Reed Hastings invests $300 million in Utah ski resort expansion
Netflix co-founder Reed Hastings has invested $300 million into the expansion of Utah's Powder Mountain ski resort. The project aims to revitalize the resort by combining public skiing access with an exclusive private residential community.
Why it matters
The investment highlights a trend of high-net-worth individuals acquiring and reshaping recreational infrastructure to blend luxury real estate with public amenities.
What happens when a Netflix co-founder turns his attention from streaming to skiing? For Reed Hastings, it has meant taking control of one of Utah's largest ski areas and attempting to reshape how a mountain resort operates. Hastings became the controlling owner of Powder Mountain in 2023 after investing $100 million, and his plans have since gone well beyond a conventional ski-resort upgrade. The project combines public skiing with an exclusive private community, new lifts, luxury amenities and a major residential expansion, with major new investments now expanding both its public and private skiing operations.According to Mansion Global, Hastings paid $100 million in 2023 to acquire a controlling share of the Powder Mountain project from its previous owners, Summit Series.
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