Netflix co-founder investing $100 million into Powder Mountain
The co-founder of Netflix is now the majority owner of Powder Mountain in Eden, Utah.
Billionaire Reed Hastings, who co-founded Netflix in 1997, plans to invest $100 million into Powder Mountain over the coming years.
The resort spans over 8,400 skiable acres, giving it the most skiable acreage in North America.
Hastings told The Salt Lake Tribune Powder Mountain will continue to cap lift tickets at 1,500 per day. Season passes will also continue to be limited at an undisclosed amount. Season passes are currently sold out, and thousands of people are already on the waitlist.
New this winter, the resort will be offering $19 night skiing lift tickets.
As part of Hasting's $100 million investment, Powder Mountain plans to offer guided backcountry tours to 500 acres of some of the resort’s steepest accessible terrain. The area is called DMI, which stands for “Don’t Mention It.”
Other improvements include a new cross country skiing and snowshoeing trail network near the Village lift.
New lifts are set for installation next summer, and major improvements are also planned for the beginner area of the resort.
Hastings’ ownership comes after a failed attempt by young entrepreneurs to turn Powder Mountain into an “urbanist community.”