Powdr Corp. sells California's Alpine Meadows

Powdr Corporation, the Park City, Utah, firm that owns Alpine Meadows Ski Area, has sold the California ski and snowboard resort to JMA Ventures LLC, owners of nearby Homewood Mountain Resort.
ALPINE MEADOWS SKI AREA has been sold by Park City-based Powdr Corporation to JMA Ventures LLC, owners of nearby Homewood Mountain Resort.
    Terms of the sale were not disclosed.
    Jody Churich, director of sales and marketing for Powdr's California holdings Alpine Meadows, Boreal and Soda Springs, refused to offer the company's reason for divesting itself of Alpine Meadows just after the firm entered into an agreement with SP Land Company to acquire Vermont's Killington and Pico ski resorts from American Skiing. "I just can't go into those types of details," Churich said.
    Powdr Corporation, privately held by the Cumming family, has owned Alpine Meadows since 1994. Its other holdings include Park City Mountain Resort in Utah and Mt. Bachelor in Oregon.
    Churich expects the transaction to have little impact on guests of the Lake Tahoe-area ski resort.
    "The current ski season will go through the end of April, with a closing [of the sale] not expected until sometime in June," Churich explained. She did not wish to comment on the effect that the ski area's sale will have on its 700 full- and part-time employees.
    Officials at JMA Ventures did not return calls seeking information. The company is a San Francisco-based real estate investment and development firm that owns that city's Ghiradelli Square shopping district in addition to Homewood Mountain Resort, a 1,260-acre ski area on the west shore of Lake Tahoe it acquired in 2006. The company has since invested heavily in the Tahoe-area travel industry, purchasing the Tahoe Inn and planning an upscale hotel and restaurant along the Truckee River.