Breaking News
More () »

Tamarack Resort gets new owner, vows to complete Village Plaza

A partnership going by the name Tamarack Resort Holdings plans close the deal by the end of the month. Work could begin on the Village Plaza in early 2019.

DONNELLY, Idaho — Tamarack Resort has a new owner.

The announcement was made today after the Idaho Land Board approved transferring the state lands lease to the new owner, Tamarack Resort Holdings (TRH), for continued operations on the mountain.

According to a news release, TRH is a partnership of investors and managers with decades of development and operations experience at premier resort properties across North America. A purchase price has not been disclosed.

TRH has entered into an agreement to purchase all Tamarack Resort operations and key assets in Donnelly, Idaho. That includes operating the resort now, future expansion plans and investing immediately to complete Village Plaza.

"We have been evaluating and working on this agreement for nearly two years to truly understand the history and complexities of the resort. The partnership strongly believes Tamarack has a tremendous opportunity to thrive as a four-season destination of choice for Idahoans and visitors from across North America," said TRH President Jon Reveal. "Our team looks forward to proving our commitment to Tamarack, Valley County residents, Idahoans and all our guests through investment, completion of unfinished projects and improved resort amenities and offerings."

Key assets include property on mountain, ski lifts and operations equipment, lodge amenities, lodging operations, the telecommunications utility, declarant rights, lakefront equipment, sewer and water bonds, a portion of the golf course and the unfinished Village Plaza.

TRH will also be purchasing other private real estate and parcels and is taking over the lease to operate The Arling Center event venue. The transactions will close Nov. 30, 2018.

After the closing, the focus will be on preparing Tamarack for a full-mountain opening for the upcoming ski season. If conditions permit, opening day is projected for Dec. 14 or earlier.

The development team is currently seeking bids from contractors to complete construction of the Village Plaza, with a goal to begin in early 2019 and be ready for the 2019-2020 winter season. The completed Village Plaza will include retail, restaurant, lodging and resort operations.

All current staff will remain employed by the resort, including General Manager Brad Larsen and Tamarack Municipal Association Community Manager Levi Johnson.

Visitors to Tamarack Resort this winter will not experience any noticeable changes.

All previously scheduled events, weddings, conferences and competitions will be honored and will proceed as scheduled.