entrepreneurs and non-profit leaders, Summit Series has grown into a community of thousands of multi-disciplinary leaders in the fields of business, non-profits, academia and the arts.

Summit Series’ events have helped to raise tens of millions of dollars for business, social and philanthropic ventures. At 2011’s Summit at Sea, the event generated a partnership with The Nature Conservancy and Bamboo Sushi to raise nearly $1 million to create a 71-square-mile marine reserve in the Bahamas island chain that hosted the event.

“Powder Mountain will continue to welcome ski guests like family, as Summit is committed to maintaining the beloved character of this resort,” said Bisnow.

On the southeast side of the mountain, Summit plans to create a sustainable residential community called Summit Eden, which will become the home base for the organization and its events.

Powder Mountain has been targeted for large-scale development for years. Some groups had plans for up to 10,000 homes, multiple golf courses and more than a dozen new chairlifts. In contrast, Summit Eden will focus on 500 home sites and a small residential village of similar scale, featuring modest homes with eco-friendly and sustainable design. In addition, small cabins will be available as rotating residences for artists, musicians, nonprofit leaders and start-up entrepreneurs. Adjacent to Summit Eden, the group envisions boutique lodging options and retreat facilities over the long term.

“I couldn’t have found a better group to partner with to help preserve Powder Mountain and the surrounding area from overdevelopment,” said Greg Mauro, chairman of Summit Mountain Group and a Powder Mountain skier who first partnered with Summit after attending one of the its signature events.

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