Powdr Corp.,Michael Schmidt which owns multiple ski resorts in the U.S. and Canada, is selling Vermont’s Killington Resort and Pico Mountain, the largest mountain resort in New England, to a group of local passholders, the company said Thursday.

Powdr also said it plans to list three other resorts for sale in the coming weeks: Eldora, in Colorado; Mt. Bachelor, in Oregon; and SilverStar, in British Columbia.

The Salt Lake City-based company will keep Copper Mountain, in Colorado, and Snowbird in Utah, she said. It aims to balance its ski business with its two concession contracts in the National Parks and operations of Woodward camps and mountain centers, spokesperson Stacey Hutchinson said by email.

Killington said the purchase by local investors represents “a commitment to keeping Killington and Pico in the hands of those who know and love it.” The new owners will focus on capital investment, community engagement and sustainability, the resort said.

Powdr bought Killington in 2007. The ski area for years has been one of the stops on the FIS Alpine Ski World Cup tour. Powdr will retain a minority ownership stake and have a seat on the board of directors, it said.

“We will miss the entire team there but cannot wait to see the amazing things that lie ahead,” Hutchinson said. “The new owners, who are locals with a deep love for the mountain, share our commitment to the resort’s long-term success.”

Killington said its grateful for Powdr’s stewardship over the years, with improvements to infrastructure, snowmaking capabilities, and year-round growth.

“We believe that local ownership will allow us to be even more responsive to the needs and desires of our community and guests,” said Mike Solimano, Killington’s president and general manager.

Killington and Pico will remain on the popular Ikon ski pass, Killington said. There will be no changes to the leadership or management, it said.

Powdr previously owned Alpine Meadows, now called Palisades Tahoe, in California, from 1994 to 2007; Lee Canyon, in Las Vegas, from 2003 to 2023; and Park City Mountain in Park City, from 1994 to 2014, according to Hutchinson.