DENVER — Powderhorn CEO and President Steve Bailey has decided to retire after thirteen seasons after buying the ski area with Dean Skalla in 1998. The 1,600-acre resort will be going up for auction on August 4, 2011 with no minimum bid. Anyone want to go halfsies? It’s your chance to buy a resort, let’s go!
Bailey a former Air Force pilot who is now 70 years old, says the resort is highly lucrative but it’s just time for him to retire. Skalla is also choosing to leave the industry as well. Powderhorn, in Mesa, gets around 75,000 to 85,000 skier visits each year and they have made many improvements over the past thirteen years.
“We looked in the mirror awhile back and said, ‘You’re getting kind of old,’” Bailey said. Bailey would be able to stay-on until the resort is official switched in ownership. After that, he and his wife of 46 years, will be living the new good life and traveling the country.
Bailey would not disclose how much he and Skalla purchased the resort for in 1998, but records for the resort’s address listed a sales price in 1995 of $1.1 million, according to the Mesa County assessor’s office.
Bidders will be able to buy the whole resort which includes: four ski lifts, a lodge, 16-room inn, mountain operations building, equipment maintenance facility, dry storage building and an administrative building, or they can even buy pieces. J.P. King Auction Co. is handling the auction. I say you go for the whole thing.
Even though travel is in Bailey’s future, he has no intention of moving from Colorado. “If heaven’s no better than Colorado I’m not going,” he joked.