PACIFIC GROUP RESORTS ACQUIRES BRITISH COLUMBIA’S
SILVERSTAR MOUNTAIN RESORT

Award-Winning Resort Adds to PGR’s Canadian Footprint and North American Reach

SilverStar, British Columbia – November 25, 2025 – Pacific Group Resorts (PGR) announced
today it has acquired SilverStar Mountain Resort in Vernon, British Columbia, from POWDR,
marking a significant milestone in PGR’s continued growth across North America. With two of
its six resorts now located in Canada, the addition of SilverStar follows PGR’s acquisition of
Powderhorn Mountain Resort in Colorado earlier this year and Jay Peak Resort in Vermont in
2022. Moelis & Company, LLC served as a financial advisor to PGR on the SilverStar
transaction.

SilverStar joins PGR’s expanding portfolio as one of Canada’s premier mountain resorts,
recently ranked the #3 Ski Resort in Canada for 2025 by Condé Nast Traveler’s Readers’ Choice
Awards. With over 3,300 acres of skiable terrain, a modern lift fleet, and a vibrant mid-mountain
village, SilverStar ranks among the 15 largest ski areas in North America.

“SilverStar is an extraordinary resort with a loyal community and a spirit that aligns perfectly
with PGR’s values,” said Mark K. Fischer, President and CEO of Pacific Group Resorts. “In ten
years of operating Mount Washington Alpine Resort on Vancouver Island, we’ve developed a
deep appreciation for what it takes to thrive in the British Columbia mountain resort landscape.
SilverStar is a natural extension of our resort family and reflects our long-term commitment to
embracing the mountain culture and the communities that make each of our properties unique.”
Herwig Demschar, General Manager of SilverStar Mountain Resort, welcomed the transition
with optimism and appreciation: “We are deeply thankful to POWDR for their stewardship,
vision, and significant investment in SilverStar. Their commitment to this mountain set the
foundation for its continued success. As we look ahead, we’re excited to join Pacific Group
Resorts, whose values and operational philosophy align seamlessly with ours. Our leadership
team is staying on, and we look forward to reinforcing what makes SilverStar so special while
elevating the guest experience for years to come.”

Fischer explained part of the rationale behind the SilverStar acquisition saying, “This mountain
fits squarely within our strategy of expanding into high-quality regional destinations with strong
local roots. We firmly believe SilverStar is one of those rare places where families and friends
can build and renew bonds that enrich their lives in ways few other environments can. Our hope
is to expand the reach of the resort so more people across Canada and the U.S. can experience
SilverStar.”

Justin Sibley, CEO of POWDR also shared, “SilverStar is a special mountain with a passionate
community, and we are grateful for the years we’ve had stewarding this destination. On behalf of
everyone at POWDR, I want to thank the SilverStar team and the Vernon community for their
partnership and pride in the resort.” J.P. Morgan acted as POWDR’s financial advisor for the
SilverStar transaction.

Fischer concluded, “I’ve known Herwig for nearly twenty years and have considerable respect
for what he and the rest of the team have built at SilverStar. Our approach is to listen, learn, and
support the team in doing what they do best. We’re happily aligned on the objectives of
preserving the charm and character that make SilverStar so beloved while helping it continue to
grow.”

PGR has emphasized that no changes are expected to operations for the 2025-26 season. The
existing SilverStar leadership team will remain in place, and all current season passes, programs,
and resort services will continue uninterrupted. Guests can expect the same warm hospitality,
celebrated terrain, and strong community spirit that define the SilverStar experience.
To plan your next SilverStar adventure, visit www.skisilverstar.com.
About SilverStar Mountain Resort

Located in British Columbia’s Thompson Okanagan region, SilverStar Mountain Resort is one of
Canada’s top four-season mountain destinations. The resort offers 3,304 acres of skiable terrain,
a 760-meter vertical drop, over 700 cm of annual snowfall, and a colorful, intimate village
offering true slope-side lodging. In summer, SilverStar transforms into one of North America’s
leading downhill bike parks. Just under an hour from Kelowna International Airport (YLW),
SilverStar offers unmatched convenience and charm. Learn more at www.skisilverstar.com.
About Pacific Group Resorts (PGR)

Pacific Group Resorts is an international resort operating company headquartered in Park City,
Utah. Its portfolio includes Jay Peak in Vermont, Wintergreen Resort in Virginia, Mt.
Washington Alpine Resort in British Columbia, Wisp Resort in Maryland, Powderhorn
Mountain Resort in Colorado, and now SilverStar Mountain Resort in British Columbia.
Collectively, PGR offers over 7,000 acres of skiable terrain, downhill mountain biking, 99 holes
of golf, adventure parks, lodging, dining, and wellness experiences. For more information, visit
www.pgri.us.