SAM JANUARY 2026

VISIT OUR OWNERSHIP TIMELINE ONLINE TO EXPLORE NEARLY 40 YEARS OF SKI AREA TRANSACTIONS. →

has taken him around the world, often to big mountains. Investment and technology. His approach, like that of the other revival- ists, includes investment and technol- ogy. For his inaugural 2024-25 season, McNulty cut season pass prices and more than tripled the open terrain, deploying 45 new stick guns (more snowmaking and automation are on the way for this winter). He shredded the old paper lift ticket system in a painful but necessary mid-season conversion to SnowCloud resort management software. McNulty’s efforts were applauded, and he quickly became known as the SoCal savior. McNulty, who grew up in Santa Mon- ica, Calif., skiing (then snowboarding) 50 days a year, arrived with plenty of cash. He helped found Shopping.com, which sold for $220 million, and then Shopit. com, which became the largest e-com- merce app on Facebook. He doesn’t con- sider his $1.06 million purchase of KB to be pocket change, though, partly because he’ll need a lot more capital to make things work. McNulty is socially conscious with a philanthropic bent, but he’s not in this to lose money. He wants KB to be successful and sustainable. The value of connection. Why is he here? McNulty doesn’t have a simple answer. If he did… it would be the Buffalo Bills, or more specifically their dedicated

something is in the air that gives salve to those who feel that conglomeration has gone too far, or at least far enough. The benefits of pre-commitment ush- ered in by the Epic and Ikon passes led to the most successful transformation in modern skiing, a true renaissance. Vail Resorts and Alterra continue to domi- nate the ski resort business. Independently healthy. But public opinion is strongly on the indy side. In an ironic yet understandable twist, the dominant ascent of corporate skiing has unleashed a growing appreciation for the independents, a groundswell seen among customers, communities, and high-net-worth individuals. You can’t just be fiercely indepen- dent, though: These ski areas also must be smart, tough, and nimble, often against great odds, and find the money to continuously reinvest. As Vail Resorts and Alterra go, so goes the ski area business. But new skiers aren’t going direct to Vail’s Back Bowls, or to sample the six new chairlifts installed over the summer at Alterra’s Deer Valley. They need to start at Eldora or Black or Kissing Bridge. A $350 window lift ticket does not recruit diverse new guests. Creating new skiers is tedious work—and so is build- ing the communities that are the back- bone of the sport. They don’t show up quickly on the balance sheet. Someone has to invent new owner- ship models for the Black Mountains of the world, and field the Kissing Bridge job application from the Buffalo dump- truck driver. That is what small- and medium-sized ski areas do best, and their improving fate will determine the future health of the sport, business, and overall industry. Andy Bigford is the former editor-in-chief of SKI and has chronicled the resort business since 1982. He collaborated on and edited the two “Ski Inc.” books written by Chris Dia- mond, who died in 2023. At Diamond’s urg- ing, he is working on a third book covering the resort business… maybe Ski Inc. 2030? He can be reached at andybigford@gmail.com.

hyper-local fan base. It’s that local con- nection McNulty sought and is seeking to rebuild at KB with both its guests and staff. During a Zoom call from his office, for example, he fields questions from a walk-in visitor, a Buffalo-area dump truck driver looking for seasonal winter work. He eventually funnels the driver into the hiring process. KB has increased its winter staff from 200 at acquisition to 300 this winter. McNulty has zeroed in on rebuilding KB’s customer base. At the extremes, he’s got the loyalists who will never leave, and then the ones who have gone away and will never come back. In between are the frustrated customers who need to be won back with a better experience. He wants to develop KB as a four-season resort, with an emphasis on wellness. Will he finish the challenge and then hire someone to keep it on track, or per- haps create a new ownership model that values local input? Right now, there is only one regret: That he didn’t produce a reality show covering his first season at Kissing Bridge. Welcome to the small ski area world, Rhett. WHAT IT ALL MEANS There is not enough evidence on “new ownership models” to signify a trend, yet

After a career in tech, Kissing Bridge, N.Y., owner Rhett McNulty has embraced his new venture.

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