Cloudflare founder Matthew Prince is publicly urging Vail Resorts to sell Park City Mountain Resort, proposing a shift to an asset-light franchise model to address the company's struggling stock price.
Prince's proposal for Vail Resorts
In a June 5 report by The Colorado Sun, Prince, who grew up working as a ski instructor at the resort, stated that he believes the current management team is a "bad capital allocator." Prince argued that Vail Resorts should sell underlying properties and instead negotiate a franchise model for its Epic Pass.
Investment plans for Park City
Prince expressed readiness to invest $500 million into the Park City area, focusing on snowmaking, lift upgrades, and employee profit-sharing. He noted that his plan would avoid the exclusive atmosphere of nearby Wasatch Peaks Ranch or the hybrid public-private model used at Powder Mountain, aiming instead for a resort open to both locals and visitors.
Concerns over company valuation
The billionaire's push comes amid concerns regarding the company's financial stability. Prince noted that Vail Resorts' market capitalization is currently less than the combined value of its 42 ski areas across the U.S., Canada, Austria, and Australia.
Risks of activist investors
While Prince is not seeking to take over Vail Resorts itself, he warned that activist investors could potentially seize the company and sell off major assets like Whistler-Blackcomb or Breckenridge to pay for the takeover.
Southern Utah art exhibitions
In southern Utah, the Southern Utah Art Guild is hosting several exhibitions throughout June. The Red Cliff Gallery in St. George is presenting "Explosion of Color," an exhibit featuring more than 190 pieces by 83 artists, including featured artist Jack L. Burns, through June 18.
Additionally, the Arrowhead Gallery has named Patricia Knott as its June spotlight artist, showcasing her textile works.
New indoor golf simulator
In Hildale, a new indoor golf simulator studio called The Birdie Box has been operating since its April 8 opening. Founded by entrepreneur Avery Hammon, the facility provides high-fidelity technology that tracks swing speed, ball trajectory, and spin.
The studio offers weekday discounts of $30 per hour before 5:00 p.m., Monday through Thursday, while standard rates are $40 per hour during evenings and weekends.
Other recent local updates include news and awards announcements from the City of Provo, though specific details were not provided in the June 10 release.
