Colorado Politics

Ikon Pass company cuts jobs in Denver and beyond amid several changes

As the ski resort company behind the Ikon Pass and the operator of Steamboat Springs, Arapahoe Basin and Winter Park Resort is going through a phase of changes, the Denver-based company is now cutting jobs.

Alterra Mountain Co. has laid off an undisclosed number of workers in Denver, its resorts and remote employees, a company spokesperson confirmed to The Denver Gazette on Friday. The layoffs were first reported by the Denver Business Journal.

The company has been dealing with several changes this year, as it may be considering moving its headquarters from the River North Art District to downtown Denver — or Utah — and is also looking for a new CEO after its former leader stepped down at the end of the ski season.

“This week Alterra Mountain Company made changes across a number of departments, mostly in corporate services, that impacted some full-time, year-round team members,” spokeswoman Kristin Rust said in a statement.

The changes will also affect open roles and the company has chosen not to fill them, she added.

“As a private company, we will not be releasing further information about employee matters,” the statement said. “These decisions were not made lightly, and it is incredibly difficult to part with even a single member of our talented and passionate team.”

The Denver Business Journal obtained an internal memo from KSL Capital Partners CEO Eric Resnick stating the layoffs were not due to the abnormally slow ski season but slow growth across the industry.

“This is, at its heart, about simplifying how we operate: fewer layers, clearer accountability, faster decisions and more of our energy pointed at the work that matters most to our guests, our destinations and each other,” he said in the internal memo as reported by DBJ. “That means a lower cost base and a more nimble, entrepreneurial company. Both our destinations and shared services are essential to that future.”

Alterra Mountain Co. is potentially looking to move its headquarters and has been awarded millions of dollars from city and state officials to move to downtown Denver, instead of Salt Lake City, Utah.

The Denver Downtown Development Authority offered Alterra Mountain Co. $7 million to move its headquarters to Upper Downtown as part of its Open Denver program, which allows the city to use up to $40 million to help attract companies to the city’s urban core. This is also a part of Mayor Mike Johnston’s wider $100 million investment to spur job growth.

It was among the first winners of this new program to help cover upgrade, relocation and build-out costs if it chooses to move downtown.

Alterra is currently based at 3501 Wazee St.

Colorado Economic Development Commission also awarded nearly $4 million in grants and job creation tax rebates in an unconventional emergency meeting to keep the major ski resort company in state.

The company doesn’t have a CEO after its former CEO Jared Smith announced he would step down at the end of the ski season. The group said its board would create a temporary committee to lead the company with representatives from Alterra’s ownership groups KSL Capital Partners and Henry Crown & Co. until it finds the right candidate.


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