Judge sides with Talisker and Vail in PCMR lease lawsuit
Judge Rules for Vail and Talisker in today's critical rulings.
Seems like it's just a matter of time for Vail to take over operation of
Park City Mountain Resort.
Judge Ryan Harris reaffirmed an earlier ruling that PCMR's lease of much of the terrain underlying the resort expired in 2011. He also ruled that PCMR was not denied a right of first refusal when Talisker Land Holdings, LLC reached an agreement with Vail Resorts to operate Canyons Resort. The deal could be expanded to include the disputed terrain at PCMR depending on the outcome of the case.
Park City Mountain CEO John Cumming prepared a statment:
"We respect the Court's decision but at the end of the day it doesn't change the fact that Vail and PCMR can and must resolve this dispute. For that to happen, both parties will need to sit down at the table, negotiate in good faith, and come to a rational agreement. We are committed to doing exactly that, which is why we have made repeated offers to buy or lease the disputed property for an amount far in excess of market value. But let me be clear: we will not walk away and allow a Vail takeover," Cumming said, in part.
Click this link to read the entire Park Record article:
Investors are starting to see the writing on the wall and starting to grab up properties at both Park City Mountain and Canyons Resort.
Call me for more information about snapping up a property here in Park City while it's still affordable!